Wednesday, June 8, 2016
Oil Builds on Gains, Alphabet may Face Questions About Nest: TheStreet
Published on 8 Jun 2016
Oil is building on its highest close of the year. Prices have nearly doubled since hitting 13 year lows earlier in the year. Energy stocks have rebounded as well, sending the S&P 500 to a 10 month high. Alphabet ( ) meets with investors today. The Google parent company may have to face questions about the fate of its Nest smart device unit. Nest's founder abruptly resigned last week. Google bought Nest in 2014 for $3.2 billion and the company went on a hiring and acquisitions spree. It's also expected to address the gender pay gap. The Alphabet meeting will be live streamed. Lululemon ( ) shares are down in the pre-market after its earnings report disappoined. Same store sales were higher but overall, results missed.