The economy of Puerto Rico was already struggling, and the strength of Hurricane Maria wreaked further havoc on the country’s potential for growth. The yen recently rose as North Korea’s threat continues to escalate tensions between the U.S. and the Asian country.
Here’s what went down:
Microsoft Corporation (MSFT)
There’s plenty to look forward to from Microsoft moving forward, including its Windows Store, which is now called the Microsoft Store.
The tech giant announced that it will soon begin selling hardware on the store. The company is reportedly planning on selling its entire hardware portfolio on the online store.
Users can’t access the revamped store yet, but insider sources revealed that the Store has a new look, as well as the option to buy hardware devices on the online marketplace.
You will soon be able to buy first-party offerings under the Surface brand, as well as third-party products including laptops, tablets, fitness trackers and other Microsoft accessories.
MSFT shares are up 19.8% year-to-date.
SAP SE (ADR) (SAP)
SAP recently announced the acquisition of Gigya.
Germany-based enterprise software company SAP is looking to expand its hybrid e-commerce division with Gigya, a Mountain View, Calif.-based firm with its R&D based out of Israel.
Gigya’s business focuses on helping online properties manage customer identities and profiles. SAP has not revealed the terms of the deal yet, but sources close to the matter claim the acquisition will set SAP back $350 million.
Analytics firm Zirra told TechCrunch that Gigya was valued at around $250 million in last valuation, which was back in 2014. The company manages the identities of roughly 1.3 billion across hundreds of sites.
The move will help SAP’s e-commerce operations expand the services it offers to existing customers, as well as to sell more e-commerce services to Gigya’s base.
SAP shares are up 27.6% YTD.
Twitter Inc (TWTR)
Twitter is testing a skinny version of its website that only has the essentials for tweeting.
Twitter Lite is an app that runs on devices with Android 5.0 or above, and the company is testing it out overseas in the Philippines. The company might roll it out to additional markets.
“The test of the Twitter Lite app in the Google Play Store in the Philippines is another opportunity to increase the availability of Twitter in this market,” Twitter said. “The Philippines market has slow mobile networks and expensive data plans, while mobile devices with limited storage are still very popular there. Twitter Lite helps to overcome these barriers to usage for Twitter in the Philippines.”
Twitter had mentioned plans to roll out Lite earlier in 2017, which is useful for areas that don’t have consistent data networks or coverage as the slimmed-down version of the app has more reach since it doesn’t have to load as much data.
TWTR shares have risen 8% YTD.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.