Good Morning. This is the Investor Lookout with the daily digest.

Here’s what we got today:

• 🖥️ Intel's CEO Departure Raises Questions About Foundry Future

• 🤖 Super Micro Stock Soars 29% Following Investigation Results

Intel's CEO Departure Raises Questions About Foundry Future

Intel just redesigned its leadership architecture. Intel ($INTC) announced an immediate management change as CEO Pat Gelsinger is out after less than four years. The company announced that Chief Financial Officer David Zinsner will be co-CEO, along with Michelle Johnston Holthaus, who will also be the CEO of the newly created products unit. During Gelsinger's tenure, Intel's stock dropped 61% and has been removed from the Dow Jones Industrial Average. The future of its manufacturing unit is under question, as the board is signaling a shift toward prioritizing the products group. 

• Intel closed down 0.5% after the news, reversing an initial 5.9% uptick

• The company has largely missed out on the artificial intelligence trend, conceding earlier this year that it wouldn't meet its AI revenue target for the year

Super Micro Stock Soars 29% Following Investigation Results

Super Micro's integrity check came out clean. Super Micro's ($SMCI) shares jumped 29% after a special committee found no evidence of misconduct by Super Micro's senior management. The company announced that the special committee report recommended replacing its current CFO, David Weigand, and they are in the process of doing so. The artificial intelligence server maker appointed Kenneth Cheung, currently vice president of Finance, as accounting chief. The company's stock is still down 65% from its March high, although it is still up 48% for the year. 

• SMCI faces a potential delisting from Nasdaq as a result of delayed financial reports

• The special committee consisted of a team from forensic accounting firm Secretariat Advisors, a member of Super Micro's board, and counsel from Cooley LLP

Markets

China bonds rally with 10-year yield hitting a multi-decade low on rate cut expectations. China's 10-year yield dropped below the key psychological level of 2% to mark a multi-decade low. [Read]

Coinbase policy chief expects speedy approval of crypto laws following Trump's victory. Faryar Shirzad, chief policy officer at Coinbase ($COIN), said he sees crypto legislation working up through Congress "fairly quickly" following Trump's presidential win. [Read]

Fed's Powell may have made US monetary policy boring again. Fed officials now see inflation pressures remaining more elevated than before the pandemic, with rates lodged far enough above zero that they can achieve their goals by raising and lowering them. [Read]

Business

Bowlero to Rebrand to Lucky Strike as It Buys More Entertainment Venues. America's biggest bowling alley operator is formally rebranding to Lucky Strike Entertainment ($BOWL) as it expands into family entertainment centers and water parks. [Read]

Sanofi announces its biggest China investment deal amid China-EU trade tensions. Sanofi ($SAN) plans to invest around $1.05 billion to build a new insulin production base in Beijing, marking the company's biggest investment in China. [Read]

Elon Musk's Massive Tesla Pay Package Struck Down By Judge—Again. A judge in Delaware rejected Musk's record $50 billion Tesla ($TSLA) pay package for a second time. [Read]

Keep Some Of Your Portfolio Defensive. "If investing is entertaining, if you're having fun, you're probably not making any money. Good investing is boring." — George Soros

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.