Software provider Microsoft Corp. (MSFT) reported a number of noteworthy events during the quarter. Investors reacted positively to the announcement that Microsoft will appoint a new CEO within the next 12 months to replace Steve Ballmer. However, shares retreated after the company announced the purchase of Nokia's phone business along with certain patent rights for $7.2 billion as many investors question whether that market will ever prove profitable.
From Diamond Hill Capital (Trades, Portfolio) Large Cap Fund third quarter 2013 commentary.
Also check out: Diamond Hill Capital Undervalued Stocks Diamond Hill Capital Top Growth Companies Diamond Hill Capital High Yield stocks, and Stocks that Diamond Hill Capital keeps buying
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