NEW YORK -- Beststocksdaily, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on Duke Energy Corp, Zynga Inc, Facebook, Citigroup Inc.
Duke Energy Corp(NYSE:DUK) Chief Executive Jim Rogers will resign from his post by the end of 2013, as part of a settlement with the North Carolina utilities regulator. This brings to an end the investigation into the company's takeover of Progress Energy.
Duke Energy's board had fired Progress Energy CEO Bill Johnson immediately after the takeover, breaking its promise to make him head of the combined company throughout the merger process.
Will DUK Move back To New highs? Find Out Here http://beststocksdaily.com/p2/index.php?company=DUKThe state regulator and Attorney General Roy Cooper had launched investigations while the North Carolina Utilities commission had ordered a probe to find out if Duke Energy executives and board members had deliberately misled regulators while secretly arranging to oust Johnson.
Duke Energy has not named a replacement CEO yet. The company has agreed to have a balanced number of former board members of both companies on the committee that will look for a new CEO.
Meanwhile, online game maker Zynga Inc(NASDAQ:ZNGA) and Facebook Inc(NASDAQ:FB) have disclosed that there is a change in their relationship status and that they are now less ‘attached’ to each other. Zynga shares tanked nearly 13 percent after the bell on this news.
Will ZNGA Rebound After today’s Slump? Find Out Here http://beststocksdaily.com/p2/index.php?company=ZNGA
The ‘Farmville’ maker will no longer need to display Facebook ads or use Facebook payments on its websites, nor is it required to make games exclusively for Facebook.Facebook, on the other hand can develop its own games after the end of March, something which its deal with Zynga did not permit until now.
However, Facebook has said that it does not plan to compete against Zynga and that it intends to continue working with the San Francisco-based company.
Shares of ZNGA slumped 4% to $2.52 after falling 10% earlier in the session.Meanwhile the turmoil in the finance sector continues. According to sources, Citigroup Inc.(NYSE:C)’s trading and investment-banking division plans to cut some more jobs and is likely to slash bonus payments as well.
The 150 jobs to be slashed are mainly in businesses like equities trading and underwriting. Bonuses across the 17,000-people-strong securities and banking division will be slashed by as much as 10%, but top performers might be spared. Also, the bonus cuts are not as severe as last year’s.
Work on these job cuts was already in progress under Chief Executive Michael Corbat’s predecessor Vikram Pandit.
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“We have been making targeted headcount reductions throughout the year in certain businesses and functions across Citi as part of our efforts to control expenses during the current environment,” said Danielle Romero-Apsilos, a spokeswoman for Citigroup.
Citigroup had already announced 1,200 dismissals in the securities and banking division in January, and had decided to slash 350 more jobs in July.
Similar stories are playing out in rival banks like UBS, Credit Suisse Group and the Royal Bank of Scotland.
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