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The Dow Jones Industrial Average fell 414.23 points, or 1.81 percent, to 22,445.37, the S&P 500 lost 50.84 points, or 2.06 percent, to 2,416.58 and the Nasdaq Composite dropped 195.41 points, or 2.99 percent, to 6,333.00 white gold cufflinks uk online. For the week, the S&P 500 fell 7.05 percent, the Dow dropped 6.87 percent, and the Nasdaq declined 8.36 percent. For the second day in a row, more than 2,600 New York Stock Exchange and Nasdaq-listed stocks hit 52-week lows. The day before, nearly 3,000 stocks hit their low for the year, the most in any one day since October 2008..
Adding to volatility was “quadruple-witching,” when options on stocks and indexes as well as futures on indexes and stocks expire. Volume on U.S. exchanges was 15.18 billion shares, its highest level in nearly two-and-a-half years, compared to the 8.81 billion average over the last 20 trading days. Among Wall Street’s advancers were shares of Nike Inc, which jumped 7.2 percent after the company’s quarterly results beat Wall Street estimates. Declining issues outnumbered advancing ones on the NYSE by a 3.57-to-1 ratio; on Nasdaq, a 3.77-to-1 ratio favored decliners white gold cufflinks uk online.
CHICAGO (Reuters) – Campbell Soup Co (CPB.N) said on Friday that incoming Chief Executive Mark Clouse, a food industry veteran, could be paid as much as $7.4 million in compensation for fiscal 2019 white gold cufflinks uk online. Clouse, the former chief of frozen food maker Pinnacle Foods, was named Campbell’s new CEO on Thursday after a seven-month search to replace former CEO Denise Morrison, who left abruptly in May. Campbell said in a filing that Clouse’s pay-packet included a base salary of $1 million and a potential bonus of $1.4 million. On Jan. 22, the day he starts working at Campbell, Clouse will also get a long-term incentive award of $5 million..
At Pinnacle Foods – where Clouse’s tenure was marked by a 54 percent rise in stock value – he earned $5.22 million in 2017 and $14.1 million in 2016. Clouse, 50, began working in the food industry over two decades ago white gold cufflinks uk online. His appointment comes just weeks after Campbell and activist hedge fund Third Point LLC settled a bitter proxy contest. Campbell has reported years of weak earnings, trailing the rest of the food industry. “Campbell needs someone who can shake up the way the company is run, clean house and reinvigorate the brands,” Edward Jones analyst Brittany Weissman said on Thursday..
Under Clouse’s watch earlier this year, Pinnacle was sold to ConAgra Brands Inc (CAG.N) for $8.1 billion. On Thursday, Conagra CEO Sean Connolly said since buying Pinnacle, he realized the business would be “significantly” less profitable than initially expected white gold cufflinks uk online. Connolly said Pinnacle’s problems were to do with innovation at its top brands, including Birds Eye and Duncan Hines. That “muddies Clouse’s track record a little, but he’s had a good track record for years and he’s still an ideal candidate for Campbell,” Weissman said..