Nadella effect: Microsoft surpasses Exxon, becomes world's second most valuable company

November 15, 2014

Nadella effectSan Francisco, Nov 15: The bull run in Microsoft's stock this past year has helped the tech giant surpass Exxon Mobil and seize the rank of the second most valuable company, behind Apple Inc.

Under new CEO Satya Nadella, Microsoft has worked to overcome its reputation as a clumsy behemoth struggling to keep up with new tech trends and consumer habits. Nadella has cut expenses — and jobs — while pledging to refocus the company on mobile technology and cloud computing. His efforts have fueled a stock surge that drove Microsoft's total market value above $410 billion on Friday. That leapfrogged Exxon's value of $404 billion, which has been dinged by the drop in oil prices.

"Microsoft has made a strategic change,'' said Daniel Ives, a tech analyst at FBR Capital Markets. He said Nadella still faces challenges with a company that's heavily reliant on the declining personal computer market. But compared with other longtime tech stalwarts, such as IBM, Hewlett-Packard and Oracle, "Microsoft has done the best job of trying to skate where the puck is going,'' Ives said.

Apple is currently the world's most valuable company, with a market capitalization of more than $668 billion. That's more than the $616 billion that Microsoft was worth when it was No. 1 in December 1999. Microsoft shares fell sharply the next year.

But the Redmond, Washington company has earned greater cachet on Wall Street over the last 18 months. Its stock has risen nearly 70 percent since April 2013, when activist investment firm ValueAct Capital announced it had taken a $2 billion stake in the company and would scrutinize its strategy. Within a few months, longtime CEO Steve Ballmer announced plans to retire. The move was described as unrelated.

Since then, Nadella has announced new initiatives to expand in cloud computing, which promises to be more lucrative than the traditional model of selling software that is installed on clients' computers. Microsoft has also promised a redesign of its flagship Windows operating system and released versions of other popular software for smartphones and tablets, including devices made by competitor Apple.

Microsoft shares have outperformed the tech-heavy NASDAQ Composite Index, which gained about 45 percent in the same 18-month period. The stock hit $50.04 on Friday, its highest point since early 2000, before slipping to the $49.50 range in afternoon trading.

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Agencies
February 17,2020

New Delhi, Feb 17: The Supreme Court said on Monday that people have a fundamental right to protest against a law but the blocking of public roads is a matter of concern and there has to be a balancing factor.

Hearing pleas over the road blocks due to the ongoing protests at Shaheen Bagh against the Citizenship Amendment Act (CAA), a bench comprising Justices S K Kaul and K M Joseph said its concern is about what will happen if people start protesting on roads.

Democracy works on expressing views but there are lines and boundaries for it, the bench said.

It asked senior advocate Sanjay Hegde and advocate Sadhana Ramachandran to talk to Shaheen Bagh protestors and persuade them to move to an alternative site where no public place is blocked.

The matter has been posted for next hearing on February 24.

People have a fundamental right to protest but the thing which is troubling us is the blocking of public roads, the bench said.

Solicitor General Tushar Mehta said Shaheen Bagh protestors should not be given a message that every institution is on its knees trying to persuade them on this issue.

The apex court said that if nothing works, we will leave it to the authorities to deal with the situation.

Protestors have made their made their point and the protests have gone on for quite some time, it said.

Restrictions have been imposed on the Kalindi Kunj-Shaheen Bagh stretch and the Okhla underpass, which were closed on December 15 last year due to the protests against CAA and Register of Citizens.

The top court had earlier said the anti-CAA protesters at Delhi's Shaheen Bagh cannot block public roads and create inconvenience for others.

The apex court was hearing an appeal filed by advocate Amit Sahni, who had approached the Delhi high court seeking directions to the Delhi Police to ensure smooth traffic flow on the Kalindi Kunj-Shaheen Bagh stretch, which was blocked by anti-CAA protesters on December 15.

While dealing with Sahni's plea, the high court had asked local authorities to deal with the situation keeping in mind law and order.

Separately, former BJP MLA Nand Kishore Garg has filed a petition in the apex court seeking directions to the authorities to remove the protestors from Shaheen Bagh.

One of the pleas has sought laying down of comprehensive and exhaustive guidelines relating to outright restrictions for holding protests or agitations leading to obstruction of public place.

In his plea, Garg has said that law enforcement machinery was being "held hostage to the whims and fancies of the protesters" who have blocked vehicular and pedestrian movement from the road connecting Delhi to Noida.

State has the duty to protect fundamental rights of citizen who were continuously being harassed by the blockage of arterial road, it said.

"It is disappointing that the state machinery is muted and a silent spectator to hooliganism and vandalism of the protesters who are threatening the existential efficacy of the democracy and the rule of law and had already taken the law and order situation in their own hand," the plea had said.

In his appeal, Sahni had sought supervision of the situation in Shaheen Bagh, where several women are sitting on protest, by a retired Supreme Court judge or a sitting judge of the Delhi High Court.

Sahni has said in his plea that protests in Shaheen Bagh has inspired similar demonstrations in other cities and to allow it to continue would set a wrong precedent.

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News Network
March 30,2020

New Delhi, Mar 30: The government on Monday said there was no plan to extend the 21-day lockdown which came intro force on Tuesday midnight.

The Press Information Bureau (PIB) of the Ministry of Information and Broadcasting tweeted, saying Cabinet Secretary Rajiv Gauba has denied media reports claiming that the government will extend the lockdown.

"There are rumours & media reports, claiming that the Government will extend the #Lockdown21 when it expires. The Cabinet Secretary has denied these reports, and stated that they are baseless," it said.

The 21-day lockdown is aimed at checking the spread of the coronavirus.

Following the lockdown, there has been a massive exodus of migrant workers from big cities to their villages after being rendered jobless.

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Agencies
August 3,2020

New Delhi, Aug 3: India's COVID-19 tally crossed the 18 lakh mark with 52,972 positive cases and 771 deaths reported in the last 24 hours.

The total COVID-19 cases stand at 18,03,696 including 5,79,357 active cases, 11,86,203 cured/discharged/migrated and 38,135 deaths," said the Union Ministry of Health and Family Welfare on Monday.

As per the data provided by the Health Ministry, Maharashtra -- the worst affected state from the infection -- has a total of 1,48,843 active cases and 15,576 deaths. A total of 4,41,228 coronavirus cases have been recorded in the state up to Sunday.

Tamil Nadu has reported a total of 56,998 active cases and 4,132 deaths. While Delhi has recorded 10,356 active cases, 1,23,317 recovered/discharged/migrated cases and 4,004 deaths.

The COVID-19 samples tested across the country has crossed the 2 crore mark till August 2.

The total number of COVID-19 samples tested up to August 2 is 2,02,02,858 including 3,81,027 tests that were conducted yesterday, said Indian Council of Medical Research (ICMR) on Monday. 

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