Tiffany Rebounds From Downgrade, CEO Departure

Tiffany & Co. TIF shares are trading lower by $1.45 at $79.02 in Monday's session. The company was hit with a double dose of bad news.

It was announced Sunday its CEO had stepped down; Mizuho also downgraded the stock from Buy to Neutral.

After lower open, it bottomed in the first minute of the session at $77.66 and began to move higher. That low comes in just above the pair of lows from February 1 ($77.69) and February 2 ($77.52).

So far, the ensuing rally has cleared Friday's low ($78.64), but has come up shy of Friday's close ($80.47) as $79.48 stands as the current high for the session.