0
0.0
Aug 30, 2024
08/24
by
BLOOMBERG
tv
eye 0
favorite 0
quote 0
sonali: last week gelsinger told a conference it has "been a difficult few weeks." and the market did not respond positively. with more on the until news is one of the reporters behind the bloomberg report, ryan gold. i want to talk about how we got here. there were rumors that perhaps intel was seeking financial advice in response to potential activist concerns. what are you hearing? ryan: those reports came out almost a week ago. given where intel is those reports weren't surprising. from what we could tell from talking to sources, where those came from morn to clear. yes, while the company is vulnerable, looking at the tone gelsinger struck yesterday at the deutsche's conference, it is not clear how to create an immediate impact or upside. none of the options in the story are easy to achieve. if you were looking at the stock this morning you might think you have missed out, but it's a long-term project. >> the stock has been down 56% and is rallying today. maybe the activists are missing the opportunity. perhaps with the stock declining more than 50% this year yo
sonali: last week gelsinger told a conference it has "been a difficult few weeks." and the market did not respond positively. with more on the until news is one of the reporters behind the bloomberg report, ryan gold. i want to talk about how we got here. there were rumors that perhaps intel was seeking financial advice in response to potential activist concerns. what are you hearing? ryan: those reports came out almost a week ago. given where intel is those reports weren't...
0
0.0
Aug 2, 2024
08/24
by
BBCNEWS
tv
eye 0
favorite 0
quote 0
according to ceo pat gelsinger, those cuts will affect roughly 15,000 employees and take place this yearthe steps were necessary, given revenues have not grown as expected, with costs too high. for the april tojune quarter, intel reported weaker revenue and profit numbers. former cnn presenter, don lemon, has sued tesla boss elon musk and his social media platform x, alleging that he didn't receive payment for a now—defunct content deal with the platform. mr lemon launched his show on x injanuary, and was agreed to be paid $1.5 million. but it was cancelled in march, just hours after the first interview with mr musk, where the journalist asked the billionaire about his drug use and political views. court papers show that mr lemon did not sign a contract, but was reassured by mr musk that he would financially support the show. x and mr musk have not yet commented. staying with tech, two weeks after crowdstrike sparked what's been described as the largest ever global it outage, most affected computers are now back to normal, but the disruption ran up costs into billions of dollars. speakin
according to ceo pat gelsinger, those cuts will affect roughly 15,000 employees and take place this yearthe steps were necessary, given revenues have not grown as expected, with costs too high. for the april tojune quarter, intel reported weaker revenue and profit numbers. former cnn presenter, don lemon, has sued tesla boss elon musk and his social media platform x, alleging that he didn't receive payment for a now—defunct content deal with the platform. mr lemon launched his show on x...
0
0.0
Aug 2, 2024
08/24
by
BBCNEWS
tv
eye 0
favorite 0
quote 0
according to ceo pat gelsinger, those cuts will affect roughly 15 thousand empoyees and take place thisave not grown as expected, with costs too high. social media users in turkey have been unable to access instagram since early on friday in the latest instance of a clampdown on access to online platforms. officials said the site had been banned but did not say why. stay with us here on bbc news. hello. a second boxer who has previouslyfailed tests for elicarini a second boxer who has previously failed tests for eligibility for the women's category is currently in the ring shortly at the olympics.
according to ceo pat gelsinger, those cuts will affect roughly 15 thousand empoyees and take place thisave not grown as expected, with costs too high. social media users in turkey have been unable to access instagram since early on friday in the latest instance of a clampdown on access to online platforms. officials said the site had been banned but did not say why. stay with us here on bbc news. hello. a second boxer who has previouslyfailed tests for elicarini a second boxer who has...
0
0.0
Aug 30, 2024
08/24
by
BLOOMBERG
tv
eye 0
favorite 0
quote 0
there is a huge amount of pressure on the ceo pat gelsinger who took the role in 2021. seems like he could have been overly ambitious, and intel is talking with its long-standing bankers, morgan stanley, goldman sachs to talk about different options for the company moving forward. one of the most extreme we are sharing about his it could spin off or list its foundry business. that is an area pat gelsinger viewed as key to restore intel's standing amongst chipmakers. perhaps it will not come to that. we could for instance see a less dramatic step forward before we reach that point. joumanna: again, we were speaking about this earlier on one of the earlier shows and about the foundry business being a business of scale, and it became increasingly difficult for intel to compete with the likes of tsmc. you talk about the spinoff of its foundry. do you know anything about the timing? annabelle: the timing of the options is what we have been hearing from sources. we understand there is a board meeting taking place next month in september, so at that point in time these options
there is a huge amount of pressure on the ceo pat gelsinger who took the role in 2021. seems like he could have been overly ambitious, and intel is talking with its long-standing bankers, morgan stanley, goldman sachs to talk about different options for the company moving forward. one of the most extreme we are sharing about his it could spin off or list its foundry business. that is an area pat gelsinger viewed as key to restore intel's standing amongst chipmakers. perhaps it will not come to...
0
0.0
Aug 2, 2024
08/24
by
CNBC
tv
eye 0
favorite 0
quote 0
the mizuho trading note says the gelsinger magic show is now out of tricks.unity has decided they're no longer interested in trying to support the stock, to your point. it's an $89 billion market value. the story is one that will be written about, i would assume, in textbooks in terms of missed opportunities, poor decision-making by previous ceos of this company, which was one once of the largest market cap companies in the world. obviously, the leader in cpus. the huge demand of chips as a result of the pc revolution, in ways, but failed to make the successful transition when it came to the fabs producing the sophisticated chips, in terms of width, so to speak. >> there was some recent optimism around the chips act, a key beneficiary. gelsinger lobbied hard for that on capitol hill. onjust a value proposition. in a world where semiconductors are getting more expensive by the day, but it does feel like reading the commentary today, there's just lack of condition in the recovery story no matter what value is. >> without a doubt. >>> let's continue to talk sort
the mizuho trading note says the gelsinger magic show is now out of tricks.unity has decided they're no longer interested in trying to support the stock, to your point. it's an $89 billion market value. the story is one that will be written about, i would assume, in textbooks in terms of missed opportunities, poor decision-making by previous ceos of this company, which was one once of the largest market cap companies in the world. obviously, the leader in cpus. the huge demand of chips as a...
0
0.0
Aug 2, 2024
08/24
by
BBCNEWS
tv
eye 0
favorite 0
quote 0
according to ceo pat gelsinger, tho5e cuts will affect roughly 15,000 empoyee5 and take place this yeare not grown as expected, with costs too high. around the world and across the uk, this is bbc news. welcome back to the programme. market5 have been sliding during the trading day, largely tracking the declines seen on wall street overnight that we told you about. a few factors at play — including a strong yen and interest rate decision5. suranjana tewari is following the story from our asia bu5ine55 hub in singapore...(sot bu5ine55 hub in singapore. asian shares have been sliding with an uk injapan down as much asa with an uk injapan down as much as a whopping 5% and headed for its worst day in more than four years. asian markets tracking a slide that market5 tracking a slide that was all over on wall street, they have been weighed down by a few factors including their 5urging yen a5 a few factors including their 5urging yen as well is uncertainty over when interest rates in the us could fall, rather with some saying that september which is when the fed indicated it would loosen monet
according to ceo pat gelsinger, tho5e cuts will affect roughly 15,000 empoyee5 and take place this yeare not grown as expected, with costs too high. around the world and across the uk, this is bbc news. welcome back to the programme. market5 have been sliding during the trading day, largely tracking the declines seen on wall street overnight that we told you about. a few factors at play — including a strong yen and interest rate decision5. suranjana tewari is following the story from our asia...
0
0.0
Aug 30, 2024
08/24
by
BLOOMBERG
tv
eye 0
favorite 0
quote 0
how much of an impact is this on pat gelsinger in and of himself, ian? ian: he came -- he was brought into turn this company around, if you like, to make up for the mistakes of his predecessors. the problem is that it takes time. you don't design a chip one day and have it on the market the next. we are looking at years to have new products out there and gain traction. in snc is doing what he said he was going to do -- in a sense he is doing what he said he was going to do. at the time investors sign off on that. the problem is we are looking at the bottom, the point at which things start to get better. the problem pat has is a lot of things have come together and that hasn't happened yet. don't have a sign we are back on the upslope. ed: ian king, thank you for this entire week, nvidia earnings, the reporting. it's been quite a week in the world of semiconductors. it's been a big week in markets, particularly for technology investors. understatement. the focus, and videos earnings which -- nvidia's earnings which were just not enough against skyhigh exp
how much of an impact is this on pat gelsinger in and of himself, ian? ian: he came -- he was brought into turn this company around, if you like, to make up for the mistakes of his predecessors. the problem is that it takes time. you don't design a chip one day and have it on the market the next. we are looking at years to have new products out there and gain traction. in snc is doing what he said he was going to do -- in a sense he is doing what he said he was going to do. at the time...
0
0.0
Aug 2, 2024
08/24
by
CNBC
tv
eye 0
favorite 0
quote 0
ceo pat gelsinger spoke to jon fortt about the intel efforts to catch up with the competition when it >> everybody is still pretty focused on their a.i. and accelerate erior investments an cpu is modest. we see bread crumbs of enterprise cycles. we do expect growth there. our products are getting stronger, but the story is one where the data center and cloud is driven by the a.i. investments as the primary ones. we're seeing some good early signs of customers there. we do see some of those benefits, but fundamentally, we are not getting the full benefits of that in our full business. >> intel is casting a cloud over the entire computer chip dry today. amd and nvidia and taiwan semiconductor all in the red. joining me now is our guest from wedbush. matt, this is a situation where the dow component has not been, perhaps, indicative of the broader chip sector for some time now. just how bad are the results and how do they read for the sector? >> from the intel perspective, i think results are concerning. from the sector perspective, we had amd earlier in the week and amd gave us pretty g
ceo pat gelsinger spoke to jon fortt about the intel efforts to catch up with the competition when it >> everybody is still pretty focused on their a.i. and accelerate erior investments an cpu is modest. we see bread crumbs of enterprise cycles. we do expect growth there. our products are getting stronger, but the story is one where the data center and cloud is driven by the a.i. investments as the primary ones. we're seeing some good early signs of customers there. we do see some of...
0
0.0
Aug 2, 2024
08/24
by
CNBC
tv
eye 0
favorite 0
quote 0
gelsinger said this is what we need to do, this is necessary.d to worse with intel. >> on the stock price, this $20 level, that's around -- that's around where the stock has been at the lowest s est levels, inc where it was on an upswing in 1997. so not good. but there are also job cuts happening here, significant, 15% plus. i asked him, well, if you're cutting that much, there has to be entire things that you stop doing, i imagine. what exactly is going to be cut. here's what he said. >> as we have done this clean sheet analysis, we have seen quite a number of areas where i'll just say we're not nimble efficient company. as we look at it through this clean sheet lens, we looked at every area, our gna, sales and mark marketing, operational performance, as we look at the design teams, we haven't been fully leveraging industry best practices and eda and design practices. so each one of these has targets to be cut. we're also doing portfolio analysis. we're not changing any of those, a foundry, our client networking data business, but we're looking
gelsinger said this is what we need to do, this is necessary.d to worse with intel. >> on the stock price, this $20 level, that's around -- that's around where the stock has been at the lowest s est levels, inc where it was on an upswing in 1997. so not good. but there are also job cuts happening here, significant, 15% plus. i asked him, well, if you're cutting that much, there has to be entire things that you stop doing, i imagine. what exactly is going to be cut. here's what he said....
0
0.0
Aug 30, 2024
08/24
by
BLOOMBERG
tv
eye 0
favorite 0
quote 0
that's really significant because pat gelsinger, who took the ceo role back in 2021, has really promisednaround of the company. part of that is promising to build out the foundry division and start to compete with the likes of tsmc. of course, that is the most extreme, as i said. so perhaps more likely right now as they take a less extreme move and maybe hold off on some expenditure plans. that's what we are hearing from sources at least. >> what do you make of the timing of this reported move? annabelle: as we said, it's really around, coming very much off the back of those earnings announcements and really points to the amount of pressure that pat gelsinger is facing here, given he has staked so much on efforts on this much-needed turnaround. the various moves and the potential for these to be enacted, well, the timing of those also really relates to the upcoming meeting that we've got. there's a board meeting that's taking place in september, so what sources have told us is that those various options could be presented at that point in time. but no decisions appear to be imminent for
that's really significant because pat gelsinger, who took the ceo role back in 2021, has really promisednaround of the company. part of that is promising to build out the foundry division and start to compete with the likes of tsmc. of course, that is the most extreme, as i said. so perhaps more likely right now as they take a less extreme move and maybe hold off on some expenditure plans. that's what we are hearing from sources at least. >> what do you make of the timing of this reported...
0
0.0
Aug 2, 2024
08/24
by
CNBC
tv
eye 0
favorite 0
quote 0
here's what pat gelsinger told jon fortt today. >> the story is still one where the data center and thethe primary ones. we're seeing some good, early signs of customers there. we do see some benefits, but fundamentally we're not yet getting the full benefits of that in our business. >> other semi stocks pressured today in sympathy. nvidia, taiwan, among those. let's bring in ben, great to have you with us. things changed for you on this earnings report. you downgraded intel to a hold. so what specifically is it and have you basically given up on this turn-around story? >> well, it was like a do or die kind of report for them. and they obviously missed it. in the second half we have several companies that are doing well and going to do well. so, in terms of the impact on the space, i see a lot of opportunity. i see them giving opportunity to amd, obviously. if there's a sell-off in names like broadcom and nvidia, i think you can take advantage of it. i think there's intel-specific stuff going on. when you start talking about cutting dividends and, hey, we got the cash flow break even at
here's what pat gelsinger told jon fortt today. >> the story is still one where the data center and thethe primary ones. we're seeing some good, early signs of customers there. we do see some benefits, but fundamentally we're not yet getting the full benefits of that in our business. >> other semi stocks pressured today in sympathy. nvidia, taiwan, among those. let's bring in ben, great to have you with us. things changed for you on this earnings report. you downgraded intel to a...
0
0.0
Aug 2, 2024
08/24
by
CNBC
tv
eye 0
favorite 0
quote 0
was this a miss on gelsinger's watch?this something that started before him and didn't get fixed? >> way before him. >> you will suffer recriminations. >> way before, becky, way before gelsinger. this is on his watch. he could have come in when he came into the company and just restructured and cut massive costs and really take the bull by the horns and he didn't. so, therefore, you know, you have to place blame on him. the strategy was not put in place for anything a.i. many, many years ago which you had to do to actually start to see the gener benefits today. >> stephanie, thank you. stephanie link. we want to get back out to andrew in paris. >>> thanks, becks. offices in silicon valley and elsewhere play ping pong. here, it's table tennis and it is having a big moment. i joined forces, this is a collab with willie geist from "morning joe." we grabbed paddles under the supervision under rachel sung from team usa. take a look at this. ♪ >> wow. >> incredible. >> almost automated. amazing. guys, that is amazing. >> she pl
was this a miss on gelsinger's watch?this something that started before him and didn't get fixed? >> way before him. >> you will suffer recriminations. >> way before, becky, way before gelsinger. this is on his watch. he could have come in when he came into the company and just restructured and cut massive costs and really take the bull by the horns and he didn't. so, therefore, you know, you have to place blame on him. the strategy was not put in place for anything a.i. many,...
0
0.0
Aug 11, 2024
08/24
by
NTV
tv
eye 0
favorite 0
quote 0
your eyes look straight ahead, consider the path of your feet, and be sure in all your ways, wrote pat gelsingerte house seemed to heed his prayers. biden was trying hard to save face, because a few days before american investors looked into the abyss, he declared: i have cured the economy, and if this therapy was shock, then the american president's plan really worked, black... on monday, the american markets began with the worst nightmare of an investor, everything collapsed, stock indices, commodity quotes, even the traditionally protective asset, gold. in a matter of minutes, trillions of dollars in investment and capitalization were lost, it was practically a free fall. in the red zone , all the companies that went into the minus, from the start of trading on the american stock exchange, a total collapse. even the market leaders, apple, google and microsoft, could not stand. the index of the largest american companies, the dow jones, fell by more than 1.0 points - that's -3%. the standard purse index, which tracks the performance of 500 us companies, also known as the s&p 500, at the start
your eyes look straight ahead, consider the path of your feet, and be sure in all your ways, wrote pat gelsingerte house seemed to heed his prayers. biden was trying hard to save face, because a few days before american investors looked into the abyss, he declared: i have cured the economy, and if this therapy was shock, then the american president's plan really worked, black... on monday, the american markets began with the worst nightmare of an investor, everything collapsed, stock indices,...
0
0.0
Aug 13, 2024
08/24
by
CNBC
tv
eye 0
favorite 0
quote 0
and you've got a strong, savvy ceo, i mean, you and i were on the air years ago when gelsinger took over disappointed at intel. the ceo was not up to the task. i think in this case, you have two powerful components that will begin to show improvement, i think pretty quickly. and i think you want to hang onto the stock. yeah, there's a lot of problems, there always are when you get a new ceo in this kind of situation. but he will have the ability and the support of the board to get it done. >> greg, what would make you much more positive about -- listen, i might argue you could upgrade this on nickel coming in, but operationally or in terms of some of the levers i mentioned, any that come to mind that would move the needle here very quickly? >> this shows you how important management is. $25 billion of market cap across these two stocks shifting. it's one of the most astounding things i've seen. we've had a bunch of criticisms of starbucks. a few of those have been the need to cut store growth. they're growing stores in the u.s. about 4% on a base of 17,000 locations. and also just some o
and you've got a strong, savvy ceo, i mean, you and i were on the air years ago when gelsinger took over disappointed at intel. the ceo was not up to the task. i think in this case, you have two powerful components that will begin to show improvement, i think pretty quickly. and i think you want to hang onto the stock. yeah, there's a lot of problems, there always are when you get a new ceo in this kind of situation. but he will have the ability and the support of the board to get it done....
0
0.0
Aug 5, 2024
08/24
by
CNBC
tv
eye 0
favorite 0
quote 0
he's going full bore, gelsinger, is the most expensive areas. conference call was -- it was, frankly, unconscionable and also -- >> argue to invade taiwan would change everything. >> they need geopolitical. there are some things, like, yes, it would be a safe zone if china -- i don't want to put that out there but i thought he was incoherent on the call and a lot of questions were directed to the cfo after because of his incoherence. i don't think that he realizes how big the problems are and i think, ready? >> yeah. >> i think it's oversaid -- >> i'm sorry. >> i think it's over his head. >> over his head? >> because you have dell and lenovo and hp trying to figure out if they need a second source. you have lisa su so ready to do anything they need. 2009, he was let go by intel because he was doing graphics. who wants graphics? nvidia. so i think there's a little history here. we should not presume that intel stumbled. we have to presume that intel is flat on its face. >> got you. there's going to be a lot of red on the realtime exchange backat
he's going full bore, gelsinger, is the most expensive areas. conference call was -- it was, frankly, unconscionable and also -- >> argue to invade taiwan would change everything. >> they need geopolitical. there are some things, like, yes, it would be a safe zone if china -- i don't want to put that out there but i thought he was incoherent on the call and a lot of questions were directed to the cfo after because of his incoherence. i don't think that he realizes how big the...
0
0.0
Aug 30, 2024
08/24
by
CNBC
tv
eye 0
favorite 0
quote 0
we're told pat gelsinger is looking at all options. morgan stanley among the banks engaging with intel on different strategic moves that could include splitting or selling certain parts of the business. unclear that would include the foundry business. remember intel is building five fabs in the u.s., capital from private equity players brookfield and apollo has helped intel's expansion efforts. it is very expensive project to go under. when intel did announce its cost-cutting efforts in august, i asked the company's cfo whether foundry plans would be impacted, and he said no, it continues full steam ahead. the weakness in intel's core business does raise question as to whether that is a realistic goal. i'm told the company is trying to come up with a few solutions ahead of its internal board meeting next month. we're looking at the stock higher. you pointed to it. still has a lot of ground to make up. down about 50% this year. >> anything in the report or maybe wild speculation or chatter that suggests to you that honestly that intel c
we're told pat gelsinger is looking at all options. morgan stanley among the banks engaging with intel on different strategic moves that could include splitting or selling certain parts of the business. unclear that would include the foundry business. remember intel is building five fabs in the u.s., capital from private equity players brookfield and apollo has helped intel's expansion efforts. it is very expensive project to go under. when intel did announce its cost-cutting efforts in august,...
0
0.0
tv
eye 0
favorite 0
quote 0
and the ceo, pat gelsinger, is trying to right the ship, but it's happening way too slow..i. pc chip, it is selling well, they're just not realizing profits fast enough because they cost so much to develop. stuart: 27% on the downside, intel at $2211 is a -- $211 a share. -- 21 a share. the chip makers had a huge rally a couple of days ago. lauren: nvidia's off 5.5%. super micro down 8 -- yeah, intel, 27%. so, yeah, this is an ugly story. typically, how nvidia goes is how the market goes because it's a $3 trillion plus company, and it's such a big part of the s&p 500 and the nasdaq. it's going with the market odd to. stuart: now, because it looks like we've got a slowing economy, the price of oil has come down. last time we checked it was $74 a barrel. oil companies reported before the start of trading today. start with exxon. they're the up even though oil's down several bucks. lauren: yes. hay bought pioneer natural resources. they have record production in the permian basin, also in guy january a. that profits over $9 billion, stronger than expected, and they raised the
and the ceo, pat gelsinger, is trying to right the ship, but it's happening way too slow..i. pc chip, it is selling well, they're just not realizing profits fast enough because they cost so much to develop. stuart: 27% on the downside, intel at $2211 is a -- $211 a share. -- 21 a share. the chip makers had a huge rally a couple of days ago. lauren: nvidia's off 5.5%. super micro down 8 -- yeah, intel, 27%. so, yeah, this is an ugly story. typically, how nvidia goes is how the market goes...
0
0.0
Aug 12, 2024
08/24
by
FBC
tv
eye 0
favorite 0
quote 0
i do take solace from the fact that pat gelsinger putting close to a million dollars of his own money in the stock below 20 where we are now, he does not do that for his health. i think there's also an opportunity to break up the company and you could have your computing group in your foundry group and some of the parts worth more than the hall. liz: annual high of $51 we write 19 and boeing would also fit into that. we have to run but it's great to have both of you, david and kenny, thank you so much for your trader vision. starbucks is getting all frumpy at this hour stating taught at the nasdaq. the activist investor giving it can jolt to the stock. we're going to fill you in on that and show you the price action, tomorrow's 3:00 p.m. lineup is one you do not want to miss. internet stock guru mark mahaney aveva core isi is going to teach us how to calculate our oai return on a.i. investments. in a huge weakened retail earnings, home depot before the bell, walmart thursday, sw retail advisor stacey widlitz knows all about these names, she's getting give us her topics in the area. we
i do take solace from the fact that pat gelsinger putting close to a million dollars of his own money in the stock below 20 where we are now, he does not do that for his health. i think there's also an opportunity to break up the company and you could have your computing group in your foundry group and some of the parts worth more than the hall. liz: annual high of $51 we write 19 and boeing would also fit into that. we have to run but it's great to have both of you, david and kenny, thank you...
0
0.0
Aug 13, 2024
08/24
by
CNBC
tv
eye 0
favorite 0
quote 0
. >> wasn't it activists that got gelsinger in there a few years ago, or -- i think elliott was in there, maybe a couple others. so, it doesn't mean that these activists are always right, you know what i mean? >> well, that's a great point. i'd say, at starbucks, i think the environment was so ripe for activists. not only did you have one activist, but you have the ceo x emeritus, howard schultz is ready to do anything, other than this current management team. it was so ready for someone to tip the apple cart in favor of a change. niccol is a rock star. let's be really clear. if you could grab somebody, that's why this headline is so powerful. >> right. try to pull the rip cord, right? immediately afterwards. and intel gets a new ceo, stock's going to pop and any activist in there, going to also pull the rip cord. >> i wonder if you saw activists do this sort of stuff, if it draws maybe some strategic buyers of some of these assets. because activism is really a bull market activity. you don't really see it when you're in a bear market, that sort of thing, but again, you know, we might st
. >> wasn't it activists that got gelsinger in there a few years ago, or -- i think elliott was in there, maybe a couple others. so, it doesn't mean that these activists are always right, you know what i mean? >> well, that's a great point. i'd say, at starbucks, i think the environment was so ripe for activists. not only did you have one activist, but you have the ceo x emeritus, howard schultz is ready to do anything, other than this current management team. it was so ready for...
0
0.0
Aug 30, 2024
08/24
by
FBC
tv
eye 0
favorite 0
quote 0
it's in the middle of this turn-around under ceo pat gelsinger that, quite frankly, isn't working despiteey've been getting. bloomberg is reporting heir evaluating their strategy. they're going to do something to change share price being down 60% this year. they could scrap factory projects, they could split their design of those chips from the manufacturing of them. they could sell their foundry business. but this is, no doubt, the toughest period in their 56-year history. we've talked about the job cuts, the poor if earnings report. they're suspending their dividend. stuart: okay. lululemon. they've been under a great deal of pressure recently. they missed on sales, cut their guidance. i guess that's why the stock -- but it's only down a frank. lauren: and it had been higher because the bad numbers are baked in. the stock's been cut in half this year. the problem is they got boring, you know? women go into store, men too, but they see leggings in the same old colors, no new patterns, nothing to get excited about, and management acknowledged that. then they came out with a new legging, i
it's in the middle of this turn-around under ceo pat gelsinger that, quite frankly, isn't working despiteey've been getting. bloomberg is reporting heir evaluating their strategy. they're going to do something to change share price being down 60% this year. they could scrap factory projects, they could split their design of those chips from the manufacturing of them. they could sell their foundry business. but this is, no doubt, the toughest period in their 56-year history. we've talked about...
0
0.0
Aug 2, 2024
08/24
by
CNBC
tv
eye 0
favorite 0
quote 0
jon fortt sat down with pat gelsinger and asked him about what is ahead. >> fundamentally, the four areas of our business we're not changing any of those. a foundry, our client nooetworkg and data center business, but within each one, we're looking at the portfolio of things and which ones are getting good financial return and which don't have as good a market or financial opportunity in the future. >> all right. joining us is stacy rascon, senior analyst at bernstein research. stacy, you're a straight shooter. you put it in your note. you said in your note, i don't have it at the top of my head, something to the effect of, we may have to start having going concern comments -- >> no. not quite. >> no? can you clarify that? it's getting a lot of attention. >> what i said was, in some other like environment we would probably be having those conversations. like -- >> okay. not intel. want to be clear. it's gotten attention. >> so, what i wrote was in other circumstances we would be having those conversations. however f the one silver lining in from -- i think intel will live through. i don't
jon fortt sat down with pat gelsinger and asked him about what is ahead. >> fundamentally, the four areas of our business we're not changing any of those. a foundry, our client nooetworkg and data center business, but within each one, we're looking at the portfolio of things and which ones are getting good financial return and which don't have as good a market or financial opportunity in the future. >> all right. joining us is stacy rascon, senior analyst at bernstein research....
0
0.0
Aug 30, 2024
08/24
by
BLOOMBERG
tv
eye 0
favorite 0
quote 0
lisa: pat gelsinger has been trying to lean into a host of different efforts, including this foundry.t mostly makes chips or it will only make chips for intel. it will not necessarily be the foundry to the world the way you would like it to be. this is sort of the existential question, can you turn it around at a time when there are technological advancements and the big are getting bigger and more entrenched in the business? to see how they offset the weakness they have seen will be interesting. jonathan: two points, one, spoke all day yesterday about nvidia and i don't think intel came out of my mouth once, that's the problem for intel. two, the word specialization is really big right now. nvidia specializes in design, tsmc, fabrication. what intel specializes in is not what we are trying to address. lisa: essentially, how did they get into the ai world with that high-tech specificity? how do you get a lot of the talent to do it? there is a whole machine in place in taiwan to train people how to work at tsmc and produce the chips that have fueled the ai revolution dan ives talked ab
lisa: pat gelsinger has been trying to lean into a host of different efforts, including this foundry.t mostly makes chips or it will only make chips for intel. it will not necessarily be the foundry to the world the way you would like it to be. this is sort of the existential question, can you turn it around at a time when there are technological advancements and the big are getting bigger and more entrenched in the business? to see how they offset the weakness they have seen will be...