Lands' End CEO departs, Deutsche Bank falls, Twitter downgraded
Here are some of the stocks the Yahoo Finance team will be watching for you today:
Lands’ End (LE) shares fell in early trading. The struggling apparel maker has lost another Chief Executive as the company’s CEO Federica Marchionni is stepping down, effective immediately. She is the second CEO to leave the retailer since it was spun off from Sears two years ago. The company’s chief operating and financial officers will take over as co-interim CEOS.
Deutsche Bank’s (DB) US listed shares fell sharply this morning after German magazine Focus reported over the weekend that Chancellor Angela Merkel refused to provide Deutsche Bank state aid in its legal battle with the US Justice Department over toxic mortgage securities it sold before the financial crisis. However, the German government dismissed the report, and Deutsche Bank said it was not looking for government help.
Twitter (TWTR) shares were lower after soaring more than 21% on Friday following reports that the social media firm was in talks with several potential buyers including Salesforce.com (CRM) and Alphabet’s Google (GOOGL). Meanwhile, Oppenheimer downgraded the stock this morning to underperform from perform. The firm said a likely buyer wouldn’t pay much above its $17 a share for Twitter.
Chemtura (CHMT) shares soared in early trading. The US speciality chemical company is being bought by German rival Lanxess for $2.7 billion in cash and debt. At $33.50 a share, the price tag is a 19% premium from Chemtura’s closing price on Friday.
