Microsoft recently sold its 7.26 per cent stake in Comcast, in what is being seen as another burst of financial housekeeping ahead of tomorrow’s second quarter earnings report. A US Securities and Exchange Commission filing, dated 16 January, disclosed that Microsoft no longer holds any Class A shares in the Philadelphia-based …
or just getting rid of shares before a collapse of confidence in the company?
They're not cutting costs they're offsetting losses
Comcast is one of the best-placed cable operators in the US. It's stock hasn't 'tumbled': it HAS fallen by 15 percent, but that's far less than most of it's competitors.
Microsoft sold these shares simply to cover their own losses - notably in online, Xbox and entertainment - and also in order to raise funds for the failed bid for Yahoo! Microsoft sacrificed a very valuable asset, and this decision (made at the height of the financial folly of last year) is simply another reflection of the inept management currently residing in redmond. 9 billion, they have, now - partly based on market value, which can change, of course. Remember when they had 45 billion? Around about 30-40 billion has bled out of that company, over just the last few years: now THAT's a story.
Net neutrality issues?
Maybe it has to do with this:
In any case, the fiddling Comcast has recently been doing with their customers' bandwidth could turn a lot of them away (it would turn me away if I was one of their customers).
Read that last part again... you know, where it says MS has $9 Billion IN CASH...
Reading again, MS has made roughly $2.2 Billion over 11-12 years or so just on this one investment, maybe even more depending on when they actually sold the shares. Not a bad investment by all accounts
Once again you show your ignorance. If you look at the 2008 annual report, MS has $73BN of assets. And HED made a profit last year. I suggest you spend a little time learning how to read a company report before you make your next post.
The Comcast stock was bought at $1BN and sold at somewhere between $2BN and $3.4BN. That is a profit of somewhere between $1BN and $2.4BN..........
Anyhow, you get today’s clueless spanner award. Well done.
> Remember when they had 45 billion? Around about 30-40 billion has bled out of that company, over just the last few years: now THAT's a story
Nope. They gave the cash to their shareholders:
> The company will also pay a one-time special dividend of $3 per share, or $32 billion
- World's OLDEST human DNA found in leg bone – but that's not the only boning going on...
- Lightning strikes USB bosses: Next-gen jacks will be REVERSIBLE
- Pics Brit inventors' GRAVITY POWERED LIGHT ships out after just 1 year
- Beijing leans on Microsoft to maintain Windows XP support
- Storagebod Oh no, RBS has gone titsup again... but is it JUST BAD LUCK?