Target's (TGT) CEO Gregg Steinhafel resigned in the wake of the massive data breach that affected 70 million customers. It’s the latest fallout yet from the massive data breach that occurred during last year’s holiday shopping season. The nation's third-largest retailer says Steinhafel has agreed to step down as the company's chairman, president and CEO, effective immediately. He will also step down from its board of directors. Chief Financial Officer John Mulligan will replace Steinhafel on an interim basis.
Another stock the Yahoo Finance team will be watching today is Pfizer (PFE). The company beat on earnings per share, but missed revenue estimates. Earnings came in at $0.57 a share, $0.02 better than estimates. Revenue fell to $11.3 billion from $13 billion a year ago and missed analysts’ predictions of $12.1 billion. Pfizer made two failed attempts to acquire British rival AstraZeneca (AZN). The most recent bid was rejected Friday.
Some of Twitter's (TWTR) largest shareholders say they plan to hold onto the stock even after restrictions on stock sales expire today. About 480 million shares will be eligible for sale - about 4 times the amount previously available for trading. Twitter co-founders Evan Williams and Jack Dorsey, as well as venture capital firm Benchmark are among the shareholders who've said they will not sell their shares after the lock-up expires.
With shares of Twitter down more than 42% this year, would you continue owning Twitter shares if you could sell them? Let us know in the comments below.
The Berkshire Hathaway (BRK-A) annual meeting was this weekend. One of the hot topics was Warren Buffett's decision not to "go to war” with Coca-Cola (KO) over his disapproval of the company’s executive compensation plan. He said abstaining from the vote instead of voting against it was the “most effective way” to make his point. Buffett’s Berkshire Hathaway owns 9% stake in Coke.
- Investment & Company Information