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Citigroup raised its third-quarter profit and revenue estimates for Microsoft based on the outlook for the Windows Vista operating system.
Analyst Brent Thill, in a note to clients Wednesday, increased his estimates for earnings by 2 cents to 47 cents a share and for sales to $14.1 billion from $13.8 billion.
Momentum is starting to build after the "successful launch" of Vista earlier this year, he said.
"We believe that sentiment is overly negative following CEO Steve Ballmer's tempering of Vista expectations," Thill said.
Ballmer told analysts in February that some of their expectations for Vista sales were too high.
Microsoft shares rose 63 cents, or 2.3 percent, to $28.50 at Wednesday's close.
Micron Technology
Loss for quarter but still bullish
Top U.S. memory-chip maker Micron Technology posted a second-quarter loss Wednesday due to falling prices but forecast strong demand for the rest of the year. Its shares rose 3.6 percent in after-hours trading
Loss for quarter but still bullish
Top U.S. memory-chip maker Micron Technology posted a second-quarter loss Wednesday due to falling prices but forecast strong demand for the rest of the year. Its shares rose 3.6 percent in after-hours trading



Micron had a loss of $52 million, or 7 cents a share, for its quarter ended March 1. That compared with a profit of $193.2 million, or 27 cents a share, a year earlier and was short of the average Wall Street forecast for a loss of 1 cent a share.
Micron's revenue was $1.43 billion, up 16.5 percent from a year earlier and shy of the average estimate of $1.47 billion.
Investors appeared to take heart in the view expressed by Mike Sadler, Micron's vice president of sales, that memory prices had stabilized, said Doug Freedman, an analyst with American Technology Research.
The results were announced after the market closed. In after-hours trading, Micron's stock rose 43 cents to $12.50.
Nation / World
Labor unions
Grocery workers walk out of talks
The local unions representing grocery workers in Southern California walked out of contract talks Wednesday, a spokesman said, after three grocery chains authorized a lockout if the unions call a strike.
"We aren't negotiating anymore," said Mike Shimpock, spokesman for seven local United Food and Commercial Workers unions representing some 65,000 workers.
But a spokeswoman for the three chains — Supervalu's Albertsons, Kroger's Ralphs, and Safeway's Vons — said negotiations were ongoing and that the two parties were deciding when next to meet.
She also cited an agreement between the parties that contract talks were not to be discussed.
Workers at Albertsons passed a resolution last month giving the local unions authority to call a strike against the supermarket chain if contract negotiations break down.