Diamonds and Dogs
Good news for Intel (INTC) is bad news for VMWare Inc. Intel jumped 6% today, one of its best days in years, as the chip company announced they will hire VMWare's CEO, Pat Gelsinger to replace Bob Swan who is stepping down. Intel is calling Mr. Gelsinger a proven technology leader with a distinguished track record of innovation, talent development, and a deep knowledge of Intel where he once worked.
VMWare (VMW) fell 6% as Gelsinger's departure could complicate Dell Technologies' plans to spin-off VMWare, in which it holds an 81% controlling stake.
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