Quite a bit is shaking down at Microsoft (MSFT: sentiment, chart, options) this week, with a shakeup in the company's online business and CEO Steve Ballmer making his case in the company's analyst day presentations. However, it was the online restructuring that has created the most waves. First, MSFT is splitting its online business in half, with Windows Live on one side, and ad media assets on the other.

The unforeseen consequence of this restructuring was the defection of Kevin Johnson, former Platforms and Services Business division director, to Juniper Networks (JNPR). Current JNPR CEO Scott Kriens is expected to stay on as chairman and remain involved in the company's long-term strategy. Mr. Johnson takes the reins in September.

For JNPR, the move arrives just ahead of the company's second-quarter earnings report, slated for after the close of trading this afternoon. For the quarter, Juniper is expected to report earnings of 26 cents a share on revenue of $853.14 million. Heading into the report, Wall Street isn't happy with JNPR, as 15 of the 22 analysts following the shares rate them a "hold." At last check, JNPR was hovering just above breakeven, while MSFT was off more than 3%