Google CEO change: one of five things to watch April 1
Google CEO will be co-founder Larry Page, who takes over from Eric Schmidt, who becomes Google's executive chairman.
Subscribe Today to the Monitor
Eric Schmidt is set to make way for Larry Page, jobs numbers are set to take center stage, and bewilderment is set to remain over Sokol's departure from Berkshire Hathaway. Here's what we're watching…
1. Back to Work: Is this the month that jobs break out to the upside? That's what the ADP number seemed to say on Wednesday. After some nice gains in recent months, the consensus of analysts is looking for a gain of 195,000 in the Labor Department's March jobs report, due out at 8:30 a.m. ET. The news is poised to be the primary market driver as we head into the weekend. Better-than-expected numbers would be a likely catalyst to push the major indices to 2011 highs.
2. What's Next at Berkshire: 24 hours later ... and investors remain in shock over David Sokol's departure from Berkshire Hathaway, amidst a cloud of scrutiny surrounding his Lubrizol stock purchases before Buffett's shop announced a proposed takeover of the chemicals company. The former assumed heir-apparent to Buffett made waves as he presented his side of the story Thursday morning on CNBC, insisting he did nothing wrong. Eyebrows raised when reports surfaced that, while the SEC is considering a probe into potential insider trading by Sokol, the agency doesn't view the matter as urgent. Really, SEC? Haven't you had kind of a bad run? Anyway, the damage may be limited for now, but the big question is whether further ripples will tarnish Berkshire and the seemingly unimpeachable Mr. Buffett.
3. Google's New Page: Friday marks the end of an era, as ubiquitous web giant Google completes its C-suite shakeup. Come Monday, the company's co-founder Larry Page will take the helm as CEO, while incumbent Eric Schmidt steps into an executive chairman role. Already, we're seeing reports of Page trying to cut through what's become an overly bureaucratic and slow model at Google, hoping to recreate some of the secret sauce of the company's early-decade heyday. Investors surely hope he succeeds, as shares in the search giant have floundered in recent months.