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NEW YORK (
Mellanox(MLNX - Get Report) shares tumbled 2.96% to $107.57 before market open on Monday after the server and storage component specialist announced the retirement of Chief Financial Officer Michael Gray.
As part of a planned transition, Gray, who has served as the company's financial chief since December 2004, will retire from his role on Nov. 5. Mellanox also announced on Monday that it has appointed Jacob Shulman, the firm's vice president of finance, to the CFO role, effective Nov.5.
In a statement, Mellanox said that Gray has no plans to join another company in a similar CFO capacity and intends to spend more time with his family in Oregon.
HP(HPQ - Get Report) shares dipped 0.4% to $17.35 as the tech giant revealed plans to
extend its job cuts.
The No. 1 PC maker expects to cut 29,000 jobs as part of its wide-ranging restructuring plan, 2,000 more than its prior forecast. The Palo Alto, Calif.-based company will make the cuts through fiscal 2014, according to filing with the
Securities and Exchange Commission.
HP also announced four new consumer PCs early on Monday.
Apple(AAPL - Get Report) shares dipped 0.04% to $680.19 as the clock ticks down on the company's press event on Wednesday, which is expected to mark the launch of the new iPhone 5.
The Cupertino, Calif.-based firm was also one of the most active premarket Nasdaq stocks on share volume of 87,975.
TheStreet will be attending and live-blogging Wednesday's event in San Francisco.
--Written by James Rogers in New York.
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