Yahoo (NASDAQ:YHOO): After months of complaints about Yahoo’s strategy and share price, the internet giant finally canned CEO Carol Bartz. CFO Timothy Morse is now the interim CEO. Yahoo’s stock is up 5.6% in early trading.
Bank of America (NYSE:BAC) is restructuring its management team to concentrate the bank’s operations under three divisions: people, companies and institutional investors. The bank named David Darnell and Tom Montag as co-chief operating officers. Bank of America’s stock is up 2.2% in early trading.
Nvidia (NASDAQ:NVDA) shares are up over 6% this morning after the company announced a solid outlook. The chip maker raised fiscal 2013 sales forecasts to $4.7 billion to $5 billion above Wall Street analyst expectations for $4.45 billion.
Kraft Foods, Inc. (NYSE:KFT) has announced plans to split their business into two firms starting in 2012. Chief Executive Officer Irene Rosenfeld said the company will now operate as a Global Snack business and North American Grocery business.
Urban Outfitters (NASDAQ:URBN) shares are getting crushed over 7% this morning after investors combed through the 10-Q released yesterday after the bell. The SEC document noted comparable store sales fell 3.3% for the six months ending July 31 due to a decrease in transactions, stores saw lower units per transaction and lower average unit sales prices.
Investing Insights: Is China Buying Gold to Challenge the U.S. Dollar?