Intel's (INTC) investors awake to some shocking news. CEO Brian Krzanich has resigned due to a past relationship with an Intel employee. CFO Bob Swan has assumed the role as interim CEO.
Swan's appointment could mean shareholder friendly changes at Intel.
"In our discussions with investors involved in the name, and in line with our views on activist opportunities, cost rationalization potential and portfolio rationalization potential at Intel, we gather Bob is considered a strong lever and is viewed as the one who could make things happen and engage in a constructive dialogue with investors on these fronts," said analysts at New Street Research.
TheStreet looks at why Intel shares popped on the news.