Stock futures are edging higher in early trading after tech stocks lifted the Nasdaq to another record high; TSMC (TSM) reported strong July sales on demand for AI chips; Firefly Aerospace (FLY) shares are falling after the space company's stock soared in its trading debut yesterday; Intel (INTC) CEO Lip-Bu Tan said he had the board's support after President Donald Trump called for his resignation; Expedia (EXPE) shares are jumping after it reported higher bookings in the second quarter. Here's what investors need to know today.
Trump now wants to oust the CEO of the Chips Act beneficiary.
Lip-Bu Tan, known as “Mr. Chip,” is under fire after a company he led until 2023 pleaded guilty to selling technology to a Chinese state-controlled research institution.
He called out Lip-Bu Tan on his Truth Social platform. Transcript: President Donald Trump has called for the “immediate resignation” of Intel CEO Lip-Bu Tan.
Intel Corp (NASDAQ:INTC, ETR:INL) shares fell 3.4% to $19.72 after Donald Trump has called for the resignation of new chief executive, Lip-Bu Tan. In a social media post, the US President alleged that Tan "is highly conflicted and must resign, immediately.
Intel (NASDAQ: INTC) shares are down 3.36% on Thursday following President Donald Trump's public call for the immediate resignation of CEO Lip-Bu Tan over alleged conflicts of interest related to China.
Key Points in This Article: President Trump called for Intel‘s (INTC) CEO resignation, citing a “conflict of interest” over his relationship to companies with ties to China's military.
Shares of Intel (INTC) fell in premarket trading Thursday after President Donald Trump called for new CEO Lip-Bu Tan's immediate resignation.
Intel's stock is falling as Trump's comments open the door for potentially more leadership drama at the chip giant.
Request adds to troubled chipmaker's challenges, follows scrutiny from Sen. Tom Cotton
Intel shares were under pressure Thursday after President Donald Trump called for the chipmaker's CEO to resign immediately.
I maintain my Hold rating on Intel due to heavy restructuring charges, impairments, and ongoing Foundry losses weighing considerably on margins. I see Intel Foundry's $3.2 billion operating loss as the company's biggest drag; in my view, divesting the foundry unit is the only clear path to reversing sentiment. Management is raising cash through asset sales and the networking spin-off, but I'm concerned these proceeds will mostly offset ongoing foundry cash burn rather than fund real growth.