Intel May Be `Dead Money' as Wall Street Awaits CEO Successor

Intel Corp.’s removal of Brian Krzanich as chief executive isn’t being greeted well by investors, who drove down the stock by as much as 2.2 percent intraday. The chipmaker "could be dead money until we get clarity on who the new CEO will be," Evercore ISI analyst C.J. Muse writes in a note.

Bank of America sees the executive changeover as a distraction, especially as Intel previewed its second-quarter results with record sales of about $16.9 billion. Analyst Vivek Arya says Krzanich’s resignation is a "fresh start opportunity" to attract outside talent, though chief financial officer Robert Swan will step up in the interim.