Shares of Twitter Inc. were down 3.5% Thursday, ahead of an expected announcement from the company naming Jack Dorsey as chief executive. Recode first reported Wednesday that Twitter could choose Dorsey, who is the interim CEO of Twitter and CEO of Square, as its CEO as soon as today. Nomura analysts said they are positive on the choice because naming Dorsey should mean that other executives, such as Chief Financial Officer Anthony Noto and Chief Revenue Officer Adam Bain stay. But the analysts expressed concern over Dorsey acting as the CEO of two companies. “The notion that Jack Dorsey would serve as CEO of two public companies gives us pause, particularly given that concerns persist regarding Twitter’s user growth trajectory and ability to stem deceleration in monetization trends,” the analysts wrote.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News