The gross margin widened from 83% to 85%. Microsoft has nearly $34 billion of net cash (cash minus debt). Microsoft's stock trades at a trailing earnings multiple of 11, a forward earnings multiple of 9.4, a sales multiple of 3.3 and a cash flow multiple of 8.3, 69%, 60%, 76% and 53% discounts to software averages. TheStreet's stock model rates Microsoft "buy" with a target of $29.30, implying 9% upside. 4. Alcoa ( AA ) produces and sells aluminum. Its stock has dropped 16% year-to-date, but has rebounded 28% in the past three months. Third-quarter net income decreased 21% to $61 million. Earnings per share fell a more-modest 14% to 6 cents. Revenue gained 15%. The gross margin improved from 16% to 17% and the operating margin stretched from 2.4% to 4.6%. Alcoa carries $843 million of cash and $9.3 billion of debt, equaling a quick ratio of 0.7 and a debt-to-equity ratio of 0.7.