The Ceo Mark Parker is stepping down, replaced by nike board minneapolis and service now ceo john donaho, marker will be the executive chairman we heard from parker exclusively on the closing bell. We have spent a lot of time over many months working on succession planning. So this is this is not something that happens in a matter of weeks. So its really unrelated to oregon project or other issues this is about me on the board really wanting to make the build on the momentum weve got. Add the horsepower, accelerate against our strategy and do it while im here and in a position to lean in and make this as successful as possible parkers departure comes a the dame the crow kevin planning leaving his post in the new year as well. Both stort sporting stocks time to lays up and buy or sit on the sidelines. Can you just say that. I just did. Do you have ears i do. It hurt my ears. Youre sproech so much smarter than that time to lays up and buy. Ha ha. Based on this mr. Donaho on the board of
Its wednesday, october 2nd, fbn a. M. Starts right now. Hands on your waist and go. Get up, get up. Hands on your waist and go. Get up, get up. Lauren cheryl welcome to fbn a. M. And good morning. Im cheryl casone. Lauren good morning. Im lauren simonetti. Cheryl lets take a look at how your money is moving on this morning. This bright and shiny morning. Not so shiny. Dow is down 116, s p down 14, nasdaq down 45. Were going to get breaking Economic News later this morning. Adp jobs report is going to be coming out, private sector jobs, pmi, measure of manufacturing activity, that will be closely watched after yesterdays big miss with manufacturing data. Lauren worst read in 10 years for u. S. Manufacturing yesterday. That is chilling stocks worldwide, in asia down arrows, the kospi is down 2 in you south korea, china still closed for a holiday. Cheryl there is pressure on european stocks. We are waiting for Boris Johnson to officially announce an i ultimatum to the eu. Lauren we have d
Heating up as yet another state takes a hard line on egrets d ecigarettes and the Industry Leader announces a shake up. Worldwide exchange begins right now. Welcome get ready for a big day on wall street peaceful now but sure to change as the houston kicks off that formal impeachment inquiry let us see how the markets have been taking the news we are seeing futures down but not that much. Do you off 41. It is early. Very thin markets what happens on capitol hill does have a direct impact on your money. Check out the reaction on the dow yesterday. We saw pelosi announcing the impeachment around noontime, we saw an immediate drop. Not just that, keep in mind you had trump comments and weaker stocks there come down bond yields have come up we ha we are seeing the benchmark 10year move 1. 64 looking at World Markets in asia, we saw losses across the board. Hong kong down by 1 the german dax and index is down world reacting here. Lets get more to the news the white house is preparing to rel
As we speak. First, we start off with breaking news on alphabet. The Parent Company of google lets get to josh lipton for all the details. Reporter melissa, big breaking news here on alphabet which is just now announcing that as of its next regular board meeting, eric schmidt will be transitioning hell be stepping down from his position as alphabets executive chairman, instead becoming what is described here as a technical adviser to the company importantly, he will continue to serve on the board schmidt saying here in a statement, melissa, in recent years ive been spending a lot of time my time on science and Technology Issues and philanthropy and i plan to expand that work. Of course back in 2001, googles founders brought in schmidt to help scale the business, a company that now does more than 75 billion a year in annual revenue. Schmidt himself worth an estimated 14 billion. Im told this transition has been talked about for about a year it will be interesting to see who now steps in
Vonnie the bloomberg Commodity Index is lower than it was during the hanging meltdown. New york oil is hovering around the 50 per barrel mark which is the lowest its been since april with speculation the Global Oil Glut is not going away. The greek exit from the euro may be back on the table next year. Almost 0. 75 percent of the euro says they will be out of the euro in 2016. The bailout package should be too small. A newspaper and i will his race for the residential nomination. The Des Moines Register calls him names. He commented on immigrants and make comments about john mccain. He has surged into the lead for the republican nomination. A new poll shows he is the favorite of 24 of republicans and those leaning that way. Nike has given Ceo Mark Parker a stock or that is 10 times higher than what usually gets. He has restricted stock with a target of 30 million but he gets it if he stays with nike another five years. The cofounder has endorsed parker to succeed him as chairman next y