Romania’s Government is reportedly in talks with Microsoft Corporation (NASDAQ:MSFT) to sign a deal with the local branch of the US software company pertaining to the use of the company’s software products in public institutions and the education system. A local paper Ziarul Financiar reported citing a document from the press office of the Government that the contract could be worth over EUR 33 million.
The document has that, a memorandum concerning the state of negotiations with Microsoft Romania was discussed by the Government during a meeting held on 18 December. The agenda was to set into action the approved measures during the Government meeting from 24 October through the memorandum on the subject ‘Measures necessary to use Microsoft licences in institutions and public education’.[article_detail_ad_1]
The document said that the Ministry of Communications and Information prepared the memorandum and got an approval from the government. The Government published document revealing that after an agreement, the buyout offer was dropped from EUR 45.091 million to EUR 33.254 million.
Shares of Microsoft (MSFT) traded down -0.91% during trading yesterday, hitting $27.31 on NASDAQ, whose benchmark S&P 500 dropped -10.98 points to 1,435.81 points. The latest closing price is 15.32% off the 52-week high of $32.95 and +10.39% above the 52-week low of $25.44. At that price, shares moved down -1.92% from the 50-day simple moving average and down -7.60% than 200-day average.
How a stock moves along with the market depends on its volatility and for this stock, the volatility of 1.86% was seen in a week and for the month was 1.79%. The majority of analysts covering MSFT stock believe it will struggle to hit 34.50.
A total of 53.52 million shares changed hands with price floating in a range of $27.25 – $27.73. However, its 30-day average volume stands at 57.43 million shares. The year-to-date (YTD) performance reflected a 8.16% gain above last year. During the past month the stock advanced 2.17%, bringing three-month performance to -11.70% and six-month performance to -9.72%.
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