Our purchase of Bollore (XPAR:BOL) was never about Bollore. Now that we have got you confused, let us describe Bollore. It is a 200-year-old French conglomerate that is run by Vincent Bollore. Over the last 30 years, he has created tremendous value for Bollore shareholders (the stock is up more than 20 times since the mid-1990s).

We think of Bollore as the John Malone or Carl Icahn (Trades, Portfolio) of Europe – his strength is not in running businesses, but in identifying undervalued assets, taking control of them and unlocking value. In other words, he

Spotify Technology S.A. (SPOT) is a global digital music service offering on-demand audio streaming via paid premium subscriptions and a free ad-supported model. Its shares detracted from performance this quarter due to a mixed gross margin outlook, but we see potential for near-term margin upside given the company’s two-sided marketplace strategy. Over the long term, we view Spotify as a winner in the music streaming space. The company has the potential to gain over 100 million subscribers in the next five years due to its scalable and sticky core product and its growing library of podcasts.

From [url=https://www.gurufocus.com/StockBuy.php?GuruName=Ron+Baron]Ron

The Dow Jones Industrial Average closed at 27,090.72 on Monday with a gain of 132.66 points or 0.49%. The S&P 500 closed at 3,039.42 for a gain of 16.87 points or 0.56%. The Nasdaq Composite closed at 8,325.99 for a gain of 82.87 points or 1.01%. The VIX Volatility Index was higher at 13.12 for a gain of 0.47 points or 3.72%.

Monday’s market movers

U.S. indexes continued to rally with a fourth day of positive gains. The S&P 500 closed at a new record high of 3,039.42.

In the U.K., the European Union agreed to a Brexit extension deadline

Shares of music streaming service Spotify Technology SA (SPOT) popped 12% on Monday morning after reporting better-than-expected third-quarter results.

The Swedish company posted net income of 241 million euros ($267.34 million), or 36 cents per share, which was up from 43 million euros, or 23 cents per share, a year ago. Refinitiv analysts were expecting a loss of 29 cents per share.

Revenue grew 28% from the prior-year quarter to 1.73 billion euros, topping estimates of 1.72 billion euros.

The company partially attributed the strong performance to podcasts, as an increase in the

Shares of entertainment giant Sony Corp. (SNE) gained slightly Tuesday after the company declined activist investor Dan Loeb’s proposal to break into multiple entities.

Sony’s board unanimously agreed to keep its semiconductor business, rebuffing Loeb’s call last June to spin it off. Not separating the unit, which generates 18% of revenue and commands more than half of image sensor market share, would drive better “corporate value over the long term” than Loeb’s plan, the company said in a letter to shareholders Tuesday.

“This is based on the fact that the I&SS business is a crucial growth driver for Sony that

Chase Coleman (Trades, Portfolio), founder of Tiger Global Management, manages a $19 billion equity portfolio that is mostly concentrated on the technology and consumer cyclical sectors.

During the second quarter, he sold shares of the following stocks.

The guru trimmed his Spotify Technology SA (SPOT) stake by 49.27%. The portfolio was impacted by -3.10%.

The company, which provides music streaming services, has a market cap of $23.80 billion and an enterprise value of $22.69 billion.

GuruFocus gives the company a profitability and

Shares of Sony Corp. (SNE) popped 3.34% Friday after Third Point investor Daniel Loeb (Trades, Portfolio) called it "one of the most undervalued large cap businesses" in the world and unveiled his plan to break it up.

Loeb, who has invested $1.5 billion of his firm’s $17.5 billion in assets in the Japan-based electronics and entertainment company, attributed Sony’s “valuation discount” to “portfolio complexity.” To correct the problem, Loeb proposed that it spin off its semiconductors division, one of its four segments, as a publicly traded company named Sony Technologies. The division, which has a 70% market

Slack Inc. (WORK) will be making its public market debut on June 20. Slack’s core business is its cloud-based messaging and team management platform. User growth has been very healthy, as has revenue growth. Its user-friendly interface has won it many big converts, especially in tech-savvy Silicon Valley.

While some high-flying tech unicorns have faltered out of the gate, Slack looks poised to receive a warm response from the market.

Cloud companies soaring

Now seems to be a propitious time for Slack to go public, in light of the market’s current love for anything cloud related. Since

Chase Coleman (Trades, Portfolio), leader of Tiger Global Management and former “tiger cub” of Tiger Management’s Julian Robertson (Trades, Portfolio), disclosed on Tuesday he expanded his stake in Carvana Co. (CVNA) by 30.77%.

Known for being an early investor in both Facebook Inc. (FB) and Spotify Technology SA (SPOT), the guru’s New York-based hedge fund focuses on small-cap stocks and technology startups.

According to GuruFocus Real-Time Picks, a Premium feature, after establishing an initial stake during the first quarter, Coleman invested in an additional 630,769 shares of the Tempe, Arizona-based company on June

Legendary investor Julian Robertson (Trades, Portfolio) is not just known for his leadership of Tiger Management, but also for taking a group of protégés under his wing. These student investors, many of whom later opened their own practices, are referred to as “tiger cubs.”

As they were influenced the same teacher, it is no surprise that some of these guru fund managers have similar investing styles and even invest in some of the same stocks. An example of this is Chase Coleman (Trades, Portfolio), who now heads up Tiger Global Management, and Robert

Robert Karr (Trades, Portfolio), founder of New York-based Joho Capital, disclosed three new positions in his first-quarter portfolio, which was released earlier this month.

A former protégé of Tiger Management’s Julian Robertson (Trades, Portfolio), the guru, who now manages a family office, focuses on a concentrated number of investments and specializes in online media stocks. He also has a very low portfolio turnover rate of 17% as of the most recent quarter.

Based on these criteria, Karr’s new buys for the quarter were Microsoft Corp. (MSFT), Spotify Technology SA (SPOT) and TJX Companies Inc.

Julian Robertson (Trades, Portfolio), founder and CEO of Tiger Management, disclosed this week he launched one new position and increased his bet in four others, including Facebook Inc. (FB), in his first-quarter portfolio report.

Considered the "father of hedge funds," Robertson founded Tiger Management in 1980 with $8 million and turned it into $22 billion in the late 1990s. Despite this, Robertson closed his hedge fund to outside investors in 2000 and has since managed his own money.

Robertson has also mentored several gurus throughout the past

Chase Coleman (Trades, Portfolio), founder of Tiger Global Management and one of Julian Robertson (Trades, Portfolio)’s former “tiger cubs,” disclosed he expanded his stake in Sea Ltd. (SE) by 10.57% on April 16.

The guru’s New York-based hedge fund is known for focusing on small-cap stocks and technology startups, having become an early investor in Facebook Inc. (FB) and Spotify Technology SA (SPOT).

According to GuruFocus Real-Time Picks, a Premium feature, Coleman invested in 1.3 million shares of Sea for an average price of $23.65 per share. He now holds 13.6 million shares,

Chase Coleman (Trades, Portfolio)’s Tiger Global Management on Friday disclosed that it bid goodbye to a third of its stake in SurveyMonkey (SVMK), a company it backed from its early stages.

From Wednesday to Friday of last week, Tiger sold 10,063,993 shares of SVMK Inc., SurveyMonkey’s parent, reducing its position to 20,408,092 shares from 30,472,0845 shares. The firm made the trades at prices ranging from $15.15 to $15.54 per share. SVMK Inc. shares traded Monday around $15.45, down 0.46% for the day and up 29% year to date.

On Thursday, Tiger also announced

The acquisition of Pandora (P) could catalyze Sirius XM (SIRI)’s stock price performance. The two companies are expected to deliver synergies as well as cross-selling opportunities.

The acquisition of Automatic Labs last year may offer growth potential within the growing smart services segment of the automotive sector. A cross-promotion deal with Amazon could increase the company’s exposure to the smart speaker market, which is forecast to treble in size in the next four years.

Although competition from streaming services is high, Sirius XM has a loyal customer base and is investing in content. Having gained 10% in the last year

George Soros (Trades, Portfolio), the founder of Soros Fund Management, sold shares of the following stocks during the third quarter.

The guru closed the holding of NXP Semiconductors NV (NXPI). The trade had an impact of -3.71% on the portfolio.

The semiconductor manufacturer has a market cap of $24.06 billion and an enterprise value of $29.71 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 20.85% and return on assets of 11.61% are outperforming 51% of companies in the Global

The pursuit of a two-sided business model could transform Spotify Technology SA’s (SPOT) financial performance. The company has the potential to generate revenue growth from its suppliers, as well as from consumers. Deals with artists, as opposed to record labels, could increase sales and allow the company to provide complementary services such as talent management.

Partnerships have the potential to further increase the size of the company’s user base. Investment in its platform, user experience and expansion into new territories could also be ahead.

Having fallen 19% over the last six months, the stock has underperformed the S&P 500. It

Music streaming company Spotify Technology SA (SPOT) reported third-quarter results before the opening bell on Thursday, recording a modest increase in premium subscribers.

The Swedish company, which operates the world’s most popular paid music streaming service, saw its number of paid subscribers grow 5% from the prior quarter to 87 million, in line with expectations. Total monthly active users, including free, ad-supported listeners, rose 28% year-over-year to 191 million as a result of growth in emerging regions like Latin America and the rest of the world.

Spotify posted earnings of 23 euro cents (27 cents) per share, well above

Apple Inc.’s (AAPL) strategy provides a solid foundation for future growth. The company could benefit from further vertical integration, with it already having provided the business with a dominant position in the lucrative music streaming segment. Changes to its HomePod product in what is a fast-growing smart speaker market alongside changes to its iPad may also improve its financial performance.

Although there are concerns about the sustainability of its iPhone pricing strategy, the recently-launched XS and XS Max products are performing well in terms of sales. After rising 47% in the last year, versus a gain of 16% for the

SiriusXM Holdings Inc. (SIRI), the world’s largest satellite radio company, announced Monday it is acquiring Pandora Media Inc. (P) for $3.5 billion.

Since the announcement, analysts have been running the numbers to determine the company's premium valuation. Pandora has struggled to match the performance of its early days as a public company, which saw its stock price nearly quadruple between November 2012 and March 2014.

Pandora’s stock has rallied 125% since bottoming in January, but, at just under $10 per share, it remains way off its 2014 highs of about $38 per share. At the current price,