Another Company Leaving California -- At Least Parts Of The Company -- March 4, 2022

Companies leaving California are tracked here. 

Now this: Florida's governor DeSantis announces that global shipping company, Sea-Lead Shipping, is moving part of their operations from California to Jacksonville. Link here. 

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MSFT

Darling of Wall Street late 2021. Then sold off early, 2022, with tech sell-off and oil surging.

March 4, 2022: market down today, but oil and oil companies did well; some surged (OXY up 17%).  UNP surged. MSFT sold off, dropping 2.6%; off $7.75, and trading at $288. "One hour ago": Boston Business Journal: Microsoft completes $20 billion acquisition of Nuance.

• Burlington, MA-based
• deal announced one year ago
• just days ago, UK anti-trust regulators approved the deal, the last major step in the merger process;
• received US approval last year;
• Nuance: one of the largest software-development firms in Massachusetts
• known for helping Apple build its Siri virtual assistant
• incorporated in 1992 as Visioneer; changed its name to ScanSoft in 1999; became Nuance Communications in 2005.
• revenue approx $1.5 billion in FY2020 with 62% coming from its healthcare segment
• represents latest step in Microsoft's industry-specific cloud strategy;
• second-largest deal may by MSFT after its purchase of LinkedIn fro $26 billion in 2016;
• how Nuance fits MSFT's business strategy:

The company’s healthcare delivery solutions like Nuance electronic health record (EHR) services, Dragon Ambient eXperience (DAX), Dragon Medical Virtual Assistant, Dragon Medical One are expected to witness momentum amid and after the pandemic. Microsoft added that Nuance solutions are leveraged by nearly 77% of hospitals as well as used by more than 55% of physicians and 75% of radiologists in the United States.

MSFT:

• total cash: $125 billion;
• operating cash flow: $85 billion
• no one is shorting MSFT

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