Microsoft, Facebook, Tech Winners & Losers
Sinofsky, oversaw the recent launch of Windows 8, is being replaced by Julie Larson-Green, who will handle "all Windows software and hardware engineering," and Tami Reller, who will assume responsibility for "the business of Windows."
The stock was losing 3% at $27.14 in recent trades with volume already running above 84 million vs. the issue's trailing three-month daily average churn of 45.3 million.
Shares of Facebook (FB) were incrementally lower Tuesday ahead of the expiration of a lock-up period for a massive amount of stock held by company insiders.
Almost 800 million shares are estimated to become available for trading on the open market on Wednesday. This is the second lock-up expiration that Facebook has dealt with since going public in mid-May. The first lock-up was up in August, releasing some 270 million shares.
The stock was down 18 cents, or 0.90%, at $19.89 in afternoon action.
Facebook recently reported stronger-than-expected earnings as the company's mobile initiatives showed promise in generating revenue in the third quarter.
On an a adjusted basis, the social network earned 12 cents a share on revenue of $1.26 billion for the September-ended period. Analysts polled by Thomson Reuters were looking for 11 cents a share on sales of $1.2 billion.
Interested in more on Facebook? See TheStreet Ratings' report card for this stock.
--Written by Chris Ciaccia in New York
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