Apple's shares traded in Frankfurt (AAPL.F) fell 7.5 percent by 1438 GMT, while futures for the S&P 500 and tech-heavy Nasdaq dropped 0.3 and 0.9 percent, respectively, after the company's CEO Steve Jobs said the company's board had granted him leave to concentrate on his health. His request for medical leave is almost certainly connected to the islet cell neuroendocrine cancer of the pancreas (a rare, survivable form) that he was treated for in 2004, and the consequent liver transplant he received in April 2009. The Wall Street is closed for trading on Monday to commemorate Martin Luther King, Jr. Day.
During Jobs' leave of absence, Chief Operating Officer Tim Cook will be responsible for day to day operations. Jobs will continue as CEO and will be involved in major strategic decisions for the company. When he made a similar announcement in 2009, the stock was briefly suspended after falling more than 10% in the hours after he announced his leave of absence.
Will Apple stock price fall more than 10% and get suspended on Wall Street once trading resumes on Tuesday?
Steve Jobs Taking Leave of Absence From Apple [via]
Subscribe to:
Post Comments (Atom)
-
For people who like to stream US/UK stuff but don't want to pay VPN, try Hola . They have support for Windows, Android, Chrome, Firefox ...
-
Installed FortiClient recently but the challenge in disabling the application/service from running automatically on every start-up annoyed m...
-
Forbes named Singapore Prime Minister wife and CEO of Temasek Holdings, Ho Ching, as the 5th most powerful woman in the world . Ho Ching is ... -
If you have never heard of the case of Cambridge Analytica with Facebook, then you must be living in some cave. Ever since the scandal was... -
I have been hearing people telling me that they are suspecting their phones are listening to them because they have been seeing creepy adver...
No comments:
Post a Comment
Do provide your constructive comment. I appreciate that.