Hold your horses, before you can run off into the sunset of the weekend, you gotta catch up on the top stories from Thursday, Sept. 21.
I'll keep it quick, I promise.
That's what TheStreet's Martin Baccardax reported.
And that's the view of S&P Dow Jones, the group that classifies stocks into various sector groups that investors around the world track and monitor in their private and public portfolios. S&P Dow Jones is overhauling its Global Industry Classification Standard, with the changes taking effect Monday, and more than a few big name stocks are set to move from their original labeling in the biggest shake-up since the dot-com bubble.
Facebook Inc. (FB - Get Report) is set to move from the S&P's "Information Technology" sector to a newly-revamped "Communications Services" sector index, a decision that reflect's the social media company's reliance on advertising revenue over technological advancements.
"The last several years have seen an evolution in the way we communicate and access entertainment content and other information," S&P Dow Jones said when it first flagged the changes last year. "This evolution is a result of integration between telecommunications, media, and internet companies."
"(Reclassification) is a step toward acknowledging the convergence of telecommunications, media, and select internet companies and the overlapping services rendered by these companies, within the GICS Structure," the group added.
Google parent Alphabet Inc. (GOOGL - Get Report) , is also set to shift out of the tech basket into the Communications Services index. along with micro-blogging website Twitter Inc. (TWTR - Get Report) , payments system pioneer PayPay Holdings (PYPL - Get Report) and instant messaging app Snap Inc. (SNAP - Get Report).
BMW Surges Forward in Tech
TheStreet contributor, Bret Kenwell, reported on BMW's push into autonomous driving.
When it comes to autonomous motorcycles, we all rave about ... BMW?
The autonomous motorcycle concept isn't something many are familiar with, and to be clear we don't expect to see a self-driving motorcycle anytime soon. But the team BMW (BMWYY) has put together one that is capable of doing just that. The team was quick to point out that BMW doesn't plan on putting the two-wheeled robo-driver up for sale or producing them for customers. It's just another way that BMW is looking to push the envelope as various technologies continue to engulf the transportation industry.
In a few years, everyone from Mercedes, Audi, Porsche, General Motors (GM - Get Report) and others will have EV offerings. If that's what customers want, BMW may lose customers to its main rivals if it doesn't keep pace. That said, BMW said earlier this year that it will take a "modular" approach to EVs and hybrids, allowing its vehicles to essentially look the same, but accommodate electrification alterations. It plans to have 12 EVs and 13 hybrids on the road by 2025.
BMW's autonomous motorcycle is a cool headline, but it's not a realistic vehicle in the intermediate future. However, it shows what BMW's tech team and engineers are doing in the factory.
Cannabis: More Than a Craze?
Cannabis is everywhere these days -- including in the news headlines, reported TheStreet's correspondent, Tracy Byrnes.
TheStreet talked about the difference between CBD and THC, Sativa and Indica, and the different delivery systems available today.
And then of course, how you can invest it all.
Because big companies are investing big money. Constellation Brands (STZ - Get Report) recently invested $4 billion in Canadian cannabis producer Canopy Growth and its CEO Bruce Linton says he optimistic about cannabis-infused beverages and sleep aids.
There are also 3 ETFs traded in the U.S. markets that focus on cannabis-related companies.
Hm, sounds like an interesting watch.
Happy weekend, y'all.