Bad Day on the Market / Microsoft Earnings: Good or bad?

The rough market we've seen so far in October continued yesterday and today. Although Coach posted earnings better than expectations on Tuesday, it closed today around the same level as Monday.

Today Microsoft posted earnings for their fiscal first quarter after the market closed. Read more here. Including a one-time charge of 2 cents per share related to the settlement with Real, the earnings were $0.29/share, compared with average analyst expectation of $0.30/share. After the earnings came out the shares have been down as much as 2.5% in after hours trading. This compounds a 1% drop during normal trading today. I'm not sure if the sell-off is justified yet. The numbers don't seem bad. From the conference call (paraphrasing): "revenue from MSN search has not been as high as hoped". Hmm...


Bad, bad month.