02:11 PM EDT, 08/13/2024 (MT Newswires) -- Starbucks ( SBUX ) said Brian Niccol has been named chair and chief executive officer, effective Sept. 9. Laxman Narasimhan has stepped down as CEO and a board member, the company said.

Chief Financial Officer Rachel Ruggeri will serve as interim chief executive until Niccol, who currently serves as Chipotle Mexican Grill's ( CMG ) chair and CEO, takes over, Starbucks ( SBUX ) said.

Shares of Starbucks ( SBUX ) advanced 21% as intraday trading volume surged to over 122.8 million versus the stock's daily average of about 11.9 million.

CXApp ( CXAI ) said, late Monday, that it secured a multi-million dollar deal with Alphabet's (GOOG, GOOGL) Google Cloud involving artificial intelligence.

Shares of CXApp ( CXAI ) skyrocketed 110% as intraday trading volume catapulted to over 168.2 million from a daily average of about 614,000.

Lifeway Foods ( LWAY ) shareholders Edward and Ludmila Smolyansky said on Tuesday they have filed a consent statement with the US Securities and Exchange Commission to push for a leadership change in the company.

The son and mother tandem said Lifeway's current board of directors, including Chief Executive Julie Smolyansky, needs to be replaced with a new leadership that will work to revitalize the health food company.

Shares of Lifeway surged nearly 48% as intraday trading volume soared to more than 1 million from a daily average of about 178,000.

Price: 93.53, Change: +16.50, Percent Change: +21.42