Stocks Cheers on Upbeat Move: Microsoft Corporation (NASDAQ:MSFT), QLogic Corp. (NASDAQ:QLGC), VeriFone Systems, Inc. (NYSE:PAY)

Microsoft Corporation (NASDAQ:MSFT) released that it will dismiss 7,800 people and write off $7.6B related to its purchase of Nokia. The moves have triggered speculation with the intention of the days of Microsoft’s Windows Phone business are numbered. The Washington-based tech giant (NASDAQ:MSFT) paid $7.2B for Nokia last year in an attempt to save its struggling Windows Phone business. Nationally, CEO Satya Nadella has made it clear he is taking the company away from the “devices and services” mantra of his predecessor and toward the “mobile-first, cloud-first” concept that puts Microsoft software on as many devices as possible, regardless of what company makes them. Microsoft Corporation (NASDAQ:MSFT) stock price closed at $44.52 with the total traded volume of 32.29 Million shares. Its price to sales ratio ended at 3.80. Its market capitalization is 360.15 Billion.

Network infrastructure solutions provider, QLogic Corp. (NASDAQ:QLGC) announced that it now predicts adjusted net income for the Q1 of fiscal 2016 in a range of $0.16 to $0.17 per share, drop from the previously estimate range of $0.23 to $0.27 per share. The seven on average analysts polled by Thomson Reuters currently anticipate the firm to report earnings of $0.25 per share for the quarter. Analysts’ estimates typically exclude special items. QLogic also slashed its net revenue guidance for the quarter to about $113 million from the prior projection range of $124 million to $132 million. Five Wall Street analysts currently have a consensus revenue estimate of $128.29 million for the quarter. The company noted that the preliminary results of operations for the first quarter represent the most current information available to management. QLogic Corp. (NASDAQ:QLGC) has the market capitalization of 959.85 Million. Shares of firm moved down -21.32% to close at $11.00 with the total traded volume of 8.89 Million.

VeriFone Systems, Inc. (NYSE:PAY) released that selection of Steve Aliferis as president of Asia Pacific. Additionally, the company announced the appointment of Arthur Jiang as senior vice president and general manager for China. VeriFone Systems, Inc. (NYSE:PAY) begun last trade with a price of $33.13 and throughout the trading session climbed at a high of $33.35. The day-trade ended with 1.14% to $32.86. The stock is going forward to its 52-week low with 16.57% and lagging behind from its 52-week high price with -16.28%. PAY last month stock price volatility remained 2.06%.