Diamonds and Dogs
Google Inc. (GOOG) (GOOGL)
Google is actually being "googled" today, up 4.66% to $662.78. The online search provider saw its shares rally after news that the company would restructure itself under a holding company called Alphabet. Under the restructuring, Google's main web operations would be separated from its new endeavors such as Google X and Calico. The move is said to help Google make future acquisitions or divestments easier. Alphabet is being welcomed with open arms from investors today, with shares up over $29.00 and creeping up near their 52-week high of $678.64.
Evestnet Inc. (ENV)
Evestnet isn't managing its wealth well today, down 33.49% to $30.60. The wealth management software company saw its shares tank after announcing a deal to buy Yodlee Inc. for an all cash deal of $590 million. Yodlee has a personal finance app that services 11 countries. The deal is part of an arms race among investment firms looking for alternative options. The deal seems to worry investors as Evestnet fell over $15 a share to a new 52-week low of $30.01.