Weekly Highlights: Apple And IBM Join Forces, Microsoft Announces Big Layoffs And More
Microsoft (NASDAQ: MSFT) announced an unexpected number of layoffs.
Samsung (OTC: SSNLF) was reportedly on the cusp of a major acquisition.
Google (NASDAQ: GOOG) added new talent to its board.
And Amazon (NASDAQ: AMZN) unveiled an unlimited e-book subscription service.
Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Apple And IBM Teamed Up
…But Investors Shouldn't Get Too Excited
Samsung Expected To Acquire SmartThings
Samsung is expected to acquire a growing firm in the smart home space.
The deal isn't final, but the South Korean tech giant could spend as much as $200 million to acquire SmartThings.
SmartThings was originally launched and funded on Kickstarter. The company has since raised more than $15 million from a smattering of investors.Image Source: Wikimedia Commons
Microsoft Announced Big Layoff Plans…
…But That Won't Stop The Company's Progress
Ivan Feinseth, the Chief Investment Officer of Tigress Financial Partners, doesn't expect Microsoft's layoffs to slow the company's progress.
Feinseth told Benzinga that he expects Microsoft to continue to be "aggressive to hit every market" that Apple is in -- which means more new stores.
"It seems that what helps the Surface sell is the interactive experience with it," said Feinseth. "The fact that people see it in these high-traffic malls and high-traffic areas and play with it -- I think that's been the biggest sales driver."Image Source: Wikimedia Commons
JIBO, The First "Family Robot," Raised Big Money On Kickstarter
Alan Mulally Joined Google's Board
Amazon Unveiled Its Unlimited E-Book Strategy
Amazon will now allow its customers to subscribe to a monthly e-book service.
The $9.99 monthly fee is more expensive than Netflix, but Amazon makes up for that with a catalogue of 600,000 books. The Lord of the Rings and Harry Potter are among those that subscribers can read.Image Source: Wikimedia Commons
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