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PayPal shares sink after CEO exit and weak 2026 profit outlook

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Shares of PayPal plunged after the company replaced CEO Alex Chriss and issued a disappointing profit outlook for 2026, rattling investors and raising fresh doubts about its turnaround strategy. The board named Enrique Lores, currently head of HP, as the new president and chief executive, saying the pace of change under Chriss fell short of expectations.

PayPal said Chief Financial Officer Jamie Miller will serve as interim CEO until Lores takes over on March 1. The abrupt leadership change came alongside a forecast that adjusted profit next year could range from a slight decline to modest growth, well below Wall Street expectations. Analysts said the combination of a sudden CEO exit and a muted outlook suggests deeper challenges in reviving growth.

The company continues to face pressure from slowing retail spending and intensifying competition from Big Tech and newer fintech rivals. PayPal also reported quarterly revenue and profit below estimates, while growth in its higher-margin branded checkout business slowed sharply, adding to concerns about its core payments franchise.

Intel’s Quarterly Revenue Tops Expectations, Investors Await New CEO

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Intel (INTC.O) reported better-than-expected results for its December quarter on Thursday, surpassing analysts’ low estimates. However, the chipmaker’s forecast for the upcoming quarter fell short, as it faces weak demand for its data center chips. Investors are also awaiting clarity on Intel’s leadership following the ousting of former CEO Pat Gelsinger last month. Currently, two interim co-CEOs are at the helm of the company, which has struggled to compete with rivals like Nvidia (NVDA.O), particularly in the AI chip market.

The quarterly results were overshadowed by concerns about Intel’s long-term strategy and leadership transition. Despite this, the company’s shares rose by 3.8% in after-hours trading, a relief after a challenging year where Intel’s stock lost around 60% of its value.

Intel’s struggle to capitalize on the booming AI market was evident when Co-interim CEO Michelle Johnston Holthaus announced that the company would shelve its upcoming graphics processing unit (GPU) design, Falcon Shores. Instead, Intel plans to use the chip internally as a test product, with a focus on future data center AI chips.

For the first quarter, Intel projected revenue between $11.7 billion and $12.7 billion, below analysts’ average estimate of $12.87 billion. The company cited “normal seasonality” and potential tariffs under the Biden administration as factors contributing to its cautious outlook. According to CFO David Zinsner, the possibility of tariffs may have prompted some customers to buy Intel’s chips ahead of potential price increases.

Intel’s ongoing transition includes a focus on becoming a contract chip manufacturer for other companies, but this shift has raised concerns among investors about its cash flow. Last year, Intel abandoned its forecast of selling over $500 million worth of its new AI chips, Gaudi, which struggled to compete with Nvidia’s products.

For the upcoming quarter, Intel forecasted break-even adjusted per-share earnings, while analysts expected adjusted profits of 9 cents per share. The company has received federal grants under the CHIPS Act, which helped boost its revenue and profit margins for the fourth quarter.

In the personal computer market, which remains Intel’s largest revenue segment, global shipments grew only modestly last year, missing analysts’ expectations for a stronger rebound. Intel has also been losing market share in both the PC and server CPU sectors to competitor AMD (AMD.O), a trend expected to continue into 2025.

 

Tenable CEO Amit Yoran Dies After Battle with Cancer

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Amit Yoran, the chairman and CEO of cybersecurity firm Tenable Holdings, passed away on Friday after a battle with cancer, as confirmed by the company on Saturday. Yoran, who was 54, joined Tenable as CEO in 2016 and played a pivotal role in the company’s growth, including leading its successful initial public offering (IPO) in 2018.

Following his death, Tenable announced that the company would continue to operate under the leadership of Chief Financial Officer Steve Vintz and Chief Operating Officer Mark Thurmond, who had been appointed as co-CEOs when Yoran took a medical leave in December of the previous year. Art Coviello, Tenable’s lead independent director, will now take over as the chair of the company’s board.

Yoran’s career was defined by his significant leadership roles within the cybersecurity industry. Before joining Tenable, he served as president of Dell Technologies’ RSA cybersecurity unit and was the founding director of the United States Computer Emergency Readiness Team (US-CERT) at the U.S. Department of Homeland Security, where he worked to protect the country from cyber threats.

Tenable, headquartered in Columbia, Maryland, competes with companies such as Crowdstrike, Qualys, and Rapid7 in providing software solutions that help businesses and government agencies monitor their networks for security vulnerabilities and detect potential cyberattacks.