Not The Edit Button We Expected

Apple’s Worldwide Developers Conference kicked off today and brought a lot of announcements!

What created a ton of buzz was the company’s three changes to its messaging app, introducing: edit, undo send, and mark as unread.

As you might imagine, reactions were mixed, with many asking, “what could possibly go wrong?

Although we’ve all been waiting for a Twitter edit button, we’ll have to settle for this. The company seems to have other priorities right now, like its daily battle with Elon Musk over his takeover bid.

Other major announcements from the Apple event included:

  • New iPhone software, called iOS 16
  • New Mac software, called macOS Ventura
  • New iPad software, called iPadOS 16
  • Apple Pay Later, its buy-now-pay-later service
  • An all-new MacBook Air
  • A new 13-inch MacBook Pro
  • and much more!

$AAPL was up 0.52% today, in line with the overall market.

Roblox’s September Report Card Shows Improvement

Summer is over, so kids are back to school, and adults are back to their regular routines. Unfortunately, for companies like Roblox, which rely heavily on a younger demographic, this often means trouble for their business metrics. 

The last time we spoke about Roblox was in August when the company reported lower-than-expected earnings and revenue numbers. In addition, its daily active users (DAUs) came in at 52.2 million, nearly a million less than expected. Since then, the stock has continued to fall with the rest of the market.

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New Jersey Deli Serves Up Securities Fraud

Remember the small-town New Jersey deli worth $100 million in the stock market in 2021? You probably don’t because so much crazy stuff has happened since then. However, the Securities and Exchange Commission (SEC) hasn’t forgotten.

Investor David Einhorn unearthed the infamous New Jersey deli in a 2021 letter to clients. The hedge fund titan highlighted that the company was valued at over $100 million despite only having $35,000 in sales. He aimed to highlight the highly irregular market dynamics and warn investors of the danger. ⚠️

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What Toothpaste & Software Have In Common

Toothpaste and software companies don’t typically have much in common, but today they do. Colgate and Salesforce have both attracted the attention of activist investors. 🧐

Starboard Value is picking up shares of Salesforce after they’ve fallen more than 50% over the last year. The fund’s founder, Jeff Smith, says there’s opportunity in the enterprise software maker and that its valuation discount is due to a “subpar mix of growth and profitability.”

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