Microsoft Sets the Stage for Big Tech Earnings, and Are Banks a Hedge Against Volatility

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.3 • 1.2K Ratings

🗓️ 27 October 2020

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Microsoft shares were higher after the company reported better-than-expected strength in its cloud business. And banks may be underperforming the broader market this year, but one technician says they could be the perfect hedge against election-related market volatility.

Transcript

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0:00.0	I'm Melissa Lee and this is Fast Money tonight's trader line up.
0:04.5	Guy Dami, Tim Seymour, Pete Nigerian and Steve Grosso tonight on Fast
0:08.0	election protection. The one sector of the market that could be the ultimate hedge
0:12.0	as we count down to next Tuesday
0:13.6	plus chipping away at the competition did AMD just deal a big blow to Intel with
0:17.9	its 35 billion dollar Xylings takeover and it's back that right. We are dusting off the fast money Bitcoin bug as
0:26.8	the cryptocurrency source to its highest level in nearly three years. We'll break
0:30.6	down what is behind this Bitcoin boom but we start off with an earnings
0:33.7	alert on Microsoft shares off its after our recession highs on the back the results the
0:38.2	company's calls about to kick off.
0:40.0	Let's get straight to Josh Lipton who's got the details.
0:42.0	Josh.
0:44.0	So, Melissa, I just spoke with Kirk Materin
0:46.0	over to Evercore, ISI.
0:47.3	He covers the name.
0:48.1	I want to Kirk's take.
0:49.2	To him, it looks like Microsoft, in his words,
0:51.3	is firing on all cylinders cylinders beating across all three major
0:54.9	categories strong quarter across the commercial franchises. Kurt called
0:59.2	at Azure up 48% that was better than the street was looking for.
1:03.6	Commercial cloud gross margins all-time high showing Kirk says that growth is translated
1:08.4	into increasing profitability.
	...

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