Microsoft Might Need More Than a CEO Change and 2 Other Dow Movers to Watch
Microsoft Corp. (NASDAQ:MSFT): Current price $33.41
Analysts at Argus on Friday wrote in an investor note that Microsoft needs something more than a CEO change to overcome its current difficulties; placing someone new as chief executive will not solve all of Microsoft’s problems, Argus argued. Beyond that, the firm said “systemic weakness” at the firm is preventing it from getting past the challenges it is facing, and that Microsoft’s best bet would be to recruit an outsider with a large amount of tech expertise as its new CEO.
Chevron Corp. (NYSE:CVX): Current price $120.77
The state-run energy firm YPF SA says that Chevron Corp. will invest in shale oil and natural gas fields in Argentina by bringing dollars there and exchanging them at the country’s official rate. YPF Chief Executive Officer Miguel Galuccio, speaking Thursday at a presentation of the $1.24 billion shale partnership with Chevron, said the latter will not use pesos held in Argentina to fund the investment.
Intel Corp. (NASDAQ:INTC): Current price $22.00
Argus on Friday upgraded Intel from Hold to Buy in light of new smartphone and tablet products having advantage in terms of size and performance, adding that the devices are more competitive because of ARM-based chips. The price target is maintained at $28.