New York (November 13th, 2012) – A major loser on the NASDAQ today is Microsoft Corporation (NASDAQ: MSFT). The maker of Windows operating system is falling following the departure of Steven Sinofsky, President of Windows and Windows Live. Sinofsky’s sudden departure from MSFT has come as a shock to investors and hence the sharp fall in shares.
MSFT said that following the departure of Sinofsky, Julie Larson-Green has been promoted to lead all Windows software and hardware engineering, while Tami Reller will assume responsibility for the business of Windows.
MSFT is currently down 2.73% to $27.23 on above average volume of 76.47 million. The stock has now fallen more than 7% in the last five trading sessions, which indicates a strong bearish trend. MSFT could find support at around $24.30.
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Facebook Inc. (NASDAQ: FB), the social networking giant, is another major loser on the NASDAQ in mid-day trading today. FB is currently down 0.90% to $19.89 on volume of 33.09 million, which is below the daily average volume of 49.36 million.
FB is seeing a correction after posting significant gains in the previous trading session. FB finished nearly 4.5% higher on Monday. FB is falling ahead of a large lockup expiration. FB could see a rebound following the lockup expiration. The stock is still down nearly 50% from its IPO price. However, recent quarterly results have given investors some confidence in the company.
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