In this video from Friday's Investor Beat, host Chris Hill and Motley Fool Million Dollar Portfolio analyst Ron Gross separate the signal from the noise in the biggest investing stories from the market today.

Shares of Microsoft (NASDAQ:MSFT) were up today despite the overall market seeing a lot of red, as the company announced its Q2 earnings, with the record revenue of $24.5 billion. Sales for both its Surface tablet and its Xbox One gaming console were strong, as were results from its cloud business and data center business. In today's lead story, however, Ron discusses why he's cautious here at the moment ahead of a yet unknown new CEO, and the difficult acquisition of Nokia (NYSE:NOK), which has yet to integrate, as Microsoft continues to be a company in flux and transition.