A very happy Manic Monday to you all. The averages all closed on a positive note today as the market seems to be settling just before the summer months (which tends to be quiet season) is set to begin in just a few weeks. But a few big stories did happen during today’s session.
Microsoft announced on Monday that it has agreed to acquire GitHub — an online platform where software developers store vast amounts of computer code — for roughly $7.5 billion worth of stock. In a decade, the company has grown into the world’s largest host service for software code, from more than 24 million individual users. The Executive chairman of Github is set to becoming a member of Microsoft’s board as well as become the newly minted 30 something billionaire. God what a century this is we live in.
Twitter jumped 5 percent in extended trading on Monday, after the Dow Jones announced the social media company would replace Monsanto in the S&P 500. The changes will go into effect prior to market open on Thursday, June 7, when German pharmaceutical and life sciences company Bayer wraps up its $63 billion takeover of seed-maker Monsanto. Shares of Twitter are up nearly 58 percent year-to-date and more than 100 percent year-over-year
Apple held its annual developer conference today to announce all of the major changes being made to their products this fall. One of the coolest features coming to the iPhone is FaceTime Group, which will allow users to talk to up to 32 people at a time. As an investing club with well over 150 member a feature like this gives me chills. This will be another innovative way for people around the world to collaborate and work remotely without being in the same place. College group projects or work group assignment will never be the same with this new figure. This is Apply trying to combat social apps like House Party that allow multiple users to be on screen at once. And as with mostly everything I have a strange feeling Apple will do this better than anybody else.
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Per usual hope you all have a great and prosperous week and an even better investment week. Will talk to you soon!!
Jamaal W Vetose
Director of Research & Analysis