Intel, US government
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The Trump administration is reportedly considering having the US government take a stake in Intel, a company that was once one of America’s most important tech giants but which has since fallen on hard times.
A breakup appears to be an option under consideration by Intel chairman Frank Yeary, who explored the idea before Tan was even hired, according to reporting by The Wall Street Journal. Tan seems to be resisting the idea of breaking off the company’s manufacturing business, but his ultimate stance remains unclear.
Just days ago, Trump called for Lip-Bu Tan’s firing. Now he’s praising the Intel CEO’s ‘amazing’ success story, suggesting that tensions are easing.
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Intel CEO to visit White House after Trump called for his ouster over alleged China ties: report
Intel CEO Lip-Bu Tan is scheduled to visit the White House on Monday following President Donald Trump’s call last week for his ouster over ties to China, according to a new report.
Shares of Intel ( INTC 3.73%) are soaring this week, up 24.1% as of 3:13 p.m. ET. The spike comes as the S&P 500 ( ^GSPC -0.22%) was up 1%, and the Nasdaq-100 was up 0.5%.
Intel CEO Lip-Bu Tan was due to visit the White House on Monday after U.S. President Donald Trump called for his removal last week, a source familiar with the matter said.
Lip-Bu Tan is set to meet with the president, who last week called for Tan’s removal.
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MarketBeat on MSNIntel's White House Reset: From Political Storm to a Clearer Sky
A multi-day rally for Intel Corporation (NASDAQ: INTC) this week has pushed shares back toward the $22 level, with a surge of over 5% on August 11 that continued to August 12. This newfound momentum in Intel’s stock price was not driven by a new product or an earnings beat.