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$JEC said in Petroleum & Chemicals, the upstream oil and gas sector is under the most pressure. Oil production in the Middle East continues to rise. Margins are under significant pressure due to heavy competition. Refining business remains positive especially in maintenance, turnaround and sustaining capital projects.
No better outlook on $MSFT. Even if the results beat a bit, the stock may move 4 to 6% higher, but won't go above $60.