MSFT is up because of its bond issue. INTC did the same thing. Now APPL is doing one. These companies can borrow at low rates but they never pay on principal but just roll it over into a new bond. Rolling over in the future could be at high rates.
Next, the stock markets are at a high but government bonds are also high. Previously, when the stock market was up then government bonds were down. Something has changed.
ORCL is down and down on sequestration. And all of these tech companies have large sales to the Federal government. It just hasn't hit yet. But the air traffic controllers just got excluded from the budget cuts.
NOK got hit hard on results. Isn't that Windows 8 Phone ?
PC sales are down but MSFT is selling upgrades from XP to Win 7. But again some of that will be slowing sales to the Federal government.