Microsoft Expedites CEO Search, Best Buy Moves On No News, and 3 More Hot Stocks
Microsoft Corp. (NASDAQ:MSFT): Microsoft is on the fast track to find a replacement CEO for Steve Ballmer, as the company hopes to appoint a new leader by the end of the year and is slimming down the list of potential candidates amid preliminary interviews. Ford CEO Alan Mulally, former Nokia CEO Stephen Elop, and former top Microsoft executive Paul Maritz, as well as Tony Bates, the company’s evangelism chief, have all been approached by Microsoft’s directors.
Best Buy Co. (NYSE:BBY): Shares of Best Buy are on a tear, up some 7 percent, despite no real news from the company; instead, a rumored positive note from ITG Research apparently holds good tidings for the electronics retailer.
Siemens AG (NYSE:SI): Siemens has won a 1.5 billion euro order to supply Riyadh in Saudi Arabia with driverless subway trains, electrification systems, and signaling equipment for two lines. The Riyadh order is the largest of its kind to come from the region; since 1990, Riyadh’s population has doubled to around 5 million.
Teva Pharmaceutical Industries (NYSE:TEVA): Teva will be axing 5,000 jobs, amounting to roughly 10 percent of its total workforce, as a part of its plan to accelerate its cost-reduction program, which was introduced in December. The goal for Teva is to shave $2 billion in annual cost savings by the end of 2017, with $1 billion achieved by the end of next year.
Walgreen Co. (NYSE:WAG): Walgreen will be will launching a prepaid debit card this year that will enable its holders to cash checks and have paychecks direct deposited to a linked account. Ultimately, Walgreen hopes that shoppers will begin to use its locations as a bank, as well, out of convenience.