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Microsoft’s market value overtakes Apple’s to close out week

SAN FRANCISCO: Microsoft Corp’s stock market value closed above Apple Inc’s for the first time in eight years on Friday as the Windows maker benefited from growth in cloud computing while Apple was hit by investor concern about iPhone demand. Shares of Microsoft rose 0.6 percent to end the week at $110.89, putting its market capitalization at $851.2 billion. Apple shares fell 0.5 percent to $178.58 on the day, adding up to a market value of $847.4 billion. The two stocks jostled for the top spot over the course of the…

IBM buys software company Red Hat for $34 billion

IBM said Sunday it has reached a deal to buy open source software company Red Hat for $34 billion, among the biggest tech mergers in history which the computing giant said would enhance its cloud offerings. If approved it will be the third biggest tech merger in history, according to business news site CNBC. Red Hat said it was the biggest involving a software company. The deal will see IBM acquire all of the issued and outstanding common shares of Red Hat for $190.00 per share in cash, more than $70 above the $116.68…

Microsoft overtakes Amazon as second most valuable U.S. company

SAN FRANCISCO: Microsoft Corp regained its spot as the second most valuable U.S. company on Friday after a disappointing quarterly report from Amazon.com wiped $65 billion off the online retailer’s market capitalization. Apple Inc tops the list at over $1 trillion after crossing that threshold in September. Microsoft’s market capitalization was Wall Street’s highest in late 1998 through early 2000 before the dot-com bubble burst. Amazon’s shares dropped 7 percent, the most in nearly three years after its holiday season…

Microsoft co-founder Paul Allen dies of cancer at 65

Microsoft Corporation, co-founder Paul Allen, the man who persuaded school-friend Bill Gates to drop out of Harvard to start what became the world’s biggest software company, died on Monday at the age of 65, his family said. Allen died from complications of non-Hodgkin’s lymphoma, a type of cancer, the Allen family said in a statement. In early October, Allen had revealed he was being treated for the non-Hodgkin’s lymphoma, which he also was treated for in 2009. He had an earlier brush with Hodgkin’s lymphoma, another…

Russian hackers targeted US Senate, think tanks: Microsoft

Microsoft charged that hackers linked to Russia’s government sought to launch cyber attacks on the US Senate and conservative American think tanks, warning that Moscow is broadening attacks ahead of November’s congressional elections. The world’s biggest software company said late on Monday that it last week took control of six web domains that hackers had created to mimic sites belonging to the Senate and the think tanks. Users who visited the fake sites were asked to enter login credentials. It is the latest in a…

Microsoft soars past $800 billion in value after bumper results

Shares of Microsoft were set to open at a record high on Friday, after the company reported another blockbuster quarter, backed by growth in its legacy software business and Azure cloud computing services. Shares of one of the technology world’s oldest and best-known names rose 4 percent to $108.50 in trading before the bell, potentially adding nearly $32 billion to a market capitalization that was already $802 billion at close on Thursday. At least six brokerages raised their price targets on the company’s stock after the…