The Buzz
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EA CEO steps down, stock tanks
Shares of Electronic Arts tumbled Tuesday after the video game publisher said CEO John Riccitiello will step down later this month, raising concerns about the company's digital strategy.
EA (EA) stock was down 8% in late morning trading.
The company said late Monday that former CEO Larry Probst will serve as interim chief after Riccitiello leaves on March 30.
EA also warned that earnings and sales for the current quarter could come in MORE
Ben Rooney - Mar 19, 2013 12:51 PM ET -
E*Trade takeover hopes fade after Citadel bails
E*Trade shares sank Thursday after the online brokerage said one of its biggest investors would sell its stake.
Chicago based hedge fund Citadel plans to sell more than 27 million E*Trade shares in a sale set to occur next week.
That sent shares of E*Trade (ETFC) down 7.5% to $10.93 in afternoon trading.
The news that Citadel was selling its 9% stake in E*Trade signaled to investors that the brokerage will not be MORE
Ben Rooney - Mar 14, 2013 3:35 PM ET -
J.C. Penney's friend list grows by one
J.C. Penney has few friends on Wall Street, but Thursday, the troubled retailer gained one more.
BTIG analyst William Frohnhoefer issued a "buy" rating, making him one of the few analysts to recommend purchasing J.C. Penney's stock.
Frohnhoefer also set a price target of $22 per share. That's more than 40% higher from where J.C. Penney's (JCP) stock is currently trading. Early Thursday, shares slid 1% to $15.53.
The call is a rare MORE
Ben Rooney - Mar 14, 2013 11:44 AM ET -
Apple: Wall Street's whipping boy takes another flogging
It's been a rough week for Apple. And it's only Tuesday.
Apple (AAPL) shares slid 1.4% to $431.82 in afternoon trading.
The selling came after Jefferies analyst Peter Misek issued an unflattering report on Apple, adding to a string of negative research published on the company this week.
Misek cut his estimate for iPhone sales, lowered his price target to $420 a share and said there is a 25% chance Apple will miss MORE
Ben Rooney - Mar 12, 2013 1:25 PM ET -
Gap stock spikes after strong sales report
Shares of Gap Inc. jumped after the apparel company reported healthy sales growth in February.
Gap (GPS) stock was briefly halted after the numbers were inadvertently released ahead of schedule due to a "vendor error," according to a Gap spokesperson. Shares rose 3% after trading resumed.
The report was set to be released after the market closed, but a transcript of a pre-recorded conference call detailing the sales growth was accidentally MORE
Ben Rooney - Mar 7, 2013 2:31 PM ET -
Colgate plans stock split, hikes dividend
Colgate-Palmolive announced plans Thursday to offer a 2-for-1 stock split and hike its quarterly dividend by 10%.
Shares of Colgate (CL), which have rallied 11% this year, edged higher in early trading.
The stock split will take effect after the close of business on April 23. Shareholders will receive one additional share of Colgate common stock for each share they own as of that date.
On a pre-split basis, Colgate will now pay MORE
Ben Rooney - Mar 7, 2013 12:17 PM ET -
The other great rotation: Google vs. Apple
The great rotation in the technology sector continues.
Google (GOOG) shares are trading at record highs above $800, while Apple (AAPL) continues to plumb new lows.
Apple's fall from grace isn't directly related to Google's new-found darling status, but the trend is a significant turnabout.
Once the most valuable company on earth, Apple's stock has fallen 42%, dropping from an all-time trading high of $705 in September to a new 52-week low of $419 on MORE
Mar 5, 2013 12:48 PM ET -
UGG maker predicts sales rebound
Shares of Deckers Outdoors surged Friday after the maker of UGG boots said it expects sales of the fuzzy footwear to rebound this year.
Deckers (DECK) shares were up 14% in afternoon trading.
The California-based company said late Thursday that it expects sales of its Australian-style sheepskin boots to rise 4% this year.
That would be a significant turnaround from last year, when sales of the UGG line fell 1.5% to $1.18 billion.
Deckers has MORE
Ben Rooney - Mar 1, 2013 12:58 PM ET -
Herbalife strengthens ties with Icahn
Shares of Herbalife jumped Thursday after the nutritional supplement company said billionaire investor Carl Icahn will be allowed to nominate two board members.
Herbalife (HLF) shares ended the day up 7%. The stock was briefly halted on the news.
Under the terms of a deal with Icahn's holding company, Herbalife agreed to have Icahn nominate two members to the company's board, which will grow to 11 directors. The new board members will MORE
Ben Rooney - Feb 28, 2013 4:39 PM ET -
Sturm, Ruger profits soar on strong gun sales
Sturm, Ruger & Co., one of the nation's leading gun companies, reported fourth-quarter earnings and sales Wednesday that blew past analysts' expectations.
The Southport, Conn.-based company said it earned $1 per share on sales of $141.8 million in the final three months of 2012. Analysts were looking for earnings of 82 cents per share and sales of $122 million.
The results do not fully reflect the recent spike in gun sales, most MORE
Ben Rooney - Feb 27, 2013 6:07 PM ET
Ben Rooney is a staff writer for CNNMoney. He covers the European debt crisis and other international finance stories, in addition to writing about stocks, bonds, investing and other Wall Street-related news.
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