Microsoft, Apple, Nokia: Morning Movers
According to a report from The Verge, Microsoft (MSFT) is laying off 1,900 employees from its Activision Blizzard and Xbox divisions, which represents about 8% of its total gaming workers.
An International Data Corporation (IDC) report revealed Apple (AAPL) iPhone shipments to China fell 2.1% in the fourth quarter, which add to concerns waning demand for iPhones in the region.
Shares of Nokia (NOK) are spiking on Thursday morning as investors remain optimistic about Nokia's plans to turn the business around, despite the company reporting a decline in sales and drop in profit for the fourth quarter.
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Editor's note: This article was written by Nicholas Jacobino
Video Transcript
SEANA SMITH: All right. Let's take a look at some of those individual movers here. Microsoft cutting 1,900 workers in its video gaming divisions. That includes Activision, Blizzard, according to a report by the Verge. Now, the cuts represent about 8% of Microsoft's 22,000 gaming workers. And this comes just three months after the tech giant finalized its buyout of Activision.
BRAD SMITH: And another big tech company in the news, Apple. IDC reporting iPhone shipments fell 2.1% in China last quarter adding to demand concerns right now. The shares flat just barely to the upside right now.
SEANA SMITH: All right. Nokia shares jumping this morning, despite reporting a double-digit decline in sales. Also, a drop in profit in the fourth quarter. Investors, though, they seem optimistic about their planned turnaround-- their expected recovery, I should say, and also, future cost controls. JP Morgan writing in a note that quote, "overall, we see results as strong in a difficult environment."
