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Microsoft shares gain for a second straight session on Thursday, company mitigates an outage with Microsoft 365 services

Microsoft Corp (MSFT) said last week that an issue with its Microsoft 365 services and features, including Teams and Azure, had been mitigated, after many users had no access to them.

An earlier report by outage tracking website Downdetector stated that more than 8,000 users had reported issues with Microsoft’s Teams workplace messaging app.

“We have confirmed that the underlying DNS outage has been mitigated. Currently we’re validating the recovery of the downstream Microsoft 365 services,” the tech giant said in a tweet.

DNS, or Domain Name System, is effectively an address book of the Internet that allows computers to match website addresses with the correct server.

Microsoft shares closed higher for a second consecutive trading session on NASDAQ on Thursday. It has also been the sharpest single-session gain since March 9th. The stock went up 2.79% ($6.58) to $242.35, after touching an intraday high at $242.84, or a price level not seen since February 19th ($243.86).

Shares of Microsoft Corporation have risen 8.96% so far in 2021 compared with a 7.02% gain for the benchmark index, S&P 500 (SPX).

In 2020, Microsoft’s stock went up 41.04%, thus, it again outperformed the S&P 500, which registered a 16.26% gain.

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