John Donahoe, former EBay, PayPal executive, to become Nike CEO in January

Nike Inc. NKE, -0.64% said late Tuesday Chief Executive Mark Parker will step down in 2020, and its board has appointed board member John J. Donahoe II as president and chief executive officer effective Jan. 13. Donahoe will continue to serve as a board member. Parker will become executive chairman of the board on that date. Donahoe has been a director of the company since June 2014, and has been president and chief executive officer of ServiceNow, Inc. NOW, -5.21% since 2017. Donahoe also serves as a board member of ServiceNow and held executive positions with PayPal Holdings, Inc. PYPL, -4.02% and eBay Inc. EBAY, -0.82%. Nike shares were flat in the extended session after ending the regular trading day down 0.6%.

Boeing to replace executive in charge of 737 Max

BoeingBA, +1.79%  is replacing the head of its commercial-airplanes division as it struggles with a crisis created by two deadly crashes of its newest airliner.

Boeing said Tuesday that Kevin McAllister is out as chief executive of Boeing Commercial Airplanes. He’s being replaced Stanley Deal, who has been leading the company’s services division.

The shake-up in Boeing’s top ranks comes just days after the release of internal communications that showed a senior test pilot experienced serious problems while testing flight-control software for the 737 Max on a simulator.

That software, called MCAS, is at the center of investigations into two crashes that killed 346 people and led to grounding of the Max. Boeing is taking much longer than executives expected to change the software and get the plane flying again.

Whirlpool Corp. Q3 adjusted earnings Beat Estimates

Whirlpool Corp. (WHR) revealed earnings for its third quarter that advanced from the same period last year.

The company’s earnings came in at $358 million, or $5.57 per share. This compares with $210 million, or $3.22 per share, in last year’s third quarter.

Excluding items, Whirlpool Corp. reported adjusted earnings of $364 million or $3.97 per share for the period.

Analysts had expected the company to earn $3.89 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 4.5% to $5.09 billion from $5.33 billion last year.

Whirlpool Corp. earnings at a glance:

-Earnings (Q3): $364 Mln. vs. $332 Mln. last year.
-EPS (Q3): $3.97 vs. $4.55 last year.
-Analysts Estimate: $3.89
-Revenue (Q3): $5.09 Bln vs. $5.33 Bln last year.

-Guidance:
Full year EPS guidance: $14.75 – $15.50

Texas Instruments Inc. Bottom Line Declines In Q3

Texas Instruments Inc. (TXN) revealed a profit for third quarter that fell from last year.

The company’s earnings came in at $1.43 billion, or $1.49 per share. This compares with $1.57 billion, or $1.58 per share, in last year’s third quarter.

Analysts had expected the company to earn $1.42 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 11.5% to $3.77 billion from $4.26 billion last year.

Texas Instruments Inc. earnings at a glance:

-Earnings (Q3): $1.43 Bln. vs. $1.57 Bln. last year.
-EPS (Q3): $1.49 vs. $1.58 last year.
-Analysts Estimate: $1.42
-Revenue (Q3): $3.77 Bln vs. $4.26 Bln last year.

Nike CEO Mark Parker to step down in January

Nike made ‘boneheaded move’ pulling Betsy Ross flag sneakers: Deneen Borelli

On Tuesday, Nike decided against releasing its Betsy Ross flag sneakers after former NFL quarterback Colin Kaepernick complained to the shoemaker that the sneakers would be offensive. Fox News contributor Deneen Borelli reacts to Nike’s decision.

Mark Parker, the longtime Nike CEO who has weathered a series of public relations crises in recent months, will step down from his post in January, the company announced on Tuesday.

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Nike said that John Donahoe, the former eBay CEO and a member of Nike's board of directors, will succeed Parker as CEO effective Jan. 13, 2020. Parker will remain with the company as executive chairman and lead its board of directors.

“This is an exciting time for Nike where we see brand strength and momentum throughout the world and great opportunity for future growth,” Parker said in a statement. “I am delighted John will join our team. His expertise in digital commerce, technology, global strategy and leadership combined with his strong relationship with the brand, make him ideally suited to accelerate our digital transformation and to build on the positive impact of our Consumer Direct Offense.

Nike shares were flat in trading on Tuesday.

Breakingviews – The Exchange: CalPERS’ Ben Meng

NEW YORK (Reuters Breakingviews) – Almost a year into the job, the investment chief of California’s near-$400 bln public pension fund tells Tom Buerkle that size can be a double-edged sword. He explains why returns targets are a challenge and what CalPERS is doing to ensure its new private-equity push succeeds.

Best of Late Night: Mitt Romney’s secret double life

Who would have thought that Mitt Romney, Mr. Born To Be Mild, would have a secret identity? And he would have gotten away with posting on Twitter under his nom de plume if it wasn’t for those meddlesome kids at Slate.com who uncovered the Republican Utah senator’s secret Twitter handle: Pierre Delecto. 

Romney used the pseudonym to tweet a mere 10 times, but that didn’t stop the late-night comedians from having a field day with Mitt’s secret Twitter handle.

Stephen Colbert gets the ball rolling by scolding Romney for his inability to recall the name of a famous late-night comedian. Jimmy Fallon contributes a musical parody of Romney’s strange choice for an assumed name and Conan O’Brien offers up a couple of hilarious suggestions for what Mitt might have been tweeting from his secret account.

"Late Show" host Stephen Colbert (Photo: Scott Kowalchyk/CBS)

After you watch our favorite jokes from last night’s late-night lineup, vote for yours in the poll below. 

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