The Daily Chase: Google splits to ease sticker shock; Oil steady as OPEC+ meets
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Google's parent company is aiming to make its shares a little more accessible by proposing to split its stock 20:1 in July.
Google's parent company is aiming to make its shares a little more accessible by proposing to split its stock 20:1 in July. No doubt that will help attract some investors who may have been scared off by sticker shock as GOOGL shares climbed to more than US$3,000 apiece a couple months ago (though its price-to-earnings multiple compared to, say, Shopify makes it a relative bargain). We’ll dig into the rationale and what its shareholders can look forward to after ad-fuelled growth helped Alphabet trounce expectations in its latest quarter.
OPEC+ MEETING
The group of oil-producing countries is staying the course. Bloomberg News is citing delegates who say the group agreed to boost monthly production by another 400,000 barrels per day. Since the last meeting on Jan. 4, optimism about demand growth and tightening supplies has pushed the price of West Texas Intermediate crude 15 per cent higher to fresh seven-year highs.
A MISSED OPPORTUNITY IN GLOBAL INVESTING
BNY Mellon Investment Management is out with a report today indicating there would be an additional US$3.2 trillion in assets circulating in the industry if women invested at the same rate as men. “Until people believe that investing can be for everyone and managed by people who they believe generally have their best interests at heart—we are pushing a very heavy boulder up a very steep hill,” said Holly Mackay, who sat on BNY’s expert advisory panel, in a release. Particularly since this is Your Money Month at BNN Bloomberg, we’ll dig into the report and assess what it will take to make investing more welcoming and inclusive.
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