Category: Companies / October 15, 2013 10:39 AM EDT
Apple Inc. (NASDAQ: AAPL) announced on Tuesday that Burberry Chief Executive Officer Angela Ahrendts will leave the retailer and report to CEO Tim Cook as senior vice-president of retail and online stores next year. Burberry has named Christopher Bailey CEO to replace Ahrendts when she leaves. Shares in luxury fashion house Burberry Group PLC (BRBY) fell as much as 6.4 percent on Tuesday, while shares of Apple rose 0.62 percent to $499.13 in morning trading.
BlackBerry Limited (NASDAQ: BBRY) in an open letter has announced an ad campaign to convince its customers, carriers, consumers and partners that the struggling smartphone maker will remain in business.
Shares of BlackBerry edged down 0.25 percent to $8.12.
Microsoft Corporation (NASDAQ: MSFT) shares were upgraded by Jefferies to "buy" from "hold." Jefferies said the software giant’s new operating structure provides greater transparency. "We think the stage is set for a series of value creating events to unfold over the next 18 months," said analyst Ross MacMIllan, who upgraded Microsoft to Buy and lift his price target to $42 from $33.
Shares of Microsoft rose 1.54 percent to $34.98.
The Dow Jones industrial average fell 26.84 points, or 0.18 percent, at 15,274.42. The S&P 500 fell 1.24 points, or 0.07 percent, at 1,708.69. The Nasdaq Composite rose 3.29 points, or 0.09 percent, at 3,818.57.
Video Credit: Reuters