STOCKWATCH Microsoft reiterated 'strong buy' at Wit SoundView

SAN FRANCISCO (AFX) - Microsoft Corp shares were reiterated a 'strong buy' by Wit SoundView analysts, who said the stock is "a strong technology shelter in an uncertain technology market" and is poised for "strong" growth next year. At 1.24 pm in New York, the stock rose nearly 8 pct to trade 4-1/16 higher at 56. The Nasdaq composite added 111.92 points, or 6.83 pct, to 1,750.72 and the DJIA gained 324.39, or 3.41 pct, to 9,839.81. Analyst Mark Specker said his hecks "continue to indicate that Microsoft is on track for the quarter and should be able to achieve an in-line quarter against previously reduced guidance." "We are buyers of the stock into the quarter." The First Call/Thomson Financial consensus estimate calls for third-quarter earnings to March of 42 cents a share, down from 43 cents last year. "Based on revised revenue guidance, we believe that management has also significantly lowered their internal estimates for PC unit shipments and has good visibility of those unit shipments with their December, January and February royalty numbers."

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