The big corporate news this week was that Apple's co-founder and current CEO Steve Jobs announced that he has resigned from his CEO duties. This resulted in Apple shares rising by a factor of 7.7%. The rise was not completely clear but analysts suggest it may be due to market acceptance and clarity on the direction of Apple's future. Health concerns have been well known so the market had already priced in the possibility of Jobs stepping down. Although resigning his duties as CEO, Steve Jobs will remain chairman of the board.
