Coca-Cola CEO to step down, Restoration Hardware gets hammered, Broadcom soars

Here are some of the stocks the Yahoo Finance team will be watching for you today.

Coca-Cola (KO) CEO Muhtar Kent is stepping down from his position in May of next year. The soda maker’s president and COO James Quincey will succeed him.

Broadcom (AVGO) shares soared in early trading. The chip maker’s merger with Avago is paying off. The company gave an upbeat outlook for the current quarter and doubled its dividend after reporting better-than-expected earnings and revenue for last quarter. Revenue more than doubled from a year ago to $4.l4 billion.

Restoration Hardware (RH) got hammered in early trading. The home furnishings retailer cut its outlook for the holiday quarter and the year. The company blaming “consumer softness” partly related to the election and delays in the delivery of its big catalogs. This despite reporting earnings and revenue in the third quarter that topped analysts’ estimates.

Time Inc. (TIME) shares remain in focus this morning after the stock jumped nearly 8% Thursday following a Wall Street Journal report that the magazine publisher has hired Morgan Stanley (MS) and Bank of America (BAC) to help field takeover or partnership interest. This comes after it reportedly rejected a takeover offer from a group of media investors including Edgar Bronfman, Jr.

Biogen (BIIB) shares were higher in early trading after an early study showed the company’s experimental Alzheimer’s drug appeared to reduce the risk of brain swelling when doses were gradually increased.