Stock market quotes, forex, financial news, forex tools –

Brian Krzhanich got rid of shareholding in Intel after detection of problems with chips

 Breaking News
  • Germany saves Lufthansa An air carrier Deutsche Lufthansa AG has suffered losses because of the spread of the coronavirus pandemic. It became known that the German government had not left the matter unattended...
  • Israel economy sets anti-records Israel is a recognized high-tech paradise, a stable and strong platform for business development. However, the economy of the country in the Middle East has failed to resist the consequences...
  • A car rental service Hertz went bankrupt Hertz, the largest US car rental company, has filed for bankruptcy. The company was founded already in 1918. For a hundred years, Hertz has coped with the Great Depression, the...
  • Monday starts with the growth of oil prices The energy market started today’s trading session with the steady growth. Quotes are increasing on the signals about the recovery in demand and a decrease in production in the States....
  • Nissan plans deep cuts due to the crisis A Japanese auto giant Nissan Motor Co. is experiencing a deep crisis provoked by the spread of the coronavirus pandemic. Amid a sharp decline in demand for its products, Nissan...
Brian Krzhanich got rid of shareholding in Intel after detection of problems with chips
January 05
09:00 2018

The story began with the fact that experts from Google Project Zero doubted the security of Intel’s microprocessors. Because of the detected shortcomings, hackers are able to take out any data from any computer built on the basis of this microprocessor. By the way, there have been no real cases of data leakage due to this problem. The New York Times published research data that claims that the problem could be eliminated, but the operation of computers would slow down by almost a third.

The problems have been identified not only in chips produced by Intel, but also in AMD microprocessors.
The general public knew about the problems with the security of microprocessors a couple of days ago.

Both Intel Corporation and AMR did not deny the existence of problems. The largest companies in the high-tech sector are currently offering their clients temporary “patches” to eliminate the problem identified.

An interesting fact came out: in November last year, Intel Chief Executive Officer Brian Krzhanich sold a personal block of shares of the company he headed. It happened after he became aware of a serious defect in microprocessors.
Of course, the press service of Intel Corporation made a statement that Krzhanich’s decision to get rid of assets had not been related to the problem identified.

Available data of the United States Securities and Exchange Commission (SEC) show that the chief executive officer of Intel sold 644 thousand shares at the end of November at an average weighted price of 44.05 US dollars per share.

In addition, he sold another 245.7 thousand shares at an average weighted price of $ 44.55 per share.
As a result of the transactions, Brian Krzhanich got $ 25 million in cash.

Both these factors: the sale of shares and identified security problems will certainly affect the shares of Intel, causing a drop in quotations.

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

Related Articles


No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment