Intel to cut 12000 jobs as it pivots from PCs
Intel announces a 12,000 job reduction about 11 percent of its workforce amid weaker first quarter PC sales. CEO Brian Krzanich frames the cuts as needed to shift from PCs to cloud computing data centers wearables drones and connected devices. Most layoffs occur over 60 days as campuses in Portland Chandler Rio Rancho Santa Clara Folsom and other sites are affected.
MENTIONED IN THIS ARTICLE
San Francisco
Intel
Brian Krzanich
Patrick Moorhead
Moor Insights & Strategy
Krzanich
Portland
Ore
Chandler
Ariz
Rio Rancho
N.M
Santa Clara
Folsom
Calif
Mixed U S stocks rise on energy, earnings but Nasdaq drags
U S equity markets closed modestly higher with gains led by energy mining and financial names as oil and copper prices advance. The Nasdaq eased on tech declines from Netflix and IBM while investors focus on guidance and profit growth prospects.
MENTIONED IN THIS ARTICLE
U.S
Standard & Poor
Netflix
IBM
Quincy Krosby
Prudential Financial
McDonald's Franchise Survey Boosts U.S. Sales Outlook
Nomura analyst Mark Kalinowski lifts first quarter US same store sales forecast to 4.6 percent after surveying 26 McDonald’s franchisees operating 185 locations. The poll shows Northeast optimism and central region caution as momentum may ease to 3.7 percent in Q2.
MENTIONED IN THIS ARTICLE
Chicago
Wall Street
McDonald's
Mark Kalinowski
Nomura Securities
McDonald’s
U.S
Kalinowski
Nomura
Northeast
McDonald’s Tests Grand Mac and Mac Jr in Columbus Area
McDonald’s is trialing a Grand Mac with two third pound beef patties and a Mac Jr a single layer Big Mac in central Ohio and Dallas arenas. The Grand Mac is priced at 4.89 and the Mac Jr at 2.39 to 2.59 as the chain gauges consumer interest before a potential national rollout.
MENTIONED IN THIS ARTICLE
New York
McDonald's
Ohio
Dallas
Columbus
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GreenlAcr, Park & Swa
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Iamlaceksa
Tonoces Opr
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