Shares of technology companies rose as traders rotated into the largest and fastest growing companies on the S&P 500. Strategists warned the surprisingly small number of mega-cap companies leading.
Bloomberg reported that Panay is being hired by Amazon.com to run the unit responsible for the firm s Alexa and Echo products, replacing David Limp, the unit s current chief who has said he plans to retire this year.
Microsoft s Yusuf Mehdi,
who oversees its consumer marketing efforts, is taking over the
firm s Surface and Windows businesses with the external PC
makers and retail partners, as longtime product.