Omnitracs Launches ‘Big Rig Buddies’ Contest
Intel CEO resigns after probe into relationship with employee
"An ongoing investigation by internal and external counsel has confirmed a violation of Intel's non-fraternization policy, which applies to all managers," Intel said in a statement. The board named Chief Financial Officer Robert Swan as interim CEO and said it has begun a search for a permanent CEO, including both internal and external candidates. Intel declined to give any further information about the probe.
Kroger profit beats as online investments pay off, shares soar
Under its "Restock Kroger" program, the supermarket chain has been cutting prices and experimenting with new ways of selling products, while also shutting underperforming stores and shifting away from areas where it does not have a strong presence. The U.S. grocery industry, dominated by Walmart Inc (WMT.N) and Kroger, has been fearful that Amazon.com Inc (AMZN.O) would apply its current distribution strategy at Whole Foods, transforming existing stores into a grocery delivery network. In response, Kroger has been expanding home delivery, curbside pickup and self-checkout services, apart from investing heavily in technology such as its recent deal with Ocado (OCDO.L) to speed up its delivery operations with the construction of robotically operated warehouses.
MARKETS: Intel CEO Brian Krzanich resigns over relationship scandal, chipmaker raises Q2 guidance
Yahoo Finance's Alexis Christoforous and Jared Blikre break down the latest market action after Intel CEO Brian Krzanich resigns after an investigation determined he had an inappropriate, consensual affair with an employee. In other news, the company also raised guidance for the second quarter. Here's the performance of the Dow Jones Industrial Average components as of 10:30 am ET: VZ Verizon Communications 1.62% PG Procter & Gamble Cc 0.90% AAPL Apple Inc 0.36% HD(HB) Home Depot Inc -0.04% JNJ Johnson & Johnson -0.08% V Visa Inc -0.07% UNH UnitedHealth Grp Inc -0.19% AXP American Express Co -0.19% IBM Intl Business Machines Corp -0.27% WMT Wal-Mart Stores -0.31% KO Coca-Cola Co -0.29% DIS Disney (Walt) Co -0.43% XOM Exxon Mobil -0.42% MSFT Microsoft Corp -0.44% TRV The Travelers Companies Inc -0.47% MRK Merck & Co -0.54% JPM JPMorgan Chase & Co -0.56% DWDP DowDuPont Inc -0.53% PFE Pfizer Inc -0.81% NKE Nike Inc Cl B -0.76% MCD McDonald's Corp -0.76% CSCO Cisco Systems -0.89% GS Goldman Sachs Grp -1.06% CVX Chevron Corporation -1.26% UTX United Technologies -1.40% BA Boeing Co -1.47% INTC Intel Corp -1.42% MMM 3M Co -1.59% GE General Electric Co -1.67% CAT Caterpillar Inc -2.22%
Wall Street falls as Amazon weighs, trade worries linger
Amazon declined 0.7 percent and was the top drag on the S&P and the Nasdaq. If U.S. President Donald Trump keeps exacerbating tensions over trade, Beijing could strike at members of the Dow Jones Industrial Average, state-controlled Chinese tabloid The Global Times said in a commentary. At 10:24 a.m. ET, the Dow Jones industrial average was down 175.91 points, or 0.71 percent, at 24,481.89, the S&P 500 was down 16.74 points, or 0.604917 percent, at 2,750.58 and the Nasdaq Composite was down 61.71 points, or 0.79 percent, at 7,719.81.
What CEO Brian Krzanich's departure means for Intel
CNBC's Jon Fortt weighs in on Intel CEO Brian Krzanich's resignation as a result of an internal probe on a consensual relationship.
Intel CEO out after consensual relationship with employee
Intel CEO Brian Krzanich has resigned after the company learned of what it called a consensual relationship with an employee. Intel said Thursday that the relationship was in violation of the company's non-fraternization policy, which applies to all managers. Chief Financial Officer Robert Swan will take over as interim CEO immediately.