Why Microsoft Is Rising Today
Shares of tech giant Microsoft (NASDAQ: MSFT) rose about 2% as of 12:06 p.m. ET on Monday amid several positive developments. The entire technology sector has been under pressure this year, and Microsoft -- although holding up much better than most other software companies -- is still down 26.3% for 2022.
Still, Microsoft remains a solid core holding for any tech portfolio, and two positive pieces of Monday news continued to back up that assertion.
First, Microsoft announced an interesting deal with the London Stock Exchange Group (LSE: LSE), which not only signed up for a 10-year cloud deal with Microsoft, but also saw the Redmond giant take a 4% stake in the LSEG. The the stake will be purchased from the consortium of Blackstone and Thompson Reuters.
Source Fool.com
