The U.S. stock market reached new heights Friday, while oil prices continued to drop–now down six cents for the price of regular grade ($2.16) over the last two weeks. Meanwhile, the S&P 500 closed at a new high of 2,182.87 Friday, while the Dow Jones Industrial Average achieved the same feat, rising to 18,543.53.
There was plenty of noise in the tech world over the weekend, with companies like Apple Inc. (NASDAQ:AAPL) and Alphabet Inc (NASDAQ:GOOG,NASDAQ:GOOGL) making headlines. It was also a successful couple of days for one of the world’s leading cinema companies — IMAX Corporation (USA) (NYSE:IMAX).
Here’s what you need to know:
Apple Inc. (AAPL)
Apple’s iPhone 7 continues to be a hot topic as consumers eagerly await the smartphone.
Whether or not the device will meet expectations is anyone’s bet, but more light is being shed on what we can expect from it. The iPhone 7 will include dual-lens camera technology, which means two lenses on one camera.
Additionally, a new video was released that reveals three different versions of the device: a 4.7-inch iPhone 7, and two 5.5-inch smartphones–a ‘Plus’ and a ‘Pro.’
Apple may launch preorders for the phone on Sept. 9 of this year, with the iPhone 7 hitting stores on Sept. 16.
AAPL shares are up 2.1% year to date.
Alphabet Inc (GOOG, GOOGL)
Google made plenty of headlines over the weekend, including an exciting new initiative by scientists.
Researchers hope to use Google’s technology to learn more about valleys, mountains and underwater volcanoes. The project will take place over the next 14 years and it has at least 150 oceanographers signed on.
The search engine recently expanded its Google Analytics tool — released in May 2016 — in order to share more data surrounding how much your website is covered with Google searches. Find out how to do so here.
On a dimmer note, Alphabet’s self-driving project leader Chris Urmson is leaving the company in search for a new challenge.
GOOG shares have risen 10% over the last three months, while GOOGL stock is up 11.3% over that span.
IMAX Corporation (USA) (IMAX)
IMAX had a strong weekend thanks to the release of Suicide Squad.
The film — starring Jared Leto, Margot Robbie and Will Smith — set a new record for the largest IMAX debut in the month of August. Suicide Squad netted $18.2 million on more than 600 IMAX screens across the globe.
$11 million — or 60.4% — of what the movie tallied involved U.S. cinemas. The previous August IMAX record was held by Guardians of the Galaxy, which earned $15.9 million worldwide in its opening weekend.
Suicide Squad has been met with mixed reviews from fans, and it’s been generally panned by critics, garnering a 26% ‘Rotten’ vote on Rotten Tomatoes.
IMAX shares could use a boost as the stock has declined 9.1% YTD.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.
