Shares of Apple Inc. (NASDAQ:AAPL) ended Thursday session in red amid volatile trading. The shares closed down -2.84 points or -2.62% at $105.52 with 5.39 billion shares getting traded. Post opening the session at $107.25 the shares hit an intraday low of $105.24 and an intraday high of $107.27 and the price vacillated in this range throughout the day. The company has a market cap of $572.07 billion and the numbers of outstanding shares have been calculated to be 5.39 billion shares.
Apple Inc. (AAPL) on September 7, 2016 introduced iPhone® 7 and iPhone 7 Plus, the best, most advanced iPhone ever, packed with unique innovations that improve all the ways iPhone is used every day. The new iPhone features new advanced camera systems that take pictures like never before, more power and performance with the best battery life ever in an iPhone, immersive stereo speakers, wide color system from camera to display, two new beautiful finishes, and is the first water and dust resistant iPhone. iPhone 7 and iPhone 7 Plus will be available in more than 25 countries beginning Friday, September 16.
“iPhone 7 and iPhone 7 Plus dramatically improve every aspect of the iPhone experience, reaching a new level of innovation and precision to make this the best iPhone we have ever made,” said Philip Schiller, Apple’s senior vice president of Worldwide Marketing. “The completely redesigned cameras shoot incredible photos and videos day or night, the A10 Fusion chip is the most powerful chip on any smartphone while delivering the best battery life ever in an iPhone, and an entirely new stereo speaker system provides twice the sound, all within the first water and dust resistant iPhone.”
New Advanced Camera Systems
iPhone 7 and iPhone 7 Plus take the world’s most popular camera and make it even better with entirely new camera systems. The 12-megapixel camera includes optical image stabilization on both iPhone 7 and iPhone 7 Plus, and a larger ƒ/1.8 aperture and 6-element lens enable brighter, more detailed photos and videos, and a wide color capture allows for more vibrant colors with more detail. iPhone 7 Plus features the same 12-megapixel wide angle camera as iPhone 7 and adds a 12-megapixel telephoto camera that together offer optical zoom at two times and up to 10 times digital zoom for photos.
Coming later this year, the dual 12-megapixel cameras also enable a new depth-of-field effect, using both cameras on iPhone 7 Plus to capture images, while sophisticated technology including Machine Learning separates the background from the foreground to achieve amazing portraits once possible only with DSLR cameras.
Shares of Procter & Gamble Co (NYSE:PG) ended Thursday session in red amid volatile trading. The shares closed down -0.17 points or -0.19% at $87.78 with 2.67 Billion shares getting traded. Post opening the session at $87.95 the shares hit an intraday low of $87.63 and an intraday high of $88.18 and the price vacillated in this range throughout the day. The company has a market cap of $232.49 million and the numbers of outstanding shares have been calculated to be 2.67 billion shares.
Procter & Gamble Co (PG) on September 1, 2016 announced the commencement of an exchange offer for the separation of its global fine fragrances, salon professional, cosmetics and retail hair color businesses, along with select hair styling brands (collectively referred to as “P&G Specialty Beauty Brands”).
This represents the next step in the proposed tax-efficient Reverse Morris Trust transaction with Coty Inc. (COTY) announced on July 9, 2015. In the proposed split-off transaction, P&G will transfer the assets and liabilities of P&G Specialty Beauty Brands, other than specified excluded brands, to Galleria Co., a wholly owned subsidiary of P&G created to facilitate the transaction. Following completion of the exchange offer, Galleria Co. will merge with a wholly owned subsidiary of Coty and become a wholly owned subsidiary of Coty.
The exchange offer provides P&G shareholders with the opportunity to exchange their shares of P&G common stock for shares of Galleria Co. common stock, which will convert into shares of Coty class A common stock upon completion of the merger. The exchange and the merger are expected to be tax-free to participating P&G shareholders for U.S. federal income tax purposes.