Recapping Apple’s Flagship Event

It’s September, so it’s time for Apple’s annual iPhone event. 📱

CNBC has a good summary of the new iPhones, AirPods, and Apple Watches announced:

The first thing of note is that the prices of the new iPhone stay the same as last year. Given the inflationary pressures facing most of the U.S. economy (and the world), many had expected a price increase for most of Apple’s products.

Additionally, Apple’s push into health care continues. Its new Apple Watch Series 8 has a temperature sensor, which can help monitor health data, including ovulation. Given the sensitivity of this health data, the company designed the device to keep data secure with enhanced security features. ⌚

And speaking of safety, the company also announced the ability to connect its iPhone 14 series to satellites for emergency services. Apple partnered with Globalstar to offer this long-rumored capability. 🆘

The stock didn’t react much today, which CNBC notes is fairly typical based on past events. Instead, we should expect movement in a month or two as data about the current iPhone cycle trickles in. 🗓️

Some High-Profile Headlines

There were some major Wall Street players in the news today; let’s find out why. 👀

The first is Elon Musk, who revived his deal to buy Twitter at the original $54/share price just days before they were due in court. The news sent shares soaring towards that buyout price before they were halted for about three hours, opening again briefly before the market closed. Twitter confirmed that it received Musk’s letter of intent to complete the transaction at $54.20/share and intends to close the deal with him.

Read It

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.”

Read It

Huadi Heck Did That Happen?

It’s been a little while since a strange, low-float Chinese company rallied triple digits. But fear not, another one has popped up. 📈

Its name is Huadi International Group, and it’s a China-based micro-cap company in the business of industrial stainless steel products. While its products are used in various industries, the company’s exposure to China’s real estate market has been of major concern for investors.

Read It

Let’s Get Ready To $RUM-ble

After months of anticipation, blank check company CF Acquisition Corp. VI ($CFVI) completed its business combination with the video-sharing platform “Rumble.” The combined company’s shares began trading on the NASDAQ today under the ticker symbol $RUM.

In an age where most social media platforms like YouTube have to choose between censorship and hosting a free-for-all, Rumble is stepping in as a high-growth neutral video platform. It says its goal is to create rails and independent infrastructure designed to be immune to cancel culture, hence its mission to restore the Internet to its roots by making it free and open again.

Read It