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Information Technology : Electronic Equipment, Instruments & Components | Mid Cap Blend
Company profile

II-VI Incorporated develops and manufactures engineered materials, optoelectronic components and products. The Company has three segments: II-VI Laser Solutions, II-VI Photonics and II-VI Performance Products. The II-VI Laser Solutions segment designs, manufactures and markets optical and electro-optical components and materials sold under the II-VI Infrared brand name and used in carbon dioxide (CO2) lasers, fiber-delivered beam delivery systems and processing tools and direct diode lasers for industrial lasers sold under the II-VI HIGHYAG and II-VI Laser Enterprise brand names. The II-VI Photonics segment manufactures crystal materials, optics, microchip lasers and opto-electronic modules for use in optical communication networks and other consumer and commercial applications. The II-VI Performance Products segment designs, manufactures and markets infrared optical components and high-precision optical assemblies for military, medical and commercial laser imaging applications.

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Intel stock surges after company replaces CEO Swan with VMware chief

9:53 am ET January 13, 2021 (MarketWatch)

By Emily Bary

Intel continues to face challenges as its next generation of chips has been delayed

Intel Corp. shares are surging in Wednesday morning trading after the company confirmed that Chief Executive Bob Swan will be stepping down and replaced by VMware Inc. Chief Executive Pat Gelsinger.

Intel's stock (INTC) is up nearly 9% Wednesday, while VMware shares are off 4%.

Swan officially took over the CEO post two years ago after serving in an interim capacity for seven months prior. His tenure as CEO ends Feb. 15.

Intel said that the announcement "is unrelated to Intel's 2020 financial performance" and that the company expects to exceed its fourth-quarter revenue and earnings guidance.

Swan oversaw a tumultuous period for Intel, as the company fell behind with its process technology. Intel admitted in July that its next generation of chips would be delayed and that the company might opt to work with a third party to manufacture them.

Intel shares have gained 7.7% over the past three months as the Dow Jones Industrial Average has added 8.4%.

-Emily Bary; 415-439-6400; AskNewswires@dowjones.com


(END) Dow Jones Newswires

January 13, 2021 09:53 ET (14:53 GMT)

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