Microsoft's $8.5 billion Skype deal lifts stocks
by Stan Choe
NEW YORK (AP) - Microsoft Inc. said it would buy Internet telephone service Skype for $8.5 billion in cash. Companies have built up a record amount of cash since the recession, and they have begun to use it to purchase rivals, pay dividends and buy back their own stock. Microsoft had $50.15 billion in cash and short-term investments at the end of March.
Large companies want to put their cash stockpiles to work because they're getting minimal returns on them, said Oliver Pursche, president of Gary Goldberg Financial Services. "The crisis is behind us, where we don't need this much cash anymore."
The Skype purchase is Microsoft's largest in its 36-year history.
Latest Stories
- Retired Illinois Appellate Court Justice and Member of the Glen Ellyn Area Alumnae Chapter of Delta Sigma Theta Sorority, Inc. Shelvin Louise Marie Hall Dies
- It’s That Time Again: Reviewing Your Medicare Plan Before It’s Too Late
- Exciting Breakthroughs in Alzheimer’s Research Offer New Hope for Patients
- C3 Impact Fund Seeks To Spur Growth In Underserved Communities Through Real estate
- HelloBaby Identifies Site For A Second Location
Latest Podcast
Quandra-Urban Market Exchange
