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Following a dreary Halloween week for U.S. stocks, the market looks to rebound as the unemployment rate falls from 5% to 4.9% from September to October, while U.S. stock futures gained. Additionally, the current political climate suggests that we will elect our first woman president tomorrow.
It was a busy weekend for a few companies that revealed more about their latest moves Saturday or Sunday, including Amazon.com, Inc. (NASDAQ: AMZN ), Oracle Corporation (NYSE: ORCL ) and Volkswagen AG (ADR) (OTCMKTS: VLKAY ).
Here's what's going on:
Amazon.com, Inc. (AMZN)
Amazon announced an update surrounding its voice assistant Alexa.
The e-commerce retailer has revamped its Alexa Skills marketplace for Echo and Tap owners. Users can now find skills on the marketplace, and either enable or disable them.
They can also do the same for Skills' dedicated URLs. There are more than 3,200 Alexa skills available that you can choose from, including locking or unlocking your front door, as well as getting Facebook notifications.
The move also benefits developers, as they can use search engines to help improve the details of the skills that they create.
Amazon's voice assistant also played quite a bizarre role last week. On Friday, an Echo owner put the speakers inside a Big Mouth Billy Bass and the result was quite alarming - check it out .
AMZN stock has gained 11.7% year-to-date.
Oracle Corporation (ORCL)
Oracle announced last week that it was inching toward its acquisition of NetSuite Inc (NYSE: N ), which will cost it $9.3 billion.
On Saturday, the corporate IT firm reported that the deal will be completed Monday as 53% of N shareholders have agreed to tender their shares by the Friday deadline.
Back in July, Oracle offered to shell out $109 per share in order to beat rivals such as Salesforce.com, Inc. (NYSE: CRM ) to the punch. The latter also has popular cloud-based software products.
T. Rowe Price, which is NetSuite's second-largest shareholder, argued that the offer was too low, refusing to tender its shares. He sent a letter to the company, asking it to raise its bid to $133 a share.
T. Rowe Price owned 14.4 million N shares.
ORCL shares have slipped 1.5% over the last month.
Volkswagen AG (ADR) (VLKAY)
Volkswagen is in a bit of a pickle at the moment.
Late last week, the automaker announced that it would be recalling 2.6 million cars due to the fact that they had software that deactivated pollution controls, making the total of vehicles recalled over 11 million.
On Sunday, it was revealed that Volkswagen is facing trouble with California authorities as some of its Audi models have cheating software. The company has launched an investigation, which includes examining the work of its chairman.
California Air Resources Board officials discovered four months ago that some Audi engines were designed to produce lower CO2 emissions in nabs than normal. Allegations were discussed by Volkswagen, Audi and the agency.
The company reportedly installed illegal software on 500,000 diesel-powered cars.
VLKAY have dropped 7.2% over the last six months.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.
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