Microsoft’s transition to the cloud may be pinching margins, but its commercial licensing business will carry the company through, said Harry Hartford, portfolio manager for Causeway Capital Management. Hartford added that Microsoft’s management is making the right moves after the previous regime wasted a lot of money. He is also bullish on shares of Novartis, saying the pharmaceutical giant has a stellar pipeline, excellent management and improving margins. Finally, Hartford is positive on China Mobile in the wake of its strong first quarter results, saying the carrier is a dominant player with preeminent technology.
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