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Why Intel Stock Is Soaring Today
Shares of Intel (NASDAQ: INTC) are surging on Monday. The company's stock had gained 6.8% at noon ET and was up as much as 8.7% earlier in the day. The strong performance comes as the S&P 500 index remained flat and the Nasdaq Composite index fell 0.4%.The chipmaker's stock is rallying after reports emerged detailing incoming CEO Lip-Bu Tan's plans for a significant strategic overhaul.Reuters reported today that Intel's incoming CEO, Lip-Bu Tan, is considering sweeping changes that could overhaul the struggling company. Tan plans to shift the company's approach to artificial intelligence (AI) and make significant staff cuts aimed at addressing a "slow-moving and bloated middle management layer." Tan told employees last week that the company will need to make "tough decisions," signaling he will take a more aggressive approach than his predecessor.Continue reading
Shares of Intel (NASDAQ: INTC) are surging on Monday. The company's stock had gained 6.8% at noon ET and was up as much as 8.7% earlier in the day. The strong performance comes as the S&P 500 index remained flat and the Nasdaq Composite index fell 0.4%.
The chipmaker's stock is rallying after reports emerged detailing incoming CEO Lip-Bu Tan's plans for a significant strategic overhaul.
Reuters reported today that Intel's incoming CEO, Lip-Bu Tan, is considering sweeping changes that could overhaul the struggling company. Tan plans to shift the company's approach to artificial intelligence (AI) and make significant staff cuts aimed at addressing a "slow-moving and bloated middle management layer." Tan told employees last week that the company will need to make "tough decisions," signaling he will take a more aggressive approach than his predecessor.
