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Schaeffer's Street Stories: Microsoft Corporation Shares Drop After a Price-Target Revision

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  Published in Science and Technology on Wednesday, January 7th 2009 at 10:37 GMT, Last Modified on 2009-01-07 10:38:05 by Market Wire
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CINCINNATI--([ BUSINESS WIRE ])--Shares of computer giant Microsoft Corporation (NASDAQ: MSFT) are off nearly 3% today, after Jefferies cut its price target from $28 to $26, but kept its "buy" rating. Today's performance is nothing new for the world's No. 1 software company, as the shares have slipped 46% from their November 2007 high.

The equity is seeing some support in the 19-20 region, but resistance from its descending 60-day moving average could pressure the shares below this level.

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