S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Investing

Qwest (Q): Another CEO Leaves, Another Stock Rises

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Richard Notebaert, longtime CEO of Qwest (Q) is leaving. He is 59, and the announcement is odd. He will remain until his successor is found. One would think the board would have handled that and then disclose that Notebaert was leaving.

But, he is on his way, and the stock is way up before the open, climbing about 3% to $10.43, which would put it right at its 52-week high.

Notebaert is not leaving because of the performance of the company’s shares. Like other major telecom company’s Qwest has done very well. It is up about 40% over the last year. It has moved nicely despite the fact that the company does not have a significant cellular business and does not have the capital to build-out a large fiber to the home operation the way that Verizon is.

But, there is never any telling. The board may think the company has gone as far as it can, and the CEO may disagree.

Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Douglas A. McIntyre |

Qwest’s New Dividend Above Bells (Q, T, VZ)

Qwest Communications (NYSE: Q) is seeing shares surge in after-hours trading.  The telecom provider has announced that its board of…
Douglas A. McIntyre |

The Large US Companies That May Disappear In 2008

Firestone. American Motors. Texaco. Pan Am. Worldcom. At one point or another these large American companies were at the top…
Douglas A. McIntyre |

Another 24/7 Wall St. Target CEO Bows Out (SYMC)

Back in late 2007, we listed John Thompson of Symantec Corporation (NASDAQ: SYMC) as one of our 10 CEO’s which…
Douglas A. McIntyre |

Cramer on Telecom

Cramer on tonight’s MAD MONEY on CNBC was discussing the upcoming huge federal government telecom contract worth $20 Billion out…
Douglas A. McIntyre |

Motorola (MOT) Looks For The Exit Door

Motorola’s (NYSE: MOT) shares were halted. Then the company announced what many on Wall St. had expected. Its board will…
Douglas A. McIntyre |

When Will Chesapeake Replace Its CEO?

A number of things have happened to Chesapeake Energy (NYSE: CHK) since the disclosure that its CEO, Aubrey McClendon, took…
Douglas A. McIntyre |

Nine CEOs Who Will Go By The End Of The Year (CROX)(YHOO)(JAVA)(SIRI)(CBS)(VIA)(GM)(LEH)(Q)

Since 2006, 24/7 Wall St. has scrutinized public companies on a regular basis, focusing on those with poor management and…
Starbucks Takes Another Blow
Douglas A. McIntyre |

Starbucks Takes Another Blow

Starbucks CEO Howard Schultz has avoided appearing before a U.S. Senate committee to justify his company's labor practices.
Douglas A. McIntyre |

Are CEOs Sacrificed Too Quickly?

Peter A. Darbee has been CEO of PG&E (NYSE: PCG) since 1999. The company has made strong profits and its…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618