CNBC's Joe Kernen reports on the latest news.
24/7 Wall St. Insights Intel Corp. (NASDAQ: INTC) has hired a premier investment banker to prevent a takeover by activist investors.
Chipmaker Intel Corporation INTC has had a rough couple of years with the stock underperforming the technology sector and major stock market indexes. The stock has also underperformed since it joined the Dow Jones Industrial Average a quarter-century ago.
Intel Corp. has hired advisors, including those with Morgan Stanley, to help defend the company against potential shareholder activism, CNBC reported late Friday.
Intel is working with advisors including Morgan Stanley to help defend itself against activist investors, according to people familiar with the matter. The chipmaker has lost almost 60% of its value this year as it struggles to keep pace with rivals in artificial intelligence.
Recent comments from Fed Chairman Jerome Powell suggest that the central bank will cut interest rates. Lower rates tend to be beneficial for businesses and stocks.
Intel (INTC) shares sank 6.1% on Thursday following reports that the semiconductor giant's progress on constructing two new chip fabrication facilities in Germany may be stalled.
Intel fell today due to concerns that the company will not go forward with the construction of two new chip plants in Germany. AI hasn't been a material growth driver for the company so far, and growing its fabrication business will be very expensive.
Wall Street got cold feet Thursday ahead of a key speech from Federal Reserve Chairman Jerome Powell, with major indexes registering their worst days in weeks.
Intel's director Lip-Bu Tan, a semiconductor industry veteran brought in 2022 to help with the chipmaker's comeback effort, is stepping down from its board, Bloomberg News reported on Thursday, citing people familiar with the situation.
Concerns are mounting that Intel may not go through with the construction of two new chip fabs in Germany. The company had secured significant subsidies for the new plants, but it's also implementing drastic cost-cutting measures.
Nvidia Corporation has overtaken Intel as the most profitable data center chip vendor due to the rise of AI. It is delivering strong growth and does not have an excessive valuation. Intel is struggling financially (due to a manufacturing business operating at a 66% operating loss) but is on a comeback path technologically, presenting a turnaround investment opportunity. Both Nvidia and Intel offer investment opportunities, with Nvidia being a reliable growth stock and Intel presenting a potential turnaround play.