Microsoft jumps 6.7%, its largest one-day gain since July 2026

The move

Microsoft closed at $555.80 on 4 November 2026, up 6.7% from $520.99 on 3 November, its largest one-day gain since 30 July 2026. About 50.8 million shares traded on 4 November, 2.3 times the average of the 20 sessions before. In the 20 sessions to 3 November its daily changes had a standard deviation of 1.5% (20-day realized volatility of 24.1% a year), so the move on 4 November was about 4.4 times a normal day.

What the company filed

Filed with the SEC from 31 October to 4 November, as listed on EDGAR:

• 4 November: 8-K (Item 8.01, other events; Item 9.01, financial statements and exhibits).

The latest quarter

In the quarter to 30 September 2026, from the 10-Q filed on 28 October: revenue was $92.3B, up 18.8% on a year earlier; the operating margin was 49.8% against 48.9%; diluted earnings per share were $4.92 against $3.72; capital spending was $39.4B, up 103.0%; free cash flow (operating cash flow minus capital spending, our calculation) was $18.6B against $25.7B. Each figure is against the same quarter a year earlier.

Its earlier moves this size

Microsoft’s latest earlier one-day gains of 5% or more in the daily closes we hold, since 5 November 2024: 30 July 2026, up 15.5%, and up 12.0% 20 sessions later; 29 May 2026, up 5.4%, and down 18.1% 20 sessions later; 9 April 2025, up 10.1%, and up 12.2% 20 sessions later. These are dates, not a pattern: a few moves say little about the next one.

What this note does not say

The filings do not give a reason for the share price move, and neither do we: this note puts the closes and the filings side by side. Every quarter Microsoft has filed, each linked to its filing, is on the MSFT page at /s/msft.