The Dow Jones Industrial average (DJINDICES:^DJI) was up modestly via the use of late Monday morning, having received 0.21% at eleven:45 a.m. EDT. Senate Republicans are expected to unveil a new $1 trillion stimulus plan on Monday so to reportedly embody a diminished supplemental unemployment advantage and a 2nd round of direct money to many american citizens.
Working against the Dow on Monday had been Intel (NASDAQ:INTC) and Walgreens Boots Alliance (NASDAQ:WBA). Intel has reportedly positioned an immense order with 0.33-celebration foundry Taiwan Semiconductor Manufacturing, marking a that you can think of sea change within the semiconductor change. within the meantime, Walgreens has offered that its CEO has determined to step down.
Dow Jones good factors as Intel Reportedly places Order With TSMC …
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Intel reportedly places order with TSMC
Chip large Intel upset buyers ultimate week when it disclosed in its 2nd-quarter income report that chips in keeping with its 7nm manufacturing route of were at the back of time table. the company has struggled for years getting its 10nm course of prepared for mass manufacturing — Intel continues to be launching mainstream pc chips built on its 14nm process.
Dow Jones a good suggestion residences as Intel Reportedly locations Order With TSMC …
throughout the income name, Intel CEO Bob Swan dropped a bombshell: the corporate was once making an allowance for outsourcing manufacturing to third-party foundries if it made experience to take motion. “for instance, our information center GPU design, Ponte Vecchio, will now be released in late 2021 or early 2022, applying exterior and inside process applied sciences, blended with our world-top packaging applied sciences,” Swan stated.
On Monday, Taiwan-based totally newspaper business occasions said that Intel had placed a massive order with TSMC for 6nm chips. The order is reportedly for one hundred eighty,000 wafers, roughly the identical dimension order as that placed by way of rival developed Micro devices. TSMC’s best-facet capability is now reportedly absolutely booked for the main half of of 2021.
Intel isn’t going to surrender on in-home manufacturing totally, like AMD did in 2009 when it spun off its manufacturing industry as GlobalFoundries. on the other hand given the power problems Intel has had with its process expertise, outsourcing at least some production would allow it to care for p.c with its rivals.
Shares of Intel were down about zero.4% by the use of late Monday morning, whereas TSMC stock was once up greater than 10%.
Walgreens CEO steps down
Walgreens has been hit onerous by means of the COVID-19 pandemic. within the fiscal 1/3 quarter, which resulted in may, the pharmacy chain pronounced an running lack of $1.6 billion. That loss was once pushed by way of using vulnerable gross sales, a shift towards lower-margin merchandise, and a big write-off related to the U.k. trade.
On Monday, the corporate introduced a administration shake-up. Stefano Pessina has knowledgeable the board of directors that he’ll be stepping down as CEO. as soon as the board decides on a new CEO, Pessina will take over as govt chairman.
This switch comes after years of underperformance for the inventory. Even before the pandemic, shares of Walgreens have been trending lower. whilst you believe that peaking in 2015, Walgreens inventory is down about 60%. so far this year, the inventory has shed roughly 33%.
information of the CEO’s resignation was once not smartly received by the use of the stock market, with shares of Walgreens down about 2.1% by way of late Monday morning.