The stock market remains on a tear. The Dow is on its longest winning streak since March 2013 and is on track for its ninth straight session of gains. The Dow and S&P 500 stand at record highs. The tech laden Nasdaq remains 3.5% away from its record close. (CNBC)
Microsoft posted quarterly profits per share of 69 cents on revenue of $22.6 billion. Microsoft returned $6.4 billion to shareholders last quarter through dividends and buybacks. The Windows operating system remains the company's profit driver. The decision to change Microsoft Office into a subscription-based cloud offering with Office 365 has been widely hailed as a savvy move that generates a consistent stream of recurring revenue. Part of Microsoft's transformation has been its pivot away from the PC market. Surface revenue grew 9% in the quarter. (USA Today)
International consumer products giant Unilever is buying Dollar Shave Club for $1 billion in cash. The company was started by Michael Dubin from his apartment in 2012. Dollar Shave Club expanded from selling razors online for $1 apiece to offering products including bathroom wipes. (CNBC)
S&P 500 is up 7 and the NASDAQ is up 24. MSCI International Index is up 0.67%.
Oil is down $0.15 to $44.50 a barrel.
Gold is down $14 at $1318 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.