Intel Ousts CEO Bob Swan
VMware chief Pat Gelsinger named as successor after hedge fund Third Point called for sweeping change at the semiconductor giant The tech battle between the U.S. and China has battered TikTok and Huawei and startled American companies that produce and sell in China. WSJ explains how Beijing is pouring money into high-tech chips as it wants to become self-sufficient. Video/Illustration: George Downs/The Wall Street Journal By Updated Jan. 13, 2021 4:25 pm ET Intel Corp. ousted its chief executive in a surprise move that pivots the semiconductor giant closer to its engineering roots after a period of technology missteps, market-share losses and pressure from a hedge fund.
Jan. 13, 2021 8:00 am ET
Mobile-phone chip giant Qualcomm Inc. QCOM 2.09% said Wednesday that it has agreed to acquire a chip startup founded by former Apple Inc. engineers, adding to a wave of deals remaking the semiconductor industry.
Qualcomm said it plans to buy Nuvia Inc. and use the two-year-old company’s technology in its flagship smartphones, driver-assistance systems, laptops and networking infrastructure. The proposed all-cash transaction is valued at about $1.4 billion, Qualcomm said, before working capital and other adjustments.
Nuvia’s expertise in designing central processing units, Qualcomm said, would help it boost chip performance and power efficiency characteristics that are vital to success in the hot 5G-networking market that Qualcomm has made a priority.
Futures on the
S&P 500 was indicated to open 0.25% lower and the
Nasdaq Composite was poised for a slide of 0.2%.
Although U.S. government spending has been highly supportive of the economy and there could be more stimulus on the way because Democrats control both the House and the Senate, the distributions of vaccines has been behind schedule.
As a result, investors are taking some chips off the table, especially because the market was hot to start the new year. Companies on the major U.S. indexes see a significant portion of revenue from overseas.
Here are some notable movers:
EE 5G to deliver BBC Green Planet augmented reality experience
Increased 5G network capacity will enable AR experience for landmark BBC series using holographic video to explore the world from the perspective of plants
Share this item with your network: By Published: 13 Jan 2021 12:16
Six of the world’s leading creative, technology and scientific organisations have formed a consortium to create new experiences inspired by the forthcoming BBC Studios Natural History Unit landmark series
The Green Planet, presented by Sir David Attenborough.
Billed as a version of legendary BBC natural history series
He meets the largest living things that have ever existed, trees that care for each other, and plants that breed so quickly that they could cover the planet in a matter of months. He also finds time-travellers – seeds that can outlive civilisations, and plants that remain unchanged for decades – and examines people’s relationship with plants, past, present and futur
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At a virtual meeting with analysts, Zscaler gave investors reason to feel renewed enthusiasm for the stock. Dreamstime
Zscaler shares traded higher Tuesday just one day after the security software company hosted an apparently well-received virtual meeting with analysts.
The company did not update its financial outlook at the meeting but it gave investors reason to feel renewed enthusiasm for the stock. At least four analysts raised their target prices for Zscaler shares (ticker: ZS) following the meeting.
Credit Suisse analyst Brad Zelnick repeated his Outperform rating, upping his price target to $215 from $175. Zelnick wrote that the meeting gave him “even more conviction around both the size of [the company’s] opportunity and ability to execute against it.” He said the company is well positioned in an area called “zero trust” security architectures, an approach that requires all users even those inside the n