This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

H-P, Apple: Monday's Headlines

BOSTON (TheStreet) -- Here are the top stock market headlines for the morning of Monday, August 9, 2010.

Monday's Early Headlines

  • H-P CEO Hurd Resigns After "Improper" Conduct -- Hewlett-Packard (HPQ) CEO Mark Hurd resigned late Friday following an investigation into an accusation of sexual harassment. H-P said its investigation determined there was no violation of H-P's sexual harassment policy, but did find violations of H-P's standards of business conduct. Mike Holston, H-P's General Counsel, said the company had unearthed irregularities in payments made to the contractor, as well as Hurd's expense reports. "It was a systematic pattern of improper expenses and inaccurate reports," he said.
  • BP Cement Plug Has Hardened -- BP (BP) said Sunday that the cement plug sealing its broken oil well in the Gulf of Mexico had hardened, according to published media reports. The company said pressure tests on the plug show that it's solidly in place, The Associated Press reported. The successful tests mean BP can begin drilling the last 100 feet of a relief well that it hopes will permanently seal the broken well, the AP reported.
  • Apple iPhone Exec Departs; More Verizon iPhone Reports -- Apple's (AAPL) Mark Papermaster, Apple's senior vice president of iPhone and iPod hardware engineering, is leaving the company, according to Apple spokesman Steve Dowling. Papermaster leaves the company in the wake of antenna problems with the newest version of the iPhone. Meanwhile, TechCrunch reports that Apple has submitted orders for millions of units of Qualcomm (QCOM) CDMA chipsets for a Verizon (VZ) iPhone run due in December, citing sources with knowledge of the situation.
  • Nabors Acquires Superior Well for $900 Million -- Nabors Industries (NBR) said Monday it has agreed to purchase Superior Well Services (SWSI) in a $900 million transaction that values shares of Superior Well at $22.12 per share, a premium of 21.3% to Friday's closing price. "Although we expect this acquisition by itself to be significantly accretive to 2011 results, our major motivator was the opportunity to leverage this well respected franchise into a global force utilizing our extensive international footprint and resources," Nabors' Chairman and CEO Gene Isenberg said in a statement.
  • McDonald's Global Comparable Sales Up 7% in July -- McDonald's (MCD) said its global comparable sales rose 7% in July, coming in ahead of analysts' estimates. U.S. comparable sales were up 5.7%, Europe sales climbed up 5.3% and sale surged 10.1% in Asia, Middle East and Africa. "Our customers are at the heart of everything we do, and our strong July sales performance reflects our commitment to them," said McDonald's CEO Jim Skinner.
  • Sara Lee CEO Resigns for Health Reasons -- Sara Lee (SLE) Chairman and CEO Brenda Barnes will step down from her positions to focus on improving her health, the company said Monday. Barnes had been on medical leave since May 14 after suffering a stroke. Barnes has also resigned from Sara Lee's board of directors and will not run for re-election at the company's annual shareholders meeting in October.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,943.81 +28.74 0.17%
S&P 500 1,967.57 +2.89 0.15%
NASDAQ 4,415.49 +19.2860 0.44%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs