Investors cheered good phone news from Apple. The tech giant announced that sales of its new iPhone 6S and 6S Plus are on track to beat last year’s first weekend record sales. The company took pre-orders for the phones starting Saturday. The phones will go on sale September 25th. Shares of the Dow component rose almost one percent to $115.31.
A report from Barron’s weighed on shares of Alibaba today. The publication said the company’s stock could plunge 50 percent from current levels and it questioned the accuracy of some of the claims Alibaba has made about its user count and shopper spending. Alibaba responded in statement saying: “We take strong issue with the reporting about the state of our company and feel compelled to set the record straight.” The company went on to defend itself against the allegations. Shares tumbled three percent to $62.60.
Shares of Yandex rose today. This as Russian authorities ruled that Google was abusing its market position in the country and would face penalties. Yandex saw its stock pop almost seven percent to $12.05
Shares of Raptor Pharmaceuticals went the other way after the firm announced it will stop developing its liver drug. This as the treatment failed to meet the main goal in a mid-stage study. Shares tumbled 37 percent to $7.52.
Solera Holdings, which is a provider of tech services to insurance firms, will be acquired by an affiliate of Vista Equity Partners. The deal is valued at $6.5 billion. Shares rose 8.5 percent to $53.66.
Twitter has partnered up with the payment processing company stripe. The move will let retailers sell on twitter. Customers will merely have to click on a buy button on the site. Twitter shares slipped nearly two percent to $26.90.