Microsoft Makes New All-Time High After Q2 Beat

Microsoft Corporation MSFT shares are trading higher by $1.23 (2 percent) at $65.50 in Friday's session.

The catalyst for the rally is a Q2 EPS beat of $0.05 along with a $776 million beat for revenues. This marks the ninth time in the last 10 quarters, dating back to Q1 2014, that the company has produced such results.

After a much higher open, it found a wave of sellers that pushed the issue within $0.35 of the top of Thursday's range ($64.54), with the decline ending at $64.89.

Since making that low, it has rebounded to make a new for the session at at $65.64 and is not far off that level. The Street was leaning the right way into the report, as the issue posted a new all-time high ($64.54) and all-time closing high ($64.27) on Thursday.