Microsoft shares close almost unchanged on Monday, EU data protection supervisor reportedly probing Microsoft software used by institutions

April 9, 2019 9:30 am

According to a Monday report by Reuters, the European Data Protection Supervisor has launched a probe into whether products provided by Microsoft Corp to institutions within the EU are compliant with its new data protection regulations.

Microsoft shares closed higher for a second consecutive trading session on NASDAQ on Monday. The stock inched up 0.03% ($0.04) to $119.93, after touching an intraday low at $118.62, or a price level not seen since April 4th ($118.38).

Shares of Microsoft Corporation have surged 18.08% so far in 2019 compared with a 15.51% gain for the benchmark index, S&P 500 (SPX).

In 2018, Microsoft’s stock went up 18.74%, thus, it again outperformed the S&P 500, which registered a 6.24% loss.

In a November report, the Dutch government put into question the collection of data carried out through Microsoft ProPlus, part of which are well-known applications such as Microsoft Outlook and Microsoft Word.

“Any EU institutions using the Microsoft applications investigated in this report are likely to face similar issues to those encountered by national public authorities,” the European Data Protection Supervisor said in a statement, cited by Reuters.

The data protection supervisor said it had concerns that EU institutions, which use Microsoft Office ProPlus software, could be exposed to “increased risks to the rights and freedoms of individuals.” The regulator also said it would verify which Microsoft applications EU institutions actually use.

According to CNN Money, the 30 analysts, offering 12-month forecasts regarding Microsoft Corp’s stock price, have a median target of $127.50, with a high estimate of $160.00 and a low estimate of $75.00. The median estimate represents a 6.31% upside compared to the closing price of $119.93 on April 8th.

The same media also reported that 28 out of 34 surveyed investment analysts had rated Microsoft Corp’s stock as “Buy”, while 3 – as “Hold”. On the other hand, 1 analyst had recommended selling the stock.

Weekly Pivot Levels

By using the traditional method of calculation, the weekly levels of importance for Microsoft Corporation (MSFT) are presented as follows:

Central Pivot Point – $119.47
R1 – $120.85
R2 – $121.80
R3 – $123.18
R4 – $124.55

S1 – $118.52
S2 – $117.14
S3 – $116.19
S4 – $115.23

Where to Trade

BinaryTribune is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action, Binary Options and Social Trading.

Related