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Key Takeaways
A late-Friday report that Qualcomm lately made a “takeover strategy” to Intel despatched the latter firm’s shares increased.
Buyers in Intel have learn a raft of reviews about potential M&A exercise this week, with the corporate seemingly taking some choices off the desk.
Intel shares have misplaced greater than half their worth for the reason that begin of the yr amid issues in regards to the chipmaker’s skill to show across the enterprise.
Shares of chipmaker Intel (INTC) popped in prolonged buying and selling Friday, pulled increased by a report that Qualcomm (QCOM) had made a “takeover strategy.”
The story in The Wall Avenue Journal, citing individuals conversant in the matter, mentioned Qualcomm lately made a takeover strategy to Intel. The information despatched Intel’s replenish about 4%. Qualcomm’s was little modified, after falling shut to three% within the common session.
Buyers have in latest weeks thought of a raft of tales about potential deal exercise involving Intel, with Wall Avenue in search of indicators that the corporate is likely to be on a path to elevating recent capital or shoring up its companies. The corporate this week, in the meantime, up to date buyers about its strategic plans and mentioned a sale of its stake in Mobileye (MBLY) was off the desk.
Qualcomm had been cited in a few of these Intel reviews. A takeover, nevertheless, could be notably dramatic: Intel’s market capitalization was lately about $90 billion.
Intel’s shares are down greater than 50% in 2024.
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