Team Red, White and Blue (Team RWB), a 501(c)(3) nonprofit organization supporting U.S. veterans, announced that it will be conducting the second annual Old Glory Relay presented by Microsoft Corporation (NASDAQ:MSFT). Microsoft is committed to leading and challenging the technology industry to inspire and develop veterans for robust job opportunities.
Registration is now open for the relay, which will celebrate Old Glory at every stop, and raise awareness and critical funds for the organization and the veterans it supports. Along the route, Team RWB will bring together local communities, Veteran Services Providers, corporate partners, student veterans groups, and local Team RWB Eagles to connect and strengthen the networks that work with veterans to inspire empathy, create action and have impact toward closing the civilian-military divide.
Supported by the local communities along the course and by virtual supporters from across the nation, 59 teams will move Old Glory throughout the 3,400 mile course. The relay will be held over approximately 60 days, commencing in San Francisco on Sept. 11 at sunrise, and concluding in Washington, D.C., on Nov. 8 at sunset.
Each day will begin with the American flag being unfurled and entrusted to the day’s first runner and will end with the last runner folding the flag and storing it for safekeeping overnight. During the relay, the flag will be passed from runner to runner along a pre-determined route, with no less than 50 miles traveled each day. Teams of runners will carry the flag for a day, as well as choose how many runners to use and how far each runner will run. A celebration will be held every day of the relay, to allow towns along the route to participate in meaningful way.
The route cuts directly through the heartland of the country. Route decisions are made based on safety, appropriateness for running, landmarks, and interest in key cities and areas.
“We believe that the Old Glory embodies all of the characteristics we embrace from teamwork and camaraderie to perseverance and sacrifice,” said Blayne Smith, executive director of Team Red, White and Blue.
“We are proud to partner with Team Red, White and Blue as we cross our great nation together in the Old Glory Relay. We strongly admire their organization as it enriches the lives of veterans and their families through inclusive and healthy connections in local communities,” said Chris Cortez, vice president, Military Affairs, Microsoft. “We hope that by engaging our entire Microsoft community in the Old Glory Relay we’ll inspire the IT industry to join us in our mission to open doors to IT careers for the next greatest generation and to embrace the amazing talent veterans have to offer.”
To register as a relay team or as an individual, visit OldGloryRelay.org, click the red Sign-Up Today button, and follow the prompts to set up a team.
Team RWB also invites nonrunners from across the country to participate as virtual supporters of the 59 relay teams. Supporters can contribute to relay teams by providing a team care package, purchasing a team shirt, or making a donation in any denomination toward team fundraising goals at OldGloryRelay.org. Incentives will be awarded to teams that achieve their fundraising goals. (Original Source)
Shares of Microsoft closed last Friday at $45.26 . MSFT has a 1-year high of $50.05 and a 1-year low of $40.12. The stock’s 50-day moving average is $46.65 and its 200-day moving average is $44.54.
On the ratings front, Microsoft has been the subject of a number of recent research reports. In a report issued on June 26, Citigroup analyst Walter Pritchard reiterated a Sell rating on MSFT, with a price target of $37, which represents a potential downside of 18.3% from where the stock is currently trading. Separately, on June 16, Nomura’s Rick Sherlund assigned a Buy rating to the stock and has a price target of $55.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Walter Pritchard and Rick Sherlund have a total average return of 14.3% and 11.8% respectively. Pritchard has a success rate of 71.8% and is ranked #265 out of 3681 analysts, while Sherlund has a success rate of 68.5% and is ranked #176.
In total, 4 research analysts have rated the stock with a Sell rating, 7 research analysts have assigned a Hold rating and 13 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $47.57 which is 5.1% above where the stock closed last Friday.