Settlement rumors drive MS stock

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Settlement rumors drive MS stock

Despite a dismal day on Wall Street, Microsoft shares rose on rumors of a deal between the software giant and the U.S. Department of Justice.

The DOJ threw cold water on the matter, issuing a statement that “settlement rumors are unfounded.” Microsoft declined to comment.

Shares of Microsoft closed at 98.69 – up 2.06 – following a CNBC report that the software giant and the DOJ may be close to a settlement.

Both sides in the landmark antitrust trial met in Chicago this week for the third Monday in a row, according to reports. A federal appeals court judge is mediating the settlement talks.

Absent an agreement, the case is set to resume on Jan. 17.

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