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Risk-to-Price Commentary: Adobe Systems Inc. And Microsoft Corp. Jul 10

  • ID: 2054787
  • July 2010
  • Standard & Poors
1 of 3

FEATURED COMPANIES

  • Adobe Systems Inc.
  • CA Inc.
  • Fiserv Inc.
  • Leidos, Inc.
  • Oracle Corp.
  • Unisys Corp.
  • MORE

Abstract
On Thursday, Microsoft Corp. reported record revenues for the fiscal fourth quarter and a 50% increase in earnings per share, trumping analysts' expectations on both counts. Every one of Microsoft's businesses showed double-digit revenue growth; the company noted that its most recent operating system, Windows 7, runs on more than 15% of PCs. For the seven-day period ended July 22, Microsoft's credit default swap (CDS) spread tightened 6.5% to 28.3 basis points (bps), according to CMA DataVision, which may reflect the positive earnings outlook. We searched our Risk-to-Price (R2P) universe to see whether the R2P scores on Microsoft's debt reflected the positive momentum seen in the CDS spread. Microsoft issued two R2P-scored securities, both of which improved over the 30-day...

Companies mentioned in this report are:
- Computer Sciences Corp.
- Unisys Corp.
- CA Inc.
- SunGard Data Systems Inc.
- Oracle Corp.
- Microsoft Corp.
- Leidos, Inc.
- BMC Software Inc.
- Fiserv Inc.
- Western Union Co. (The)
- Intuit Inc.
- Adobe Systems Inc.

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international READ MORE >

Note: Product cover images may vary from those shown
2 of 3

- Computer Sciences Corp.
- Unisys Corp.
- CA Inc.
- SunGard Data Systems Inc.
- Oracle Corp.
- Microsoft Corp.
- Leidos, Inc.
- BMC Software Inc.
- Fiserv Inc.
- Western Union Co. (The)
- Intuit Inc.
- Adobe Systems Inc.

Note: Product cover images may vary from those shown
3 of 3
Note: Product cover images may vary from those shown

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