Numerous reports note that CNBC‘s Jim Goodman erroneously reported earlier today that Microsoft was lowering its revenue guidance, sending its stock lower until the business news network corrected the mistake.
WallStreetPit.com reports, “CNBC made hay about it, talking about how Jim’s report had affected the DOW and the NAZ, and they had a bunch of their reporters and anchors on it.
“But it wasn’t true.
“MSFT execs lowered their operating expense guidance -– a good thing. Goldman broke back in with a ‘clarification,’ giving the correct guidance. But, as Melissa Francis, his own anchor, even pointed out, it was a big difference, and MSFT and the NASDAQ both recovered.
“It was a major error and it merited a full-blown correction, not a clarification. The good news is however, that despite CNBC botching the company’s release, the stock managed to gain $1.42, or 5.38% , to $28.02 in Naz trading.”
Read more here.
