U.S. Stock Market News | Intel Surges Over 7.6% on Potential Spin-off or Sale of Manufacturing Business
Intel's stock price rose by more than 7.6% to $21.7, as it is in discussions with investment banks to explore options such as spinning off its foundry business, pausing or canceling certain projects to improve financial performance. The negotiations are still in the early stages and Intel has not taken any significant actions yet
According to ZhuoTong Finance, on Friday, Intel (INTC.US) saw its stock price rise, with the stock up over 7.6% to $21.7 at the time of publication. Informed sources revealed that Intel is currently working with investment banks to discuss various options, such as splitting its product design and manufacturing business, as well as pausing or canceling some projects, in order to improve the company's financial performance. It is emphasized that the negotiations are still in the early stages, and Intel has not taken any significant actions yet