Microsoft executives assured shareholders at an annual meeting that the world's largest computer-software maker is developing products to fuel future growth in a software market that remains strong. You've seen what happened to the Nasdaq in recent months and to PC demand,'' he said. He also cautioned that Microsoft faces significant competition in all areas of its business.
Stocks go up and stock go down.
At the meeting, investors rejected the first-ever shareholder resolutions in company history. One asked the company to disclose political contributions to shareholders, and another sought to compel Microsoft to make sure investments in China don't promote child or prison labor or harm the environment. About 2,000 shareholders attended the meeting in Seattle, according to Caroline Boren, a Microsoft spokeswoman. Some shareholders said the stock's decline this year had little to do with Microsoft's business, attributing the drop to broader market conditions and the U.S. Department of Justice's antitrust action against the company. Earlier this year, a federal judge ordered the company split in two, and an appeals court has scheduled hearings for early next year.