Why Intel Stock Popped Today [Yahoo! Finance]
Intel Corporation (INTC)
Last intel corporation earnings: 4/23 04:07 pm
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Source: Yahoo! Finance
After shares surged earlier this week on a partnership with Amazon and a $3 billion contract with the Defense Department, they jumped again late Friday on reports that Qualcomm (NASDAQ: QCOM) had approached its rival about a possible takeover, showing the struggling semiconductor company could be in play. Intel stock closed up 3.3% on the news, after jumping as much as 9.5% when the story first broke. Qualcomm closed down 2.9% after sinking 6% earlier, showing Qualcomm investors didn't like the idea of a tie-up between the two chip giants. Could Qualcomm buy Intel? Just before markets closed, The Wall Street Journal reported that Qualcomm had approached Intel about an acquisition in recent days. Such a deal, if it passed regulatory muster, would be one of the biggest in the history of the tech industry. The news took investors by surprise, as Intel was not said to be seeking "strategic options" such as a buyout and is working on a massive restructuring that includes laying off
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