Intel Pops, VMWare Drops (For The Same Reason)
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 13 January 2021
⏱️ 16 minutes
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Summary
Investors react as Intel CEO Bob Swan resigns and VMWare CEO Pat Gelsinger gets ready to take his place. Shares of KB Home rise as 4th-quarter results (and 2021 guidance) come in higher than expected. Bill Barker analyzes those stories and the holiday sales results from Target and Urban Outfitters.
Transcript
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| 0:00.0 | It's Wednesday, January 13th. |
| 0:04.3 | Welcome to Market Foolry. |
| 0:05.7 | I'm Chris Hill with me today. |
| 0:07.7 | It's Bill Barker. |
| 0:08.6 | Thanks for being here. |
| 0:09.5 | Thanks for having me. |
| 0:11.0 | We've got holiday retail numbers starting to come out. We've got some housing news. |
| 0:16.0 | We're going to start with some surprising news from Intel. |
| 0:20.0 | CEO Bob Swan is stepping down in mid-February. |
| 0:24.4 | In June of 2018, he was appointed interim CEO of Intel. |
| 0:28.5 | In late January of 2019, the interim tag was removed but suffice to say Swan has faced a number of |
| 0:36.2 | challenges over the ensuing two years and he is on his way out. |
| 0:40.8 | Moving into the corner office is Pat Gelsinger, who is currently the CEO of |
| 0:47.0 | VMware and for anyone wondering what the investing world thinks of all of these moves, |
| 0:53.2 | shares of VMware down 6% this morning |
| 0:56.3 | and shares of Intel up 8%. |
| 0:58.5 | Yeah, so you've got Gelsinger who previously |
| 1:01.9 | had been at Intel as the chief technology officer and of course |
| 1:06.7 | Swan came up and was promoted to interim and then permanent CEO having been the |
| 1:11.6 | CFO so I think one of the takeaways that one can take here |
| 1:18.0 | is that this is perceived to be a technology issue and the solution comes into comes from technology, not from financial expertise. |
| 1:30.0 | I don't think there's any accusations that Swan wasn't getting the job done from, you know, |
... |
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