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Markets · Investing · Business
Finance
Why Intel Stock Jumped 7.6% Today
A rumored SK Hynix partnership could give Intel's long-delayed Ohio factories a customer, but the talks are preliminary and the turnaround still has a long way to go.
Intel(NASDAQ: INTC) stock jumped roughly 7.6% on Thursday after news broke yesterday of a possible deal that would see SK Hynix's memory chips fabricated in Intel's Ohio factories.
The S&P 500 and the Nasdaq Composite rose 1.1% and 1.7%, respectively, on Thursday.
Details
Reuters reported on Sept. 16 that SK Hynix is discussing either leasing part of Intel's planned Ohio facility or forming a venture with Intel and others. The talks are exploratory, and no formal deal has been made, but the possibility of a deal has been enough to boost Intel for two sessions in a row.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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