Google is set to split its stock in an unusual way. The search giant will award shareholders with two additional shares of the company for every one they own, but there’s a twist. Investors who own Class A shares will receive two shares of the newly created Class C Shares. These new Class C shares have no voting rights, meaning the company’s founders will maintain control. Google shares rose a fraction to $1,135.10.
Microsoft made some big announcements at its Build conference today. The company unveiled a voice assistant called Cortana a rival to Apple’s Siri. Also, it will give away its Windows operating system to makers of phones and tablets. Shares fell slightly to $41.35.
Blackberry & T-Mobile
T-Mobile won’t be selling Blackberry’s anymore. Blackberry ended its licensing deal with T-Mobile saying the companies no longer have “complimentary strategies.” This after a recent scuffle between the two companies when T-Mobile emailed Blackberry customers with a promotion to switch to a competing device. Shares of Blackberry were up more than one percent to $8.21. Shares of T-Mobile edged up a fraction $33.49.
GlaxoSmithKline halted a late-stage cancer drug trial. The drug maker’s lung cancer vaccine didn’t increase survival rates. It continued the trial despite the initial failure and tried to find a subgroup of patients that might benefit from the treatment, but that effort wasn’t successful. Shares fell a fraction to $53.00.