- Benzinga
Microsoft Q3 Shines Light On 'AI Innovation Cycle': Analysts See 'Plenty Of Runway For Growth'
Technology giant Microsoft Corporation (NASDAQ:MSFT) reported third-quarter financial results that saw revenue and earnings per share beat estimates from analysts. Analysts are praising the company's growth of artificial intelligence platforms. The MSFT Analysts: Oppenheimer analyst Timothy Horan has an Outperform rating and price target of $450. Raymond James analyst Andrew Marok has an Outperform rating and raises the price target from $450 to $480. Goldman Sachs analyst Kash Rangan has a Buy
- Reuters
UPDATE 1-US Labor Department corrects productivity data from 2019 through 2023
The U.S. Labor Department on Friday corrected productivity data from 2019 through 2023 after a computation error in off-the-clock hours worked ratios biased downward the labor hours levels underlying the productivity and costs data published last month. Worker productivity increased at a 3.3% annualized rate in the fourth quarter, corrected from the previously reported 3.2% pace. Rising worker productivity is helping to contain labor costs for businesses, which ultimately could lead to lower inflation over time.
- Reuters
CANADA FX DEBT-C$ trims weekly gain as U.S. inflation remains sticky
The Canadian dollar edged lower against its U.S. counterpart on Friday as U.S. inflation data suggested the Federal Reserve could turn more hawkish compared to the Bank of Canada and some other major peers, but the currency still notched a weekly gain. The loonie was trading 0.1% lower at 1.3665 to the U.S. dollar, or 73.18 U.S. cents, with the currency pulling back after it touched its strongest level since April 10 at 1.3633. "It is getting harder for the Fed not to sound hawkish given the inflation data surprises since January," strategists at TD Securities, including Jayati Bharadwaj, said in a note.
