Best Buy — Best Buy reported adjusted quarterly profit of 44 cents per share, 9 cents a share above estimates. Revenue also beat forecasts. However, its current-quarter forecast is light of Street forecasts. Separately, Best Buy CFO Sharon McCollam is stepping down June 14, and will be replaced by Chief Strategic Growth Officer Corie Barry.
Microsoft — Cowen upgraded Microsoft to "outperform" from "market perform," saying the market has overreacted to Microsoft's most recent quarterly earnings and that key metrics like Office suite revenue and cloud-based sales are poised to increase.
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