Google’s stock soars 6% on Alphabet

Today Google revealed reorganization project, introducing a new umbrella company Alphabet which will include a number of entities, among them: Google, Google Ventures, Calico, Nest, Google X, and Fiber. Phew.

As part of the change, Sundar Pichai will become Google’s new CEO, following his appointment to “Product Chief” last year.  During after-hours trading, Google — which will eventually trade under the name “Alphabet”  spiked 6 percent after closing slightly down for the day.