On the heels of Intel CEO buying the company’s stock, the chip giant’s newest director also scooped up shares. Lip-Bu Tan, who joined Intel’s (ticker: INTC) board on Sept. 1, paid $1.35 million on Nov. 8 for 48,146 shares, an average price of $27.98 per share, according to filing with the Securities and Exchange Commission. … Read more
Underwriters have a 30-day option to purchase up to an additional 6.15M common shares. The significant portion of net proceeds of ~$0.8B will be used for repayment on a note owed to its parent company, Intel and the remaining for working capital and general corporate purposes. The self driving unit will raise additional $100M through … Read more
Intel’s Mobileye priced its initial public offering on Tuesday above its target range, valuing the autonomous driving company at almost $17bn in a rare positive development for the US listings market. The company sold 41mn shares for $21 per share, said a person familiar with the situation, having previously outlined a price target of between … Read more
Intel disclosed on Tuesday that it is targeting a maximum valuation of less than $16bn for the initial public offering of its Mobileye autonomous driving unit, as Wall Street continues to recoil from retreating tech stocks and other recently listed companies’ weak performance. Mobileye hopes to sell its shares for $18-$20 apiece, giving it a … Read more
Intel’s new deal with Brookfield primarily means two things: The chip giant is lowering its build out cost for a shiny fresh factory, and its dividend is safe for the time being. Intel announced on Tuesday that it would team with Brookfield to jointly invest up to $30 billion in the new Arizona a semiconductor … Read more
What a disaster. We’re talking about Intel (INTC) June-quarter results. The company not only delivered a disappointing quarter but reset its 2022 guidance meaningfully lower, putting its shares under pressure Friday. For the current quarter, the chip company now sees earnings of $0.35 per share vs. the $0.84 consensus. It is now guiding for third-quarter … Read more
After a disastrous earnings report from Intel Corp. that acknowledged a big drop in data-center sales and internal mistakes, Advanced Micro Devices Inc. is expected up to show off exactly the opposite. Not only did Intel report a 16% drop in sales to $4.6 billion in data-center sales, Chief Executive Pat Gelsinger reminded analysts he … Read more
Text size Slowing demand for PCs is bad news for Intel. David Paul Morris/Bloomberg Intel ’s second-quarter earnings fell far short of expectations and the company provided a bleak outlook for the current quarter, hammering the stock. Management of the chip maker blamed a deteriorating macroeconomic environment but said some of its woes were self-inflicted. … Read more