Key findings

• A report late Friday that Qualcomm recently made a “takeover offer” to Intel sent the latter company’s stock price soaring.

• Intel investors have read a flood of reports about possible merger and acquisition activity this week, with the company apparently taking some options off the table.

• Intel shares have lost more than half their value since the beginning of the year amid concerns about whether the chipmaker can turn the tide.

Shares of chip manufacturer Intel (INTC) rose in extended trading on Friday, boosted by a report that Qualcomm (QCOM) made a “takeover attempt”.

The story in The Wall Street Journalciting people familiar with the matter, said Qualcomm recently made a takeover offer to Intel. The news sent Intel shares up about 4%. Qualcomm’s share price was little changed after falling nearly 3% in the regular session.

Investors have been considering a number of reports about potential transactions involving Intel in recent weeks. Wall Street is looking for signs that the company is on its way to raising fresh capital or strengthening its business units. The company updated investors on its strategic plans this week and announced that a sale of its stake in Mobileye (MBLY) was off the table.

Qualcomm was mentioned in some of these Intel reports. However, a takeover would be particularly dramatic: Intel’s market capitalization was recently around 90 billion dollars.

Intel shares will fall more than 50% in 2024.

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