Stocks Fall; Citigroup, Time Warner Boardroom Shake-ups
Stocks declined on Monday, but well closed well above the worst levels of the day. Global markets traded lower, with the troubled credit markets causing more concern.
Citigroup
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PowerRating), which fell heavily last week, was today’s top story after Robert Rubin was appointed chairman and Sir Win Bischoff interim CEO. Charles Prince resigned after the company announced huge losses on Friday (full story).
Time Warner
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PowerRating) announced that Dick Parsons will depart as CEO at the end of the year (read more).
Dell
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PowerRating) is buying EqualLogic for $1.4 billion (read more).
American Science & Engineering
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PowerRating) reported a rise in Q2 profit (read more).
IAC
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PowerRating) announced plans to split into five separate businesses (read more).
Burger King Holdings
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PowerRating) reported Q1 profit rose 23% on 10% revenue growth (read more).
StemCells
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PowerRating) Q3 loss widened on higher expenses (read more).
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