Looking to top the CNBC Portfolio Challenge leader board? The following links will help; Week 10 Final Portfolio, Contest Wrap-up and Thoughts • July 18 Bonus Bucks Answers

eResearch Double Whammy: Market Selloff and CFO Resignation

eResearch Technology Inc. (ERES) is stumbling this afternoon, facing a double whammy from a broad market selloff and the resignation news of its Chief Financial Officer. The stock is lower by $1.13, or 7.12%, to $14.73 on moderate volume of 840,407. The cardiac services provider announced this morning that Richard Baron has resigned as Executive Vice President and Chief Financial Officer effective June 17, 2008 and will become Chief Financial Officer of Avid Radiopharmaceuticals, Inc., a privately-held company based in Philadelphia. He will be replaced by Steven Eisenstein, eResearch’s Vice President and Controller for the past seven years. A resignation by any member of senior management is never a good thing and will definitely weigh on eResearch shares in the near term. However, it does not overshadow the fact that the company is coming off its best quarter in recent memory, having raised its revenue and earnings per share outlook and is riding the wave of an increase in the outsourcing of clinical trials with record new bookings. In the long run, this downtick might just turn out to be an opportunity to pick up shares on the cheap.

Subscribe to our RSS feed to ensure that you receive the latest word on the street.

Related Articles

• June 16, 2008 -- eResearch at $17; Gets Analyst Reiteration, Though Still Lacks Coverage
• May 12, 2008 -- eResearch Share Grab in Progress, Hits 52-Week High
• May 7, 2008 -- eResearch Thesis Plays Out, Full Year Outlook Raised
• June 28, 2007 -- eResearch Turnaround Play Gains Momentum

It's that time of year again. CNBC's Million Dollar Portfolio Challenge will be getting underway on Monday, May 12. The tournament is similar in fashion to last year; each contestant receives 1 million CNBC Bucks and can trade stocks with a minimum market cap of $500 million. In addition to 10 pretty cool weekly prizes, there is a grand prize of $500,000 to the lucky contestant who finishes with the highest portfolio return. The only twist to the tournament is that currency trading is now allowed.

We'll be doing a number of things this time around to help with your trading success and so you can have better shot at winning the tournament. Follow the links below to learn more, and good luck!