Microsoft Shares Rise To New 14-Year High After Massive Layoffs Announcement

Microsoft shares jumped 3.8% yesterday to close at a 14-year high.

And after today's massive layoff announcement, in which the company said that it would cut 18,000 jobs, the stock is only going higher.

In pre-market trading, MSFT is up 2.4%.

Microsoft is a component in the Dow Jones Industrial Average and its one of the most heavily weighted stocks in the S&P 500 and Nasdaq.