Walgreens Shifts Health Insurance, Facebook’s Latest Departures, and 3 More Hot Stocks
Walgreen Co. (NYSE:WAG): Walgreens will be moving 120,000 employees to private health insurance coverage, joining the ranks of large corporations making the same move. The drugstore chain will keep its reward-based wellness program and the $600 surcharge on smokers in place.
Facebook (NASDAQ:FB): Justin Shaffer, a project manager working on the company’s upcoming video ad product — expected to be a highly lucrative enterprise — and Ashley Zandy, a public relations manager, are leaving the company, Facebook confirmed. Shaffer did not provide details on his next move, but is leaving the video ad group on positive terms, The Wall Street Journal reports. Zandy is leaving to become the associate director of international corporate affairs for Alibaba.
Chesapeake Energy Corp. (NYSE:CHK): Chesapeake has more layoffs to take care of before it is through, CNBC says. The axing will continue for about another six weeks, according to an internal memo. “Future staffing adjustments will likely be necessary to properly align resources and improve our overall operating and competitive performance,” Chesapeake CEO Doug Lawler said in an email.
Electronic Arts Inc. (NASDAQ:EA): EA has named Andrew Wilson, until now the head of EA’s sports games division, to be its new CEO. The appointment falls six months after John Riccitiello stepped down; as the lead for the sports games unit, Wilson oversaw perhaps the most stable division of the company, helped greatly by the Madden and FIFA franchises.
Chevron Corp. (NYSE:CVX): A tribunal has found that Chevron wins in an international arbitration ruling, thereby releasing it from collective environmental damage claims related to an ongoing class-action lawsuit over alleged oil pollution in Ecuador. The case has a long history and is a result of a dispute over environmental contamination in the country allegedly produced by Texaco, which Chevron bought in 2001.