Marco della Cava, reporting for USA Today: Microsoft shares surged 5% in early trading Friday, and passed a high set in 1999, helped by enthusiasm for progress in its cloud business. The stock was at up at $60.11, breezing past the $58.72 mark set in December 1999. Friday's rally follows Microsoft's latest quarterly report, out late Thursday, that beat analyst expectations for adjusted sales and profit and showcased a doubling of growth in its Azure cloud business, while reflecting continued strain from consumers' pivot away from PCs and traditional software purchases.Microsoft reported its Q1 2017 earnings yesterday, noting a revenue of $20.5 billion, which was higher than Wall Street's expectations. Company's Intellgent Cloud revenue was up 8 percent, whereas Azure revenue observed 116 percent growth year-on-year.
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