Dow Jones News: Microsoft Beats Amazon; McDonald's Heads Lower
The Dow Jones Industrial Average (DJINDICES: ^DJI) had gained 0.56% by 3:15 p.m. EDT Monday. Microsoft (NASDAQ: MSFT) stock drove some of that move higher, jumping after the software company was awarded a massive government cloud computing contract, beating out rival Amazon.
Moving in the opposite direction was McDonald's (NYSE: MCD). While there were no new developments for the fast-food chain, investors continued to pummel the stock following a weak earnings report last week.
While Amazon was widely expected to win the U.S. Department of Defense's Joint Enterprise Defense Infrastructure (JEDI) cloud contract, it was Microsoft that ultimately prevailed. The DOD announced on Friday that Microsoft had secured the 10-year contract worth as much as $10 billion, a blow to Amazon's image as the undisputed king of the cloud.
Source Fool.com
