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AI transformation difficulties, performance losses, market cap shrinking by nearly half, intel CEO "forced" to retire, stock price surged by nearly 6% at one point.
Pat Gelsinger, the CEO who worked at intel for over 40 years, officially retired on December 1st, Eastern Time. During his nearly four-year tenure, despite intel's ambitious plans, the market position continued to decline. The board of directors lost confidence in his ability to turn the situation around and ultimately gave him the choice of retiring or being dismissed, with Gelsinger opting to end his career at intel. Following the announcement, intel's stock price surged more than 5.7% during trading on Monday.
Amazon Reveals New Data Center Components to Improve Efficiency
Nasdaq, S&P hit new highs, French stock and bond yields fluctuate and rise, Euro once fell more than 1%, Dollar rose.
On the first trading day of December, Cyber Monday shopping amounts will break records, with the Nasdaq and Chinese concept stocks rising about 1%, and the chip index leading with a 2.6% increase, while the Dow fell from its peak. Tesla soared over 4% during the day, intel rose nearly 6% before turning negative, super micro computer surged nearly 29%, and Xpeng autos climbed over 5%, but Li Auto dropped nearly 4%. The French government faces a vote of no confidence, causing French stocks to briefly fall over 1%, and the spread between French and German government bond yields approached the widest in twelve years. US henry hub natural gas fell over 4%, the indian rupee hit a new low, and the offshore yuan dropped over 400 points, falling below 7.29 yuan.
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These Stocks Could Join the Nasdaq 100 Soon. Which Ones Might Exit. -- Barrons.com
Zscaler Drops Despite Solid Q1 Results, Q2 EPS 1 Cent Shy of Estimate
Microchip Technology Shares Are Trading Lower. The Company Issued Expectations for Its December 2024 Revenue Guidance to Be Close to the Low End of Estimates and Announced It Will Shut Down Its Tempe, AZ Wafer Fab Facility.
Zscaler Q1 Earnings: Revenue Beat, EPS Beat, New AI Opportunities, Shares Slide
S&P 500 and Nasdaq Hit Closing and Trading Highs Monday | Wall Street Today
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