Ballmer to Resign, MSFT Surges

Here’s a rule of thumb: If you happen to be the CEO of a major corporation and the news of your resignation causes your stock to gain $24 billion in market value, you probably made the right call.

Microsoft ($MSFT) said today that Chief Executive Officer Steve Ballmer has decided to retire within the next 12 months. In the pre-market, MSFT is up $2.87, or 8.86%. The company has 8.33 billion shares outstanding, so today’s surge comes to $23.9 billion. Again, that’s for someone to no longer be there.

Posted by on August 23rd, 2013 at 9:15 am


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