On Wednesday, Shares of Rite Aid Corporation (NYSE:RAD), lost -7.04% to $8.06.
Rite Aid Corporation, declared that Darren Karst has been promoted to the combined role of senior executive vice president and chief financial officer and chief administrative officer, effective right away. He will continue to report to Rite Aid Chairman and CEO John T. Standley.
Karst, who joined Rite Aid in August, 2014 as the company’s executive vice president and chief financial officer, is assuming the CAO responsibilities presently held by Frank Vitrano, who will remain with the company as its chief planned business development officer. In addition to Karst’s current responsibilities for all aspects of the company’s finance, accounting, treasury, tax, investor relations, legal, risk administration, internal assurance and asset protection functions, he will now also be responsible for the company’s information technology, indirect procurement and operating efficiency functions.
The company also declared the appointment of Jim Comitale, presently assistant general counsel, to senior vice president, general counsel and secretary, reporting to Karst. He is succeeding Marc Strassler, who will continue to serve as Rite Aid’s corporate counsel.
Rite Aid Corporation, through its auxiliaries, operates a chain of retail drugstores in the United States. The company sells prescription drugs and a range of other merchandise, counting over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other every day and convenience products. It also offers health coaching, shared decision making tools, and health care analytics, counting health coaching for medical decisions, chronic conditions, and wellness; population analytic solutions; and consulting services.
Shares of Twitter, Inc. (NYSE:TWTR), declined -1.50% to $30.87, during its last trading session, after issuing a sour outlook about its revenue and subscriber base the day before, yet the decline at the close was a lot better than things were looking during the course of a volatile trading day for the micro-blogging network, according to Mercury News.
Analysts offered mixed views about the Twitter outlook and results, and some were hopeful about the return of Twitter co-founder Jack Dorsey as Twitter’s chief executive officer.
Stifel analyst upgraded Twitter to a buy rating with a $34 price target.
“We have been long-time critics of Twitter, the strategy and the stock, until recently,” Scott Devitt, a Stifel analyst, wrote in a research note. “We believe the hiring of Jack Dorsey was the first step toward an improved product and repaired franchise.
Twitter, Inc. operates as a global platform for public self-expression and conversation in real time. It offers various products and services for users, counting Twitter that allows users to create, distribute, and discover content; and Vine and video, a mobile application that enables users to create and distribute short looping videos. The company also provides promoted products and services, such as promoted tweets, promoted accounts, and promoted trends that enable its advertisers to promote their brands, products, and services; and subscription access to its data feed for data partners.