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The Markets
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Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
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The Markets
by Proactive
Proactive UK has moved.
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Software & services

Tech trending on Friday, with Amazon in focus

It was technology Friday with news of big corporate players making the headlines on the last trading day of the month....

It was technology Friday with news of big corporate players making the headlines, with both positive and negative effects on share prices, on the last trading day of the month.

In wider markets, bullishness seemed to walk back into the room, with indices surging in the US and in Europe.

Kicking off with Amazon (NASDAQ:AMZN), which has become a household name in online retailing, its shares plummeted in pre-market and never really recovered in regualr trading after its fourth quarter numbers, despite showing a 22% increase in profit compared to the 2014 quarter, missed analyst estimates.

Shares at the time of writing are now down 8.09% in New York to US$583.92.

Also in focus was business services giant Xerox (NYSE:XRX) and billionaire investor Carl Icahn, who has an 8.1% stake and is now the second largest shareholder.

The company unveiled plans to spin itself into two firms and give three board seats to Icahn.

Chief executive Ursula Burns said the investor was not the driving force behind the decision, which turns the previous plan to combine business services with copiers and printers on its head.

Xerox shares lost a quarter of their value last year and have lost a further 13% so far this year.

Xerox shares fell 0.43% in after-hours deals to stand at US$9.21 but gained 5.63% in the regular session to US$9.75.

Elsewhere, Microsoft (NASDAQ: MSFT) shares gained in after-hours trading as it posted quarterly numbers, which showed, perhaps unsurprisingly, that cloud computing and mobile were driving growth. Shares are up 5.43% to US$54.88.

But profits in the three months fell 15% to $5bn (£3.4bn) as the strong dollar and falling PC sales took their toll.

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