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Intel stock surges 7% on news CEO Bob Swan to be replaced by VMware's Pat Gelsinger

Intel, urged immediate change at the company.
Third Point CEO Daniel Loeb wrote to Intel chairman Omar Ishrak arguing that the U.S. will lose its leading-edge semiconductor supply if action isn t taken.
Shares of Intel are up over 7% Wednesday on news CEO Bob Swan will be replaced by VMware s Pat Gelsinger.
The surprise move comes after activist hedge fund Third Point LLC said immediate change is needed to reverse the semiconductor giant s fortunes.
Third Point CEO Daniel Loeb wrote to Intel chairman Omar Ishrak on December 29 urging immediate action to secure the company s role as a major provider of processor chips for PCs and data centers. ....

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Detailed text transcripts for TV channel - CNN - 20180113:23:32:00

When it comes to using iphones, the kids might not be all right. an activist hedge fund and teachers pension that together are among apple s biggest investors are now demanding that apple investigate the effects of digital technology on young people, saying it s a public health crisis. letter was sent to apple s board of directors by janan partners of the california state teachers retirement system which have $ billion combined invested in apple. it demands the company take active steps the same way it prides itself on inclusiveness, quality education, environmental protection and supplier responsibility. the letter cites data from igen, a book that i have said i found the most impactful of anything that i ve read recently. author dr. jean twenge s research found in 2012 the proportion of americans with ....

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