Intel Drops, EBay Falls, and Akamai Up After Positive Earnings
About this episode
On this episode of Stock Movers:
- Intel (INTC) shares drop. Intel said it will be offering $15 billion in common stock, taking advantage of renewed interest in its business prospects during the artificial intelligence data center boom. The money will be used for general corporate purposes, Intel said in a statement on Monday.
- EBay (EBay) shares drop. GameStop Corp. is considering withdrawing its $56 billion bid for eBay Inc. and may propose a partnership or joint venture instead. A partnership could enable eBay to leverage GameStop's US retail locations and increase market share in categories such as trading cards and collectibles.
- Akamai Technologies Inc. shares rise. Susquehanna Financial cut the target on Akamai Technologies Inc. to $140 from $175 but maintained a positive rating. Akamai reported earnings and sales that topped estimates for the quarter on Aug. 6.
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