Shoppers walk out of a Bed Bath & Beyond store in New York.
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Bed Bath & Beyond shares rose 22% during extended trading after the company announced that Mark Tritton will take the helm as president and CEO. of the company Nov. 4, then interim CEO Mary A. Winston. Tritton was most recently Executive Vice President and Chief Commercial Officer at Target. His immediate focus will be to "accelerate [c] ompany's ongoing business transformation," the homeowner said in a press release.
Target announced separately that Senior Vice President of Operations Michael Fiddelke will become Executive Vice President and Chief Financial Officer on November 1
PG&E shares plunged more than 25% after a California judge issued a proposal from a group of creditors and senior noteholders led by Elliott Management, which would open a competing restructuring plan. Complainants and creditors must submit their plan by October 17, the judge ordered.
Shares of Sprint jumped nearly 3% after the clock following Mississippi State Attorney Jim Hood's settlement with T-Mobile to drop the state's legal challenge to the merger between the two carriers in exchange for new T-Mobile 5G networks, among other obligations. In six years, New T-Mobile must cover at least 92% of Mississippi's general population and 88% of the nation's population with 5G service, according to the terms of the agreement. So far, more than a dozen other state attorneys general have signed on to the multi-state lawsuit that opposes the merger, Reuters reports.
Micron shares dropped 2% following a report by the South China Morning Post that the US and China made no progress in trade negotiations at the deputy-level this week. The higher-level talks are expected to last only Thursday, the report added, instead of the originally scheduled Thursday-Friday schedule.
Shares of NVIDIA and Broadcom also fell after the news. NVIDIA fell 2% while Broadcom fell 1%.