First Hour Biggest Stock Movers (BCS, ORCL, HBC)

Shares of Barclays PLC (ADR) (NYSE:BCS) is one of the biggest bluechip stock losers on Tuesday after the company said that it has decided to make Robert E. Diamond Jr. its new chief executive early next year, promoting an American to the top of the British banking giant.

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John Varley is scheduled to step down as chief executive on March 31 2012. He will also resign from the Barclays board and group executive committee.

Diamond, who joined Barclays in 1996, will serve as a president and deputy group chief executive starting from Oct. 1. He currently leads the Corporate & Investment Banking and Barclays Wealth businesses of the group.

"There is no change in strategy here," Diamond said on a conference call with reporters on Tuesday, responding to the question of whether he plans to take the bank in another direction given his strong investment-banking experience.

Shares of Barclays slid over 5% to $19.25 in the opening session.

Oracle Corporation (NASDAQ:ORCL) is the biggest stock gainer and surged 6.85% to $24.48 after today the company confirmed that Mark Hurd would serve as president of the company.

Hurd, a close friend of Oracle CEO Larry Ellison will replace Charles Phillips, who has resigned, Oracle said in a statement on Monday. Phillips was co-president alongside Safra Catz, who remains in her role.

Just a month ago, Hurd resigned from HP, following a probe into sexual harassment allegations. HP said at the time that he filed inaccurate expense reports related to Jodie Fisher, a marketing contractor who worked for Hurd's office from 2007 through 2009.

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"I believe Oracle's strategy of combining software with hardware will enable Oracle to beat IBM in both enterprise servers and storage," Hurd said in Monday's statement.

HSBC Holdings plc (ADR) (NYSE:HBC) rose 0.34% to $50.85 after BBC News reported that Stephen Green, the chairman of British bank HSBC is planning to resign from the company to join as the United Kingdom's new Trade Minister.

The appointment will be announced later today, BBC News said without naming its sources.

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