Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street.

Good Friday morning. Welcome to Squawk on the Street. I'm Carl Kington, with Jim Kramer at the New York Stock Exchange.

David Faber has the morning off. Pretty steady pre-market, despite that historically bad quarter and guide from Intel last night.

Meantime, the data today, fairly constructive core PCE, the Fed's preferred measure of inflation, the slowest annual rise in a year and a half.

VIX is below 19.

Our roadmap begins with Intel's no good, very bad quarter.

Pat Gelsinger saying the company has, quote, stumbled.

Plus, feeling the activist teed, Salesforce announcing the appointment of three new independent

directors, and then there's Chevron sinking ahead of the open, Salesforce announcing the appointment of three new independent directors,

and then there's Chevron sinking ahead of the open, missing on the bottom line, but record revenue,

and of course more color around the buyback. We're going to break down that quarter. Start with Intel,

though, tumbling after that fourth quarter miss and warning of a loss in the current quarter

as the company grapples with weakness in the PC market and slowing growth in data center.

Here's Pat Gelsinger's assessment of the quarter on last night's call.

We stumbled, right? We lost share. We lost momentum. We think that stabilizes this year.

And we're going to be building a roadmap that allows us to regain leadership

for the long long term in this critical market i don't miss an interview with gell singer later

this morning on tech check at 11 a m eastern time jim everybody's pointing to that gross margin

guide yeah well i reiterate he's one of the nicest people. I know. All right, so a couple

of some really some fabulous stuff here. From people who really aren't that funny,

Stacey Raskin-I comes on all the time, very poorly dressed from Bernstein. And he says,

we have written the phrase, worst earnings report in our history of covering this company

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