Shares of Twitter Inc (NYSE:TWTR) ended Friday session in red amid volatile trading. The shares closed down -0.58 points or -3.13% at $18.11 with 30.86 million shares getting traded. Post opening the session at $18.40, the shares hit an intraday low of $17.92 and an intraday high of $18.82 and the price vacillated in this range throughout the day. The company has a market cap of $12.41 billion and the numbers of outstanding shares have been calculated to be 707.73 million shares.
On September 1, 2016 Twitter and China’s influential financial media organization Yicai (formerly branded as China Business Network) announce a collaboration to grow Yicai’s global influence in the financial industry through the global live communications platform. The collaboration will feature live news content from @YicaiChina (https://twitter.com/YicaiChina) on Twitter that seeks to deepen understanding of China’s economy, financial and capital market, with a special focus on entrepreneurship and innovation, technology, media and telecommunications (TMT). Yicai will also provide real-time China A-share market updates from @ChinaStock (https://twitter.com/ChinaStock) on Twitter.
Twitter is the first international social media platform that Yicai is leveraging to reach global audiences interested in learning more about China’s business scene and China’s perspective on the mega financial shifts globally. Apart from financial news, Yicai will post video interviews with key entrepreneurs, policy makers and other financial professionals, and conduct live Periscope broadcast interviews from featured journalists discussing global trends.
One of the first collaborations will be Yicai’s coverage of the G20 meetings in Hangzhou, China in September. The global audience and business world can follow @YicaiChina for live coverage of the G20 meeting highlights using the #G20China hashtag on Twitter.
“We recognize that Twitter is where major global media influencers, Fortune 500 executives and thought leaders like Tim Cook and Elon Musk share their views, make announcements and keep up with the latest global trends. Every second counts in the financial market and we want to be part of the global live conversation and there is no better place to do it except on Twitter,” said Mr. Zhou Jiangong, CEO of Yicai Media Group.
Shares of Intel Corporation (NASDAQ:INTC) ended Friday session in green amid volatile trading. The shares closed up -1.00 points or -2.74% at $35.44 with 29.46 million shares getting traded. Post opening the session at $36.10, the shares hit an intraday low of $35.44 and an intraday high of $36.39 and the price vacillated in this range throughout the day. The company has a market cap of $163.07 billion and the numbers of outstanding shares have been calculated to be 4.73 billion shares.
On September 8, 2016 Intel Corporation and TPG announced a definitive agreement under which the two parties will establish a newly formed, jointly-owned, independent cybersecurity company. The new company will be called McAfee following transaction close. TPG will own 51 percent of McAfee and Intel will own 49 percent in a transaction valuing the business at approximately $4.2 billion. TPG is making a $1.1 billion equity investment to help drive growth and enhance focus as a standalone business.
Through this transaction, TPG, a leading global alternative asset firm with demonstrated expertise in growing profitable software companies and carve-out investments, and Intel, a global technology leader that powers the cloud and billions of smart, connected computing devices, will work together to position McAfee as a strong independent company with access to significant financial, operational and technology resources. With the new investment from TPG and continued strategic backing of Intel, the new entity is expected to capitalize on significant global growth opportunities through greater focus and targeted investment.
The new company will be one of the world’s largest pure-play cybersecurity companies. Last year, Intel Security unveiled a new strategy that refocused the business on endpoint and cloud as security control points, as well as actionable threat intelligence, analytics and orchestration. This new strategy allows customers to detect and respond to more threats faster and with fewer resources.
“Security remains important in everything we do at Intel and going forward we will continue to integrate industry-leading security and privacy capabilities in our products from the cloud to billions of smart, connected computing devices,” said Brian Krzanich, CEO of Intel. “As we collaborate with TPG to establish McAfee as an independent company, we will also share in the future success of the business and in the market demand for top-flight security solutions, creating long-term value for McAfee’s customers, partners, employees and Intel’s shareholders. Intel will continue our collaboration with McAfee as we offer safe and secure products to our customers.”
“We believe that McAfee will thrive as an independent company. With TPG’s investment, along with continued support from Intel, McAfee will sharpen its focus and become even more agile in its response to rapidly evolving security sector,” said Jim Coulter, Co-Founder and Co-CEO of TPG. “TPG is excited to partner with Intel and McAfee management to accelerate growth of the business by enhancing its go-to-market strategy and continuing to grow and strengthen its core product offerings.”