At lunch on Tuesday the S&P/ASX 200 index has followed the lead of U.S. markets and pushed higher. At the time of writing the index is 0.3% higher to 6,668 points.
Here's what has been happening on the market today:
Afterpay overhauls its leadership team and board.
The Afterpay Touch Group Ltd (ASX: APT) share price has charged 6% higher after announcing a change of CEO and an overhaul of its board. One of the many changes sees co-founder Anthony Eisen replace fellow co-founder and current CEO Nick Molnar in the top job. Mr Molnar will become the company's Global Chief Revenue Officer.
Blackmores names new CEO.
Afterpay wasn't the only company announcing a new CEO today. The Blackmores Limited (ASX: BKL) share price has pushed 1% higher after the health supplements company announced the appointment of Alastair Symington as its new chief executive officer. Mr Symington has a proven track record of achieving significant sales growth throughout the Asia region, particularly in China.
Speedcast disappoints.
The Speedcast International Ltd (ASX: SDA) share price crashed as much as 41% lower this morning after downgrading its guidance. The satellite communications company now expects adjusted calendar year 2019 EBITDA in the region of US$140 million to US$150 million, compared to prior guidance between $160 million to $171 million. Evolving market conditions have been blamed for the downgrade.
Bank shares lower.
All the big four banks are trading lower on Tuesday ahead of the Reserve Bank's meeting later today. The worst performer in the group is the Westpac Banking Corp (ASX: WBC) share price with a decline of approximately 0.85%. The central bank is widely expected to cut the cash rate to a record low of 1%.
Best and worst performers.
The best performer on the ASX 200 index at lunch is the Afterpay Touch share price with its 6% gain. The next best performer is the Mineral Resources Limited (ASX: MIN) share price with a gain of 3.5% despite there being no news out of it. Going the other way is of course the Speedcast share price which is down a massive 38% at lunch.
