CEO

Diamond Foods Now Cooks! …their books. CEO and CFO Out, Forced to Restate Earnings

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Diamond Foods is getting crushed after hours, (down over 43%) on the announcement that they, like an alarming number of corporations, have trouble following longstanding GAAP (Generally Accepted Accounting Principles).  According to their press release, a total of $80 million in payments to growers was not accounted for during the correct time periods.  In a sign of good faith, Michael J. Mendes and Steven M. Neil have been placed on administrative leave. From Diamond’s press release: “The Audit Committee has concluded that the Company’s financial statements for the fiscal years 2010 and 2011 will need to be restated. Over the course of … Read more

Options Players Wager On Recovery For Urban Outfitters

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  Outfitters, Inc. – Options activity on the specialty retailer jumped on Wednesday morning as news of the CEO’s resignation saw shares in Urban Outfitters tumble more than 20% to an intraday low of $23.42. Still feeling bullish on Urban?  Take a look at the Feb12 25 calls.  Although I generally prefer to be a writer rather than a buyer of options, URBN’s decrease of almost 19% saw a 75% reduction in the February 25 calls from $3.30 down to $.80      via Options Players Wager On Recovery For Urban Outfitters, Gains For Textron – Forbes.

Bubble Meter: Zillow CEO on housing market

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Zillow CEO Spencer Rascoff on housing market.. Link here. Recap: Zillow’s data suggests that, while down 29% as a nation, home values haven’t bottomed out quite yet: Another 3-5% decrease in values can be expected based on foreclosure back logs, this decline will most likely be spread out over the course of 2012. While shadow inventory is dwindling due to the majority of 2005-2007 loans that ran the risk of default having done so, a slow and relatively jobless recovery will continue to put a damper on home demand further restrict appreciation. After a 3-5% reduction, home values are expected … Read more

‘s Only Wednesday: Urban Outfitters, WebMD, The White House, Swiss National Bank, and Italy

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Out of the markets and into the midst of  both earnings and elections seasons, volatility seems here to stay.  Here’s a quick recap of the most recent turnovers in the headlines the past few days, gathered from.. well, everywhere.   Clothing retailer Urban Outfitters Inc. said its Chief Executive Glen Senk resigned: The company named Chairman and co-founder Richard Hayne as his replacement.  Shares of the company fell 12 percent after the bell. They closed at $29.41 on Tuesday on the Nasdaq.via Urban Outfitters CEO resigns | Reuters. WebMD Chief Executive resigns: INDIANAPOLIS (AP) — WebMD Health Corp. CEO Wayne T. … Read more