Microsoft has best day since Oct. 2015, lifting overall tech sector

Shares of Microsoft Corp. surged on Monday, jumping in its biggest one-day pop in years and helping to lead both the technology sector and the broader market higher. The stock
MSFT, +7.57%
a Dow component, climbed 7.6% and posted its best day since Oct. 2015. Gains came after Morgan Stanley raised its price target on Microsoft to $130, a level that implies upside of 40% from current levels. In addition, Microsoft announced an extension of its China partnership with Adobe Systems Inc.
ADBE, +6.46%
Shares of Adobe ended up 6.5%. Microsoft was the biggest percentage gainer in the S&P 500 on Monday, and the rise contributed to the 4% gain in the technology sector
XLK, +3.80%
which was the top-performing industry group of the day. Trading in Microsoft was heavy, with more than 55.3 million shares exchanging hands, well above its 30-day average of 31.8 million. Thus far this year, Microsoft is up 9.6%. The Dow Jones Industrial Average
DJIA, +2.84%
rose 2.8% on Monday while the S&P 500
SPX, +2.72%
was up 2.7% and the Nasdaq Composite Index
COMP, +3.26%
climbed 3.3%.

Read the full story: Microsoft shares surge as Morgan Stanley note teases trillion-dollar company track

Quote References MSFT +6.60 +7.57% ADBE +13.89 +6.46% XLK +2.44 +3.80% DJIA +669.40 +2.84% SPX +70.29 +2.72% COMP +227.88 +3.26% Show all references
MarketWatch Partner Center