Diamonds and Dogs
Suit up and smell nice with today's diamond. The well-known designer clothes brand Ralph Lauren Corporation (RL) has jumped over 14% today with the announcement of their new CEO. Ralph Lauren will no longer be the CEO for the company as of today. After founding the company 48 years ago, it was about time for him to step down and hand the rings over to someone else. He will continue to serve the company as Executive Chairman and Chief Creative Officer. The new CEO, Stefan Larsson, is coming from Gap Inc's Old Navy brand where his title was Global President. He is expected to start as CEO in November. With Ralph Lauren's stock down 40% in the last year, Larsson is expected to help turn around the business. With the holiday season coming around the corner keep an eye out for better things to come from RL.
OOOOOH Barracuda! The album by Heart that contains that song can be bought on vinyl for double the price per share of Barracuda Networks (CUDA). Barracuda's stock is down 33% today at a new 52 week low following disappointing earnings and guidance blaming International sales in Europe, the Middle East, and Asia. The other networking stocks are higher so we'll see in the coming weeks if this is a company specific problem or will other networkers report the same slowing sales issues?