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Mr. Rhoades is the CEO of Daily News. The majority of stockholders do not approve of the decisions made by Mr. Rhoades and have repeatedly requested that he be ousted. Over the last couple of months, it has become apparent that the CEO is going to be replaced by a member of the board, Mr. Bentley, who is highly respected. This morning, the official announcement was made that Mr. Rhoades has stepped down and will be replaced immediately by Mr. Bentley. How is the stock price of the Daily News most apt to react to this announcement?
Highly positive and immediate reaction
A slow but positive reaction
An immediate negative reaction
An immediate positive reaction followed by a slight downward drift
No reaction
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