- Google is now Alphabet
Google announced on Monday that they were forming a parent company called Alphabet. Don’t worry this is not a splitting of the company Google, but rather a more streamlined consolidation of the company as a whole. As we have seen recently Google has become more of a Berkshire Hathaway than just a search engine as they have dabbled in everything from cars to extending life indefinitely. But what does this mean for investors? In truth not much in the short-term; investors who currently own Google will just have their shares transformed into Alphabet stock and will keep their current number of shares. However, in the long run we can look forward a company that is more focused as the parent company structure allows each department to coexist separately rather than a jumbled mess.
For a more detailed analysis from Jim Cramer click here
- Shake Shack Earnings Beat the Street
Shake Shack released its Q2 2015 earnings on Monday and destroyed Wall Streets estimates of 3 cents per share on $43 million in revenue with $48.5 million in revenue on 9 cents per share. The stock, in after hours trading, is up 7.73%.
- People’s Bank of China Lets Yuan Depreciate
The PBOC set Tuesday’s Midpoint at 6.2298 per U.S. dollar which is a decrease of approximately 2% from Monday. For a more detailed account click here
- Gold Above $1,100 Again
Gold reached as high as $1,108.80 on Monday the highest price since July 21, 2015. This was due to a less than expected jobs number released last week.
- Oil Ends the Day Up
Oil ended the trading day Monday up 2.48% at $44.96. This was due to an outage at a refinery in Whiting, Indiana due to a malfunction on Saturday. However, the rally was short-lived as oil is now down 0.80% at $44.60. The rally on Monday should not cause anybody to think that oil has hit the bottom. Always remember to look at the bigger picture; in this case Saudi Arabia, Iran, and United States’ drillers. Oil has not reached its bottom and I would not care to guess where that is until we receive accurate and definitive numbers out of Iran.
- Kyushu Electric Power Restarts Reactor At Sendai Plant
After the 2011 Fukushima disaster all of Japan’s nuclear plants were shutdown for safety inspections and evaluations. Since the plants were shutdown Japan began to rely on the importation of fossil fuels to power the country. Even though over $100 million has been spent on fitting new safety equipment to the reactor there are still large protests over the restart of the power plants as Japan is in an earthquake prone area.
- Australia to Cut Emissions
Australia has pledged to cut greenhouse gas emissions by 26% to 28% below 2005 levels by 2030. As more countries pledge less reliance on fossil fuels is this the end of oil dominance? I think so. For more information please click here