Sinofsky, oversaw the recent launch of Windows 8, is being replaced by Julie Larson-Green, who will handle "all Windows software and hardware engineering," and Tami Reller, who will assume responsibility for "the business of Windows."
The stock was losing 3% at $27.14 in recent trades with volume already running above 84 million vs. the issue's trailing three-month daily average churn of 45.3 million.
Shares of Facebook (FB) were incrementally lower Tuesday ahead of the expiration of a lock-up period for a massive amount of stock held by company insiders.Almost 800 million shares are estimated to become available for trading on the open market on Wednesday. This is the second lock-up expiration that Facebook has dealt with since going public in mid-May. The first lock-up was up in August, releasing some 270 million shares. The stock was down 18 cents, or 0.90%, at $19.89 in afternoon action. Facebook recently reported stronger-than-expected earnings as the company's mobile initiatives showed promise in generating revenue in the third quarter. On an a adjusted basis, the social network earned 12 cents a share on revenue of $1.26 billion for the September-ended period. Analysts polled by Thomson Reuters were looking for 11 cents a share on sales of $1.2 billion.
Interested in more on Facebook? See TheStreet Ratings' report card for this stock. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV