Another week, another record close for stock markets. The Dow Jones Industrial Average (Dow Jones Indices:.DJI) rose 1.56% on steady gains this week, and the S&P 500 moved 2.07% higher. A 1% drop in household debt released on Tuesday and a strong consumer confidence reading on Friday had the greatest impact on the markets.
Leading both the Dow and the S&P 500 this week was tech giant Cisco Systems, Inc. (NASDAQ:CSCO), which jumped an amazing 14.9%. The company reported fiscal third-quarter earnings, and revenue was up 5.4% to $12.22 million, while adjusted earnings per share were $0.51, both ahead of estimates. There’s been a lot of concern that IT spending will fall in 2013, and investors have set the bar very low for Cisco Systems, Inc. (NASDAQ:CSCO) recently. This week’s results show that the company is still performing well and provides a good value for investors.
Microsoft Corporation (NASDAQ:MSFT) was the second biggest winner on the Dow this week, climbing 7.4%. IDC released a first-quarter smartphone market share report showing that Windows Phone jumped Research In Motion Ltd (NASDAQ:BBRY) OS into third place, behind Android and iOS. Shipments were up 133% to 7.0 million, incredible growth for Microsoft Corporation (NASDAQ:MSFT). The company also said that an update to Windows 8 code, named Blue, will be free to customers. We won’t get a preview until June, but investors are excited that users will have some of their early concerns addressed in a free upgrade.
It’s been a frustrating path for Microsoft Corporation (NASDAQ:MSFT) investors, who’ve watched the company fail to capitalize on the incredible growth in mobile over the past decade. However, with the release of its own tablet, along with the widely anticipated Windows 8 operating system, the company is looking to make a splash in this booming market. In a new premium report on Microsoft, a Motley Fool analyst explains that while the opportunity is huge, so are the challenges. The report includes regular updates as key events occur, so make sure to claim a copy of this report now by clicking here.