Updates from Headlines
It seems that Netflix, Apple, Google and Amazon dominate the news and take a lot of the air. I'm glad Gilead (GILD) is doing ell. It's one of my favorite companies. UA, Under Armour is way up. They announced a 2:1 stock split, BUT they have not given the date. This is the same thing that happened to Google a few years ago. Here's what happened then. Google made a 2:1 stock split announcement. It was scheduled at first for a few months out.
BUT then, a big case of stupid stepped in and they said that the new shares issued on the split would have no voting rights. Easy to say, right? But then reality set in. Wow, a new class of stock, this will require a new ticker symbol, new CUSIP numbers, and how will they be priced?
It was a mess, and it took almost a year to get through all of the legal, accounting, and trading (the exchanges). It wasn't needed. If you own 17,000,000 shares with voting rights, and that represents 2.3% of the company, after the split you will own 34,000,000 shares, which is still 2.3% of the company. Your voting percentage, ownership, and control is still the same.
Well, it seems UA caught the same bug. They want to maintain control, and now we're in the waiting process—yes, once again waiting for the legal stuff to play out.
We're watching several others. If you have questions or comments, please feel free to do so.