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Microsoft lowers full-year outlook


Microsoft issues weak outlook for current quarter


Microsoft, Juniper shares lose steam after outlooks


Microsoft seen lowering outlook as economy weighs


Microsoft Cuts Outlook, Wary of Economy

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| The company's lower financial outlook on Thursday is assuming a
| mild-to-deeper recessionary environment, CFO Chris Liddell said on the
| company's fiscal first-quarter earnings conference call.


"There is such an overvaluation of technology stocks that it is absurd. I would
include our stock in that category. It is bad for the long-term worth of the
--Steve Ballmer, Microsoft's CEO


Microsoft sees slide in profits


No Recession at Red Hat

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| It is flattering to be mentioned, Mr. Whitehurst said, but he noted that
| corporate customers and the industry benefit from what he called Red
| Hat’s “Switzerland status” — not being a province of one of the major powers
| in the technology industry.


Microsoft, Cisco to lose $4.3 Billion as investment banks cut cost

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| The cut in the IT budgets of the revered investment banks like Lehman
| Brothers and Merrill Lynch due to their failure may lead industry giants like
| U.S. based Microsoft and California based Cisco to lose $4.3 billion in
| orders next year. While Cisco earns about three percent to four percent of
| annual revenue from the U.S. financial industry, Microsoft accounted for 22
| percent last year.


Microsoft will be hurt by financial crisis, RBC analyst says

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| The devastating U.S. financial crisis will hurt software giant Microsoft
| Corp.'s bottom line this holiday season as shoppers tighten their purse
| strings, RBC Capital Markets says.


Ballmer says Microsoft not immune from global crisis


Microsoft loses 90 Billion Dollars


Microsoft's Market Cap Falls $24B in 17 Days

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| Microsoft is on the list. Today, the stock closed at $25.01 a share, down
| $2.39, or 8.72 percent.


Ex-Microsoft boss sentenced


Former Microsoft Manager Gets 2 Years In Jail


SEC Foresees Rise in Fraud Cases

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| Laying out his priorities, the new enforcement chief for the Securities and
| Exchange Commission in San Francisco said Thursday he expects an upswing in
| fraud cases against public companies.



Microsoft's Accounting Under Scrutiny

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| The company has still not made enough information public to provide analysts
| with detailed information on the profitability of its MSN Internet business,
| Mr. Galvin said, adding, ''There's still room for them to obfuscate.''


Microsoft - Undeserving of Libertarian Praise

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| One strategy that Microsoft has employed in the past is paying for the
| silence of people and companies. Charles Pancerzewski, formerly Microsoft's
| chief auditor, became aware of Microsoft's practice of carrying earnings from
| one accounting period into another, known as "managing earnings". This
| practice smoothes reported revenue streams, increases share value, and
| misleads employees and shareholders. In addition to being unethical, it's
| also illegal under U.S. Securities Law and violates Generally Accepted
| Accounting Practices (Fink). Mr. Pancerzewski claims he was forced to retire,
| for raising the issue of deferred earnings with Microsoft executives, thereby
| making plausible deniability more difficult for said executives. He has since
| sued Microsoft, who responded by settling out of court, but also sealing the
| records to prevent public disclosure (Fink).


Microsoft Agrees To Refrain From Accounting Violations in SEC Settlement

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| Microsoft has agreed to refrain from accounting violations to settle federal
| regulators' allegations that it misrepresented its financial performance, the
| government announced Monday.
| Under a settlement with the Securities and Exchange Commission, the software
| giant neither admitted to nor denied wrongdoing. No fine was imposed.
| The SEC alleged that Microsoft's accounting practices from July 1994 through
| June 1998 caused its income to be substantially misstated.


"Microsoft Tax," MSN Enters the Black Hole, New Names for NT

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| The lawsuit, filed last year by Mukilteo City Councilman Charles
| Pancerzewski, alleges that he was forced to resign as Microsoft's general
| auditor in January 1996 after working for the company's internal auditing
| department for more than four years. The suit claims that a "significantly
| younger man" with little auditing experience was picked to replace
| Pancerzewski, who was finally forced out because he discovered Microsoft
| might have been violating government regulations. Once Pancerzewski left the
| company he was replaced by the younger man, who his attorneys believe
| was "less prone to raise issues of possible legal improprieties which could
| threaten or embarrass Microsoft or its management.


SEC Investigating Microsoft Practices -- Earnings Manipulated, Former Employee

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| "The CFO to whom Charlie was reporting his concerns about illegality was the
| biggest advocate for the very illegality that was going on," Vial argued in
| court a year ago.



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| THE ALLEGATIONS WERE shocking: For years, Microsoft has systematically
| distorted its profit figures in an effort to consistently beat Wall Street
| expectations and keep its stock price steadily rising. The false reports
| would violate SEC regulations, and amount to outright fraud.
| More shocking was the source of the allegations: Microsoft's chief of
| internal audits, Charlie Pancerzewski, who reported directly to the company's
| chief financial officer.
| Most shocking of all was what happened to Pancerzewski when he reported the
| suspicious bookkeeping to his supervisors, Microsoft CFO Mike Brown and chief
| operating officer Bob Herbold, in the spring of 1995. Soon afterward,
| Pancerzewski—who for nearly five years had received stellar performance
| evaluations—received his first-ever unsatisfactory one, and was eventually
| forced to resign.
| Two months ago, Microsoft quietly settled a lawsuit containing these
| allegations, filed in 1997 by Pancerzewski under the Whistleblowers
| Protection Act. The auditor claimed he was wrongfully terminated after
| telling his supervisors that Microsoft might be breaking securities and tax
| laws. The lawsuit made its tortuous way through several rounds of pretrial
| motions until last fall, when US District Judge Carolyn Dimmick denied
| Microsoft's final plea for summary judgment, finding credible evidence that
| Microsoft may have violated SEC rules, as Pancerzewski alleged. Shortly
| thereafter, Microsoft and Pancerzewski settled out of court. Terms of the
| agreement were sealed, but one source who claims familiarity with the case
| says that Microsoft paid Pancerzewski $4 million.


Microsoft exec dumped stock prior to Red Ring announcement

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| To make matters more murky, the sales were not registered with the Securities
| and Exchange Commission within the mandatory two days of the transaction, a
| result of an alleged "administrative error." Microsoft has since remedied the
| issue by following the "procedures required of late-filers."


Microsoft's Bach sold more stock before Xbox news

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| Microsoft Corp. executive Robbie Bach sold $3 million more in company stock
| during the period leading up to an announcement about a costly flaw in its
| Xbox video game console than previously reported, according to a filing
| Monday with the Securities and Exchange Commission.


Insider Trading Hasn't Affect Microsoft Stock - Yet

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| MarketWatch.com reports that Robbie Bach, president of Microsoft's
| Entertainment and Devices division, sold $6.2 million of Microsoft
| stock just prior to announcing that Microsoft was going to have to
| extend XBox 360 warranties to three years because of extensive
| failures. The filings note that this was not part of any
| scheduled diversification or selling program; this was a
| conscious, unscheduled sale by the guy in charge of releasing
| news that could affect the value of Microsoft stock.
| [...]
| Insider trading is a very serious violation of the law; just
| ask Martha Stewart, who served five months in prison for
| avoiding losses of $43,000 through trades that just had suspicious
| timing (no insider trading was actually proven). This is $6.3
| million that went straight into Robbie Bach's pocket.

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