What news sent Time Warner stock zooming this afternoon? A report from the Times of London that CEO Dick Parsons is about to step aside.
True? We haven’t the faintest idea. But always interesting to get a real-time snap shot of what investors consider to be your value to your company.
In Dick’s case, unfortunately, the news isn’t good: -$0.40 a share. With 3.7 billion shares outstanding, this translates to a Dick Parsons-value-to-Time Warner of negative $1.5 billion.