Ballmer's Exit At Microsoft Pushes NASDAQ To Weekly Win

By: From CNN Money
By: From CNN Money


NEW YORK (CNNMoney) -- What Nasdaq technical glitch? The big story on the Nasdaq Friday: Microsoft's (MSFT, Fortune 500) stock soared following news that its CEO Steve Ballmer will retire within the next 12 months.

The Microsoft news helped the Nasdaq end in positive territory for the day and gain nearly 1.5% for the week.

The Dow, despite moving slightly higher Friday, fell for the third straight week. The S&P 500, up for the day, ended the week up 0.5%.

Market action appeared to be glitch-free, a relief one day after technical troubles shut down trading in all Nasdaq-listed stocks and options for several hours.

Big moves in Microsoft: Microsoft's shares gained more than 7% following the Ballmer news. Microsoft is one of the 30 stocks in the Dow and one of the largest companies listed on the Nasdaq. So its big move helped to lift the broader market.

Traders on StockTwits were happy to see Ballmer go.

It seems that Dell might be a little busy trying to take his own company private though.

Facebook hits 40!: Facebook's (FB) shares soared more than 5% and closed above $40 for the first time ever.

Some traders on StockTwits marveled at the ironic timing following Thursday's Nasdaq glitch.

Aeropostale (ARO) shares plummeted after the teen retailer posted weak results. Its poor outlook follows similarly bleak forecasts from rivals American Eagle Outfitters (AEO) and Abercrombie & Fitch (ANF).

Pandora (P) reported strong earnings, but the stock plunged after the online radio company issued softer-than-expected guidance.

Dansumthing: $P is down big because management said they intend to focus on growing revenue and marketshare more than earnings over the next few qtrs.


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