Microsoft Faces Bribery Probe Over Business in Hungary
The U.S. Department of Justice and Securities and Exchange Commission are investigating how Microsoft (MSFT) sold software to middleman firms in Hungary that then sold that software to government agencies in the country in 2013 and 2014, according to a Wall Street Journal report.
Microsoft sold some of those products at steep discounts to the middlemen, who then sold the products closer to full price to the Hungarian government.
Microsoft has been investigated for similar acts int he past. In 2013 the company was investigated for doing what is alleged in the Journal report in five other countries.
Facebook Hires Former HP Exec to Chief Marketing Officer
Facebook (FB) has hired Antonio Lucio to be chief marketing officer, a job Lucio previously held at computer firm HP.
"Facebook's story is at an inflection point," Facebook CPO Chris Cox said of Lucio's hiring. "We have never faced bigger challenges, and we have never had more opportunities to have a positive impact on the world - in our families, our friendships, our communities, and our democracy - by improving our products at their core, and then by telling the story outside that we all know to be true inside."
It has been a rough year of PR for Facebook FB, the world's largest social media company, as the company has been blamed for allowing Russians to spread propogranda among the company's users.
Foot Locker Laces Up Its Sneakers, Stock Is Running Friday
Shares of Foot Locker (FL) were rising Friday ahead of the market open after the company reported stronger than expected earnings in its most recent financial report.
The sneaker retailer reported earnings of 75 cents per share, a nickel better than analysts were expecting for the period. Revenu rose 4.8% year over year to $1.78 billion, slightly ahead of Wall Street's $1.76 billion expectations.
However, comparable store sales only rose 0.5% in the quarter, short of the market's 0.7% increase expectations.
U.S. futures are rising across the board Friday as markets look to rebound from a slight selloff Thursday.
Dow futures are rising, climbing 0.26%, indicating an open 67 points higher, while S&P futures were climbing 0.22%, indicating an open 6 points higher, and Nasdaq futures were rising 0.27%, indicating an open 20 points higher.
In Asia, the Hang Seng was the lone market to fall, declining 0.43%, while the Nikkei and Shanghai Composite rose 0.85% and 0.18% respectively.
In Europe, the major markets are rising across the board with the CAC 40 gaining 0.44%, the DAX rose 0.2%, and the FTSE 100 rose 0.16%.