In The News:
Just say No…
British markets rallied Friday morning as Scotland’s decision to stay in the United Kingdom eased investors past the latest in a recent run of global political obstacles. With almost all of the votes in, the keep Scotland in the UK camp was ahead 55% to 45%. European markets weren’t the only one rallying on the news, the Sterling jumped to a two-week high against the dollar and a two year high against the Euro.
Oracle (ORCL) announced Thursday Larry Ellison, co-founder of the software giant, is stepping down from the chief executive role. Ellison will become the company’s chief technology officer and the executive chairman of the board of directors. Ellison, 70, will continue to manage the software and hardware engineering function at the technology giant. The CEO job will now be shared by Oracle executives Mark Hurd and Safra Catz. Hurd will oversee, sales, service and lines of business tied to specific industries. Catz will handle all manufacturing, finance, and legal responsibilities.
Go Ali… It’s Your Birthday…
The day has finally arrived Alibaba, the Chinese Amazon, will begin trading on the New York Stock Exchange today. Late Thursday, the China-based e-commerce giant priced its shares at $68 apiece, making the deal one of the world’s biggest ever initial public offerings. IPO. The pricing values the company at $167.6 billion, making it more valuable than Amazon.com (AMZN), which has a market value of $150 billion, and Citigroup (C), with a market cap of about $163 billion.
In The Markets:
Asian shares closed out the week in a sea of green. Investors felt like buying following a boost of liquidity in China and Scottish voters decided against leaving the United Kingdom.
European shares closed higher Thursday after an announcement on how the ECB will make key decision in the future.
US markets rallied on Thursday with the Dow Jones closing up triple digits. Investors passed over mixed economic reports on jobs and housing instead relishing in the Federal Reserves renewed vow to keep interest rates low. DJIA: +109.14 17265.99 S&P 500: +9.79 2011.36 NASDAQ: +31.24 4593.43
In Word Of The Day:
Initial Public Offering (IPO):
The first offering of stock by a private company to the public. IPOs are often issued by smaller, younger companies seeking the capital to expand, however, the process can also be done by large privately owned companies looking to become publicly traded.
In Dinner or Drink:
2 pieces lemons
2 – 3 mint leaves
3/4 oz. simple syrup
1 1/2 oz. whiskey
1 oz. water
Muddle the lemon, mint, water and simply syrup in the bottom of a mixing glass. Add bourbon, shake, and strain into an old-fashioned glass filled with crushed ice. Garnish with a sprig of mint, and serve.
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Have a safe and wonderful weekend, Yall!