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☆ Intel has hired Morgan Stanley, other advisers for activist defense
▼ + stars: | 2024-08-23 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Intel is working with advisors including Morgan Stanley to help defend itself against activist investors, according to people familiar with the matter, as CEO Pat Gelsinger attempts to turn around the struggling chipmaker. While Intel has faced activist pressure in the past, no new campaign has been formally launched and it isn't clear if an activist investor has been in contact with the company's board. Morgan Stanley has previously worked with Intel, including in the company's 2022 spinoff of Mobileye . The sources with knowledge of Morgan Stanley's latest involvement asked not to be named due to confidentiality. Representatives for Intel and Morgan Stanley declined to comment.

Persons: Morgan Stanley, Pat Gelsinger, Morgan Stanley's, it's, Dan Loeb's, Frank Yeary, Camberview, Tan, — CNBC's Alex Sherman, Kif Leswing Organizations: Intel, Nvidia, Devices, Broadcom, Qualcomm, Texas, Wall

☆ New York Liberty down Dallas Wings 79-71 to win eighth straight and extend league-best record
▼ + stars: | 2024-08-23 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +3 min

CNN —The New York Liberty solidified their spot at the top of the WNBA standings with a 79-71 home win over the Dallas Wings at the Barclays Center on Thursday. The result made it eight victories in a row for the Liberty, who currently sit atop the Eastern Conference with a league-best 25-4 record, the team’s best start through 29 games in franchise history. The Liberty only shot 35.1% from the field as a team but still had four players score in double figures. It was a morale boosting win for New York, which became the first team to clinch a postseason berth on Saturday. The defeat moves the Wings to 6-22, tied for the worst record in the WNBA with the Los Angeles Sparks and Washington Mystics.

Persons: Breanna Stewart, Sabrina Ionescu, Betnijah Laney, Hamilton, ”, Sandy Brondello, Stewart, Catalina Fragoso, Kayla Thornton, Dallas, “, ’ “ They’re, Leonie Fiebich, Thornton, Jonquel Jones, Ogunbowale –, –, Natasha Howard Organizations: CNN, The New, The New York Liberty, WNBA, Dallas Wings, Barclays Center, Liberty, Eastern Conference, Wings, Getty Images, New, Dallas, Los Angeles Sparks, Washington Mystics Locations: The New York, New York, York

☆ Here's how a week's worth of huge economic news will affect the Fed's decision-making
▼ + stars: | 2024-08-17 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

We have to remember, the Fed made one mistake, the transitory" call on inflation, said Quincy Krosby, chief global strategist at LPL Financial. Specifically, the Fed is faced with how quickly and aggressively it should respond now that the inflation rate is waning . "Jay Powell says they don't want to be data point dependent, and I think that makes sense. I don't think you have signs of weakness in the economy. You don't have signs of inflation being controlled, and you don't have any signal for the Fed to switch focus."

Persons: Jerome Powell's, Jackson, Quincy Krosby, Krosby, Richard Clarida, nonfarm payrolls, Powell, Jay Powell, Clarida, we'll, Komal, Kumar, He's Organizations: Federal Reserve, Fed, LPL, CNBC, Sri, Kumar Locations: Jackson Hole , Wyoming

This digital ad posted by Republican Senate candidate Dave McCormick in Pennsylvania, about a week before Biden eventually dropped his bid, was the blueprint. Almost immediately, Democrats saw a surge of support — mostly from disillusioned Democratic voters. As of this writing, it’s now Republicans in battleground states and districts who are begging their nominee to change course. As for the GOP, Trump and his allies have done everything they can to mold the GOP in Trump’s image, and anyone who doesn’t share that view has essentially been purged. Of course, the real challenge for both Republicans will be figuring out how to navigate Trump’s appearances in their respective states.

Persons: Joe Biden, Biden, ” Biden, “, Dave McCormick, Democratic Sen, Bob Casey’s, Kamala Harris, it’s, Donald Trump isn’t, Trump, Vivek Ramaswamy, Donald Trump, Harris, Ramaswamy, Hillary Clinton, Nikki Haley, wouldn’t, they’d, —, Sen, Pat Toomey, Toomey, McCormick, Brian Kemp, Larry Hogan, Domenici, Sherrod Brown, Clinton, I’d, Mike Rogers, can’t Organizations: Democrats, CBS News, Democratic, Republican, Senate, Trump, GOP, NPR, Republican Party, Biden, Republicans, White, Democratic Party, Republican Gov, Rogers Locations: Pennsylvania, Georgia, Maryland, New Mexico, Ohio, Trump, Michigan

☆ Intel sells stake in UK chip designer Arm amid company-wide restructuring and cost cuts
▼ + stars: | 2024-08-14 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Intel has sold its 1.18 million share stake in British chip firm Arm Holdings, according to a regulatory filing, as the California chip designer shores up its balance sheet amid intense competition. The sale, disclosed on Tuesday, likely raised Intel nearly $147 million, based on Arm's average stock price between April and June. Intel had cash and cash equivalents of $11.3 billion, and liabilities of about $32 billion at the end of June, according to its latest financials. Intel and Arm declined to comment on the sale when contacted by CNBC on Wednesday. Japan's SoftBank Group has a majority stake in Arm, and has been a beneficiary of the jump in the company's shares.

Persons: Pat Gelsinger, Gelsinger, Japan's Organizations: Intel, Arm Holdings, AMD, Qualcomm, Nvidia, Samsung, CNBC, Wednesday, Japan's SoftBank Locations: Santa Clara , California, California, South

☆ The US naval presence around the Middle East is getting a firepower boost. Here are the warships already there and what's on the way.
▼ + stars: | 2024-08-13 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

Facing this possibility, the Pentagon has deployed a number of military assets to the Middle East this month to defend Israel and US troops in the region. When these forces arrive on station, they will join a wide range of existing naval capabilities in the Middle East and Eastern Mediterranean that were already deployed in response to various conflicts and crises. AdvertisementAdditionally, two destroyers — USS Bulkeley and USS Roosevelt — have been in the area for several weeks. Warships in transitA MH-60S Sea Hawk helicopter flies next to the aircraft carrier USS Abraham Lincoln on August 2. The coming Lincoln strike group consists of the aircraft carrier USS Abraham Lincoln and the destroyers USS Spruance, USS Stockdale, USS Frank E. Petersen, and USS O'Kane.

Persons: —, Israel —, Defense Lloyd Austin, Sydney Milligan, Bulkeley, Roosevelt —, Laboon, Cole, Aden —, Theodore Roosevelt, Theodore Roosevelt Carrier, Dwight D, Michael Murphy, John S, McCain, Daniel Inouye, Russell —, Abraham Lincoln, Daniel Kimmelman, Roosevelt, USS Stockdale, Frank E, Petersen, USS O'Kane, Austin, Pat Ryder Organizations: Service, US Navy, Business, Pentagon, Defense, Sydney, Ready Group, US European Command, 24th Marine Expeditionary Unit, US Central Command, Oman Sailors, Hornet, Theodore Roosevelt Carrier Strike Group, Eisenhower Carrier Strike, Warships, Communication, US, Abraham Lincoln Carrier Strike Group, Lincoln, Pentagon Press, Air Force Locations: Israel, Iran, Tehran, East, American, Gibraltar, Lebanon, New York, Souda, Crete, Yemen, Red, Gulf, Aden, Oman, CENTCOM, Gulf of Oman, Beirut, Philippine, Georgia, The Ohio

☆ A US Navy carrier strike group equipped with F-35 stealth fighters is rushing to the Middle East along with a submarine packed with Tomahawk missiles
▼ + stars: | 2024-08-12 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

Read previewThe US is accelerating the deployment of a carrier strike group to the Middle East and sending a guided-missile submarine to the region, the Pentagon announced late on Sunday. Attached to the Lincoln, the lead ship of the US Navy's Carrier Strike Group 3, is a carrier air wing equipped with a squadron of fifth-generation F-35C stealth fighters. The aircraft carrier USS Abraham Lincoln maneuvers through a turn while underway in the US 5th Fleet area of responsibility. The Ohio-class guided-missile submarine USS Georgia returns to its homeport at Naval Submarine Base Kings Bay, Georgia. Both Iran and Hamas vowed revenge for the shocking killings, which sparked fears that any retaliation from Tehran and its proxies could send the Middle East spiraling into even more conflict.

Persons: —, Defense Lloyd Austin, Abraham Lincoln, Austin, Lincoln, Pat Ryder, Theodore Roosevelt Carrier, . Lee Apsley, Yoav Gallant, Ashley Berumen, Israel Organizations: Service, Pentagon, Sunday, Defense, Abraham Lincoln Carrier Strike Group, Business, Pentagon Press, US Navy's Carrier, Theodore Roosevelt Carrier Strike, Fleet, Navy, US, Command, Israeli, Naval Submarine Base, US Navy, Mass, Lincoln, Raptors Locations: Israel, Iran, Pacific, East, Lincoln, Gulf, Oman, Georgia, an Ohio, Austin, United States, Ohio, Bay , Georgia, Lebanon, Tehran

☆ U.S. sends more forces and military hardware to the Middle East in anticipation of Iranian attack on Israel
▼ + stars: | 2024-08-12 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

This handout photo provided by the US Navy shows the aircraft carrier USS Abraham Lincoln, left, in 2019. The U.S. is sending more troops and military hardware to the Middle East as it seeks to increase the resources available to "defend Israel," the Pentagon said in a statement. It comes against the backdrop of Iran's leadership vowing retaliation against Israel after the killing of Hamas' former political chief Ismail Haniyeh in Tehran on July 31. Iran, which supports Hamas, says Israel carried out the assassination. Tehran has not yet responded militarily to the act, leaving its adversaries and the wider region on tenterhooks.

Persons: Abraham Lincoln, Lloyd Austin, Pat Ryder, Yoav Gallant, Ismail Haniyeh, Israel Organizations: US Navy, Pentagon, . Defense, Pentagon Press, Austin, Israel's Locations: U.S, United States, Israel, Tehran, Iran, tenterhooks

A pair of Secret Service counter snipers, dubbed Hercules 1 and Hercules 2, surveilled the crowd from directly above and behind the stage. He radioed the local command post controlled by Butler County law enforcement and notified them of the kid with the rangefinder. “I can’t believe that the Secret Service hasn’t talked to any of our people,” he said prior to Friday’s reach out. In a different location, the Secret Service and state police set up another command post. New video reveals frustrationNicols, Woods, Young and other Beaver County officers weren’t the only ones to express concerns about the Secret Service planning.

Persons: Butler, Donald Trump’s, Greg Nicol, Trump, ” Nicol, Nicol, Thomas Matthew Crooks, ”, Pat Young, “, – Nicol, Jason Woods, Butler County’s, –, Woods, ” Woods, Crooks, Donald Trump, Brendan McDermid, AGR, Someone’s, Young, Puy, didn’t, Nate Bible, – Young, hasn’t, couldn’t, Anthony Guglielmi, ” “, ” Guglielmi Organizations: Pennsylvania CNN, CNN, Service, Beaver County SWAT, Secret Service, Glass Research, Secret, Trump, Authorities, Reuters, Pennsylvania State Police, Washington Post, FBI, Post, Army National Guard, CNN Secret Service, Attorney, ABC, Police Department, Butler, Police Locations: Pennsylvania, Butler , Pennsylvania, Pittsburgh, Butler, Butler County, ‘, Beaver County, AGR, Beaver, Iraq, Beaver , Pennsylvania, Majlie, Puy Kamp, Washington, U.S

☆ Meet the Gen-Zers and millennials working summer jobs on top of their 9-to-5s: 'It's helped me feel happier, more relaxed.'
▼ + stars: | 2024-08-10 | by ( Morgan Smith | ) www.cnbc.com time to read: +6 min

Laquintano, 28, started working there with her older sister when she was 16 to kill time while she was off school. She works at Rita's with her younger brother, Andrew, who is home from college for the summer. As a remote employee, Fullerton says working at Bird & Betty's has also given him a much-needed social outlet. Oddly enough, working more has helped me feel happier, more relaxed." Alvarado spends her summers working as a camp counselor at the Kickapoo Kamp for Girls in Kerrville, Texas.

Persons: Gen Zers, millennials, Anna Laquintano, she's, Rita's, Laquintano, I've, it's, Andrew, Pat Fullerton, Betty's, Fullerton, he'll, Krystal Alvarado, She's, Alvarado Organizations: Fullerton, it's, American Heritage Federal Credit Union, CNBC, Bird, Start, Girls Locations: Beach Haven , New Jersey, Rockledge , Pennsylvania, Philadelphia, Rita's, Italian, New Jersey, Beach, Fullerton, Hoboken , New Jersey, Texas, Alvarado, Hidalgo County, South Texas, Kerrville , Texas

☆ The Man Who Tried to Solve Immigration for the G.O.P.
▼ + stars: | 2024-08-10 | by ( Lulu Garcia-Navarro | ) www.nytimes.com time to read: +2 min

Before you were in politics, you ran the largest Baptist youth camp in the country, Falls Creek. That’s what my wife and I did for 22 years, to be able to just love on families and to encourage them. And in 2008 and 2009, we really felt a calling to be able to run for Congress in the central district. As I joke with some of my Democrat colleagues, we’re friends, but they’re wrong all the time. They vote wrong all the time, but we can still be friends in our conversation and relationship and try to be able to engage.

Persons: James, “, It’s Organizations: Republican Party, Baptist, Republican Locations: Trump, Oklahoma

☆ Former Hells Angels member rates 11 biker gang scenes in movies
▼ + stars: | 2024-08-09 | by ( Margaret Guzman | Korey Isbell | ) www.businessinsider.com time to read: +1 min

Former Hells Angels chapter president Pat Matter breaks down biker gang scenes in movies and television, such as "Sons of Anarchy," for realism. Matter discusses life during and after joining the Hells Angels, such as the initiation ceremony for a prospect in "Hells Angels on Wheels," starring Jack Nicholson; the role of women in outlaw motorcycle clubs in "Yellowstone" S3E4 (2020); and the plausibility of law enforcement going undercover to infiltrate outlaw motorcycle clubs in "Beyond the Law," with Charlie Sheen. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account?

Persons: Pat Matter, Angel —, Robert De Niro, Austin Butler, Tom Hardy, S2E1, Jack Nicholson, Charlie Sheen Organizations: Hells Angels, Outlaws, Business

☆ We left the U.S. and opened a bar in Paris that brings in up to $34,100 a month: 'There's an ease to living here'
▼ + stars: | 2024-08-06 | by ( Megan Sauer | ) www.cnbc.com time to read: +5 min

Kave and fellow American ex-pat Jennifer Crain are the co-founders of Abricot, a cocktail bar in Paris' 10th arrondissement. The bar has a small staff: three hourly employees and three contract employees. A mutual connection virtually introduced Kave and Crain shortly after, and the pair started expanding Crain's idea for a Parisian cocktail bar. They found a location and named their business Abricot, which is French slang for female genitalia. The delays ate up most of the initial investment, Crain says, as Abricot paid rent for over a year before it opened.

Persons: Allison Kave, Kave, she'd, Jennifer Crain, Crain, Abricot Organizations: Abricot, CNBC, Crain, Employees Locations: U.S, Paris, San Francisco, Austin , Texas, Brooklyn , New York, Brooklyn, crowdfunding, France, Europe

☆ Markets are rebounding after Monday's massive meltdown, making rate decisions harder for the Fed
▼ + stars: | 2024-08-06 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Read previewMarkets are rebounding after Monday's meltdown, injecting challenges into central banks' interest-rate decisions. The market volatility is due to a mix of factors including poor earnings results from several tech giants and a weak July payroll report. AdvertisementSome analysts are speculating that the BOJ rate cut was because it was under political pressure to shore up the floundering yen, Bloomberg reported on Monday. Related storiesGoing forward, the BOJ could have a harder time with the timing of its rate hike decisions. Talks of an emergency rate cutThe market selloff has also made the Fed's rate hike timing harder.

Persons: —, Kospi, Taiwan's Taiex, Kyle Rodda, It's, Vishnu Varathan, Mizuho Bank's, Capital.com's Rodda Organizations: Service, Business, Bank of Japan, US Federal Reserve, —, Bloomberg, Nikkei, Japan's, of Finance, Financial Services Agency Locations: Japan, Asia

☆ The stock market is in no man's land. Here's what investors should expect next
▼ + stars: | 2024-08-04 | by ( Jim Cramer | ) www.cnbc.com time to read: +16 min

Anything above 4% indicates the market is overbought, anything below a minus 5% means the market is oversold.) I am just prematurely predicting other investors fleeing the stock because they think Warren knows more than them. Many investors thought that Amazon was the best set up of the Mag Seven going into earnings. We are right smack in a most perilous moment because the Fed doesn't want to move too fast but the stock market does and the Fed does not care about that. I don't think a presidential election is all that conducive to the market.

Persons: Warren Buffett's Berkshire Hathaway, Apple, Warren, That's, Buffett, Tim Cook, Cook, Carl Icahn, I'd, Donald Trump, don't, Jerome Powell, Meta, It's, Pat Gelsinger, Andy Grove, Gelsinger, Craig Barrett, that's, Pat, Let's, Mark Zuckerberg, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Dow, of America, Apple, Microsoft, Bank of America, Amazon Web Services, Investors, Comcast, Walgreens, CVS, Federal, whimpers, Amazon, Nvidia, Meta, Intel, Lenovo, Dell, HP, CNBC, Jim Cramer's Charitable, Traders, New York Stock Exchange Locations: Friday's, China, —, Wells, U.S, humorless, Taiwan, Brookfield, Arizona, NBCUniversal

☆ Tech stocks wrap up steepest three-week slump in two years, led by plunge in Amazon and Intel
▼ + stars: | 2024-08-02 | by ( Ari Levy | ) www.cnbc.com time to read: +6 min

Amazon and Apple both reported earnings on Thursday, with Amazon missing on revenue and issuing a disappointing forecast and Apple showing top-line growth of just 5%. The one mega-cap tech company that's yet to release results is Nvidia, which has been the biggest winner in the AI boom. The stock is down 17% over the Nasdaq's three-week slump, though it's still up more than 110% for the year. Intel reported a big earnings miss and announced a mass restructuring that includes eliminating 15% of its staff. CEO Pat Gelsinger told CNBC on Friday that it's the "most substantial restructuring of Intel since the memory microprocessor transition four decades ago."

Persons: Stephanie Keith, Josh Koren, Koren, CNBC's, Brian Olsavsky, Meta, Mark Zuckerberg, Zuckerberg, it's, Pat Gelsinger, INTC, Bernstein Organizations: Nasdaq, Bloomberg, Getty, Labor Department, Musketeer Capital Partners, Apple, Amazon, Microsoft, Mizuho, Meta, Wall, Nvidia, Intel, CNBC, KeyBanc, Markets Locations: New York, freefall, U.S

☆ Jim Cramer makes stock calls on surging DoorDash, tanking Intel, and 2 others
▼ + stars: | 2024-08-02 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +1 min

They act as if they're not," Jim Cramer said Friday. "They're talking about a lack of innovation and a pipeline that doesn't look that good," Cramer said, suggesting he's not too pleased with the situation. DoorDash : The stock jumped 7% after a strong quarter and a guidance raise. "This is a very good stock." Cramer said that if ad share is going to Meta Platforms , "just go buy Meta."

Persons: Jim Cramer's, they're, Jim Cramer, David Zinsner, Pat Gelsinger, Cramer, he's Organizations: CNBC, Club, Intel, Meta

☆ Intel's 22% share plunge drags down global chip stocks from TSMC to Samsung
▼ + stars: | 2024-08-02 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Pat Gelsinger, chief executive officer of Intel Corp., speaks during the Computex conference in Taipei, Taiwan, on Monday, June 4, 2024. Intel shares fell 21.51% at 04:37 a.m. In Asia, Taiwan Semiconductor Manufacturing Co. — known as TSMC — closed 4.6% lower in Taiwan, and Samsung was also more than 4% lower at the end of the session in South Korea. TSMC is the world's biggest manufacturer of chips, while Samsung is the largest memory semiconductor firm globally. Samsung rival SK Hynix, which supplies U.S. giant Nvidia, also fell sharply to close more than 10% lower.

Persons: Pat Gelsinger, Gelsinger, Annabelle Chih Organizations: Intel Corp, Nvidia Corp, Bloomberg, Getty, Intel, Taiwan Semiconductor Manufacturing, Samsung, SK Hynix, Nvidia Locations: Taipei, Taiwan, U.S, Asia, South Korea, TSMC

☆ Intel plunges 30%, most since 1982, after announcing layoffs and weak guidance
▼ + stars: | 2024-08-02 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Intel's stock plunged as much as 30% on Friday, its biggest daily decline since at least 1982. The dip comes after the company announced plans to lay off 15,000 workers. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementIntel's stock took a big hit after the company issued disappointing guidance and announced sweeping layoffs in its most recent earnings report. Shares plunged as much as 30% on Friday, its biggest single-day drop since at least 1982, according to Bloomberg data.

Persons: —, Pat Gelsinger, ASML, Gelsinger Organizations: Service, Bloomberg, Intel, Nikkei, Nvidia Locations: Tokyo, Japan, Netherlands

☆ Pete Buttigieg: How his 2020 campaign built the base driving his VP buzz
▼ + stars: | 2024-08-02 | by ( Arit John | ) edition.cnn.com time to read: +8 min

Buttigieg isn’t the only politician to exit a Democratic presidential primary with an enduring army of online super fans. “Team Pete” didn’t disappear, but the “veepstakes” reactivated his supporters, said Mike Schmuhl, Buttigieg’s 2020 campaign manager. This week, though, he joined the list of vice presidential hopefuls to cancel a planned event with limited explanation. They reject the idea that America isn’t ready for a major-party ticket featuring both a Black woman and the first out gay vice presidential pick. “I definitely think in my lifetime he will be on a ticket,” said Brandon Neal, a Democratic strategist and senior adviser to the 2020 campaign.

Persons: Pete Buttigieg, “, ”, Kamala Harris, George Hornedo, “ They’ve, they’ve, Pete’s, ” Buttigieg, Harris, Buttigieg’s, Buttigieg, Independent Sen, Bernie Sanders, Andrew Yang’s “ Yang, ” Harris, hyping, Pete ” didn’t, Mike Schmuhl, “ Joe Biden, it’s, Pete, Kamala Harris ”, Joseph Guarino, Pete ”, ” Guarino, Josh Shapiro, Arizona Sen, Mark Kelly, Tim Walz, Pat Ryan, ” Ryan, Biden, He’s, Harris ’, Donald, Trump, MAGA, President Harris, Shapiro, he’s, he’d, Don Beyer, ” Nina Smith, ” Smith, there’s, Brandon Neal, Jamie Gangel, Ali Main Organizations: CNN, Democratic, Fox News, Independent, “, Democratic Party, Pennsylvania Gov, Minnesota Gov, Department of Transportation, New York Democrat, House Democrats, Indiana, Virginia Rep Locations: South Bend , Indiana, Iowa, New Hampshire, New York City, Philadelphia, Arizona, Kokomo , Indiana, America, New York, Michigan

☆ Intel lays off 15% of its staff and its stock tumbles as it struggles to turn around its ailing business
▼ + stars: | 2024-08-01 | by ( Ramishah Maruf | Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

New York CNN —Intel is slashing 15% of its staff as part of a $10 billion plan to reduce costs, the tech company announced in its second-quarter earnings Thursday. “Our revenues have not grown as expected — and we’ve yet to fully benefit from powerful trends, like AI. The company is holding out hope that the AI investments will pay off. Intel wants to cut the $10 billion by 2025. Other tech earnings falterAmazon’s sales grew 10% last quarter and its operating profit nearly doubled, the company said Thursday.

Persons: “, Pat Gelsinger, Jacob Bourne, TSMC, ” Neil Saunders Organizations: New, New York CNN, Intel, Qualcomm, Texas Instruments, Nvidia, Apple, GlobalData Locations: New York, “, United States

☆ Intel to cut 15% of headcount, reports quarterly guidance miss
▼ + stars: | 2024-08-01 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

The company had a $1.61 billion net loss, or 38 cents per share, compared with net income of $1.48 billion, or 35 cents per share, in the year-ago quarter. For the fiscal third quarter, Intel called for an adjusted net loss of 3 cents per share on $12.5 billion to $13.5 billion in revenue. The LSEG consensus was adjusted net earnings of 31 cents per share and $14.35 billion in revenue. During the fiscal second quarter, Intel announced that Apollo would invest $11 billion in a joint venture around a chip manufacturing plant in Ireland. On an adjusted basis, Intel said it expects around $20 billion in cuts this year, $17.5 billion in 2025 and more in 2026.

Persons: Pat Gelsinger, Bill Baruch Organizations: Intel, Computing, StreetAccount, Intel's Data, Apollo, Gaudi, U.S . Commerce Department, Huawei Locations: Taipei, Ireland, China

☆ Dollar, yen hold tight ranges ahead of BOJ, Fed
▼ + stars: | 2024-07-30 | by ( ) www.cnbc.com time to read: +3 min

The dollar and yen kept within close ranges on Tuesday as traders awaited a barrage of key central bank decisions, kicking off with midweek monetary policy meetings from the Bank of Japan and Federal Reserve. The dollar and yen kept within close ranges on Tuesday as traders awaited a barrage of key central bank decisions, kicking off with midweek monetary policy meetings from the Bank of Japan and Federal Reserve. The Japanese currency was taking a breather from its recent rally as the BOJ began its two-day meeting on Tuesday, having surged over 2% against the dollar last week. The Fed is widely expected to stand pat this week, but markets are betting the U.S. central bank will begin cutting rates at the following meeting in September. Investors will be listening for any hints that Fed Chair Jerome Powell may drop on how soon policymakers are prepared to cut rates at his press conference.

Persons: Matt Simpson, Jerome Powell, Powell, Jackson, Index's Simpson, Sterling, bitcoin Organizations: Bank of Japan, Federal Reserve, Index, Fed, Treasury, Bank of England's Locations: U.S

☆ We're raising our Stanley Black & Decker price target on the stock's earnings rally
▼ + stars: | 2024-07-30 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Stanley Black & Decker on Tuesday morning delivered solid quarterly results — enhanced by strong cash flow performance, allowing management to raise its full-year guidance. Stanley Black & Decker Why we own it: Stanley Black & Decker is in the later innings of a multi-year restructuring plan. Stanley Black & Decker, which also makes fastening and assembly systems, jumped 7.5% on Tuesday's release following last week's 9.7% gain. Full-year organic sales in Tools & Outdoor are projected to be down about 1% at the midpoint, with year-over-year margin improvement. To honor the occasion, Donald Allan, Jr., President & CEO of Stanley Black & Decker, joined by Chris Taylor, NYSE Global Head of Advisory, rings the Opening Bell®.

Persons: Stanley Black, Decker, we're, Don Allen, DeWalt, Pat Hallinan, —, Jim Cramer's, Jim Cramer, Jim, Donald Allan , Jr, Chris Taylor Organizations: Revenue, Bosch, Techtronic Industries, Federal Reserve, Management, Stanley, Aerospace, CNBC, The New York Stock Exchange, NYSE Global Locations: Europe, France, Italy, Latin America

☆ Ukraine developed new shields for its US-made Bradleys, which are excelling against Russia
▼ + stars: | 2024-07-29 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementMetinvest has already made screens for Ukrainian tanks and said in June that it had made 25 screens, including for the US Abrams tank. Ukraine has received more than 300 Bradleys from the US, and has used them to transport troops and to target Russian armor, bunkers, and infantry. Global Images Ukraine | Getty ImagesThe vehicles are more maneuverable and repairable than some heavier armor and are also able to strike back. Related storiesBradleys have been filmed going head-to-head against Russia's armored vehicles, including Russia's most advanced tank, the T-90M.

Persons: —, Oleksandr Myronenko, Myronenko, Metinvest, Pat Ryder, Bradley, it's Organizations: Service, Bradley, Ukraine's, Newsweek, Business, US Abrams, Getty, Pentagon Locations: Ukraine, Russian

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