James Gorman to Step Down, Disney Ups the Ante, Foot Locker Shares Drop 5/19/23

James Gorman to Step Down, Disney Ups the Ante, Foot Locker Shares Drop 5/19/23

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  • Afsnit
    • 1114
  • Udgivet
    • 19. maj 2023
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Afsnit
1114 of 1998
Længde
44M
Sprog
Engelsk
Format
Kategori
Økonomi & Business

Carl Quintanilla, Jim Cramer and David Faber began the hour with breaking news: Morgan Stanley’s James Gorman said he plans to resign as CEO within the year, setting off a succession race at one of Wall Street’s top firms. Gorman also said he will take on the executive chairman role “for a period of time” after stepping down as CEO. The anchors also hit Disney, scrapping its plans for a new $1B Florida campus amid rising tensions with Governor DeSantis. Also in focus: Foot Locker shares dropped more than 20% at the market open following a big earnings miss. Slow sales at Foot Locker prompted the company to lower its guidance just two months after it was introduced.

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