What's moving markets today: April 15, 2019
Best Buy (BBY) has named a new CEO.
The retailer's board of directors announced Corie Barry will assume the position and join its board in June. She was previously the company's chief financial and strategic transformation officer.
Best Buy's current CEO Hubert Joly will become the executive chairman of the board, a newly created position.
"These changes reflect the Board’s ongoing succession planning process and are designed to provide leadership continuity as the company continues to execute its strategic growth initiatives," Best Buy said in a release.
The stock is up 40% for the year. But it's slightly lower in premarket trading.
American Airlines is extending flight cancellations into mid-August because of the Boeing (BA) 737 Max grounding.
American (AAL), the world's largest airline, decided to extend cancellations from early June through August 19, to help plan ahead for the busy summer travel season.
Here's what the airline's CEO and president said in a message Sunday:
Based upon our ongoing work with the Federal Aviation Administration (FAA) and Boeing, we are highly confident that the MAX will be recertified prior to this time. But by extending our cancellations through the summer, we can plan more reliably for the peak travel season."
American's and Boeing's stocks are slightly lower in premarket trading.
Goldman Sachs is under pressure to show that its trading arm withstood the tranquility in global financial markets that started 2019.
Meanwhile, investors will be nervously watching the consumer banks for signs that they're getting hurt by changes in US interest rates.