Market Overview

This Tweet Just Punished Intel, Altera Shares

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This Tweet Just Punished Intel, Altera Shares

Shares of Intel Corporation (NASDAQ: INTC) fell approximately 3 percent to $30.40 in Thursday’s pre-market following a tweet from CNBC’s David Faber:

Shares of Altera Corporation (NASDAQ: ALTR) were also adversely impacted by the news. Shortly after Thursday's open, the stock traded at $39.36, down 6.29 percent.

On March 30, Citigroup analyst Christopher Danely commented on the deal and wrote, “We believe the acquisition would be positive for Intel and Altera's competitor, Xilinx. However, we believe the benefits to Intel and Xilinx are outweighed by the headwinds facing both companies."

After the market opened, Intel recovered some of its losses and recently traded at $31.10, down 0.67 percent.

Posted-In: Christopher Danely Citigroup CNBC CNBC David FaberNews Movers Media Best of Benzinga

 

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