Intel’s Stock Rises On Takeover Speculation
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Shares of Intel (INTC) rose by 7% following reports that Qualcomm (QCOM) is interested in acquiring the microchip developer. The Wall Street Journal cited sources claiming Qualcomm has approached Intel about a potential takeover. Despite this speculation, Intel has faced challenges, including disappointing financial results, job cuts of 15,000, and a suspended dividend. Intel's stock has declined 55% this year, while Qualcomm's stock has increased by 20%.
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