On Friday, Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD), lost -4.26% to $2.47.
Semiconductor maker Advanced Micro Devices Inc. is considering whether it should split itself in two or spin off a business, Reuters stated.
Citing anonymous sources, the wire service stated that the California company, which operates a major facility in Austin, wants to reverse its fortunes and compete with rival Intel Corp. One possible scenario would center on AMD (NASDAQ:AMD) breaking away graphics and licensing from its server business. American City Business Journals Reports.
Advanced Micro Devices, Inc. operates as a semiconductor company worldwide. The company’s products primarily comprise x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete graphics processing units (GPUs), and semi-custom System-on-Chip (SoC) products.
Shares of Rite Aid Corporation (NYSE:RAD), declined -0.47% to $8.56, during its last trading session.
Rite Aid Corporation, has accomplished its formerly declared acquisition of Envision Pharmaceutical Services from leading global private investment firm TPG and other shareholders in a transaction valued at about $2 billion, counting about $1.8 billion in cash and about 27.9 million Rite Aid shares.
EnvisionRx will operate as a wholly owned partner of Rite Aid led by Frank Sheehy and current administration. EnvisionRx’s headquarters will remain in Twinsburg, Ohio.
The transaction, which was declared in February 2015, is predictable to be accretive to Rite Aid’s earnings per share in Rite Aid’s fiscal year 2017.
Citigroup Global Markets Inc. served as financial advisor to Rite Aid and Skadden, Arps, Slate, Meagher & Flom LLP was the company’s legal advisor. J.P. Morgan served as exclusive financial advisor to EnvisionRx, and Cleary Gottlieb Steen & Hamilton LLP acted as its M&A legal counsel and Baker & Hostetler LLP acted as its regulatory legal counsel.
Rite Aid Corporation, through its auxiliaries, operates a chain of retail drugstores in the United States. The company sells prescription drugs and a range of other merchandise, counting over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other every day and convenience products.
Finally, Magnum Hunter Resources Corp. (NYSE:MHR), ended its last trade with 7.53% surge, and closed at $2, as the company ongoing gains from Thursday when the oil company declared it will divest its stake in Eureka Hunter.
Magnum Hunter anticipates to raise between $600 million and $700 million in gross proceeds by divesting its 45.53% equity in Eureka Hunter. The company said the transaction will allow it to “restructure its balance sheet and dramatically improve its current liquidity position.”
The oil company has to raise about $9.4 million by July 10 to pay back its lenders, according to Columbus Business First. Magnum Hunter Resources already raised $55.6 million of the $65 million is owes its lenders.
Magnum Hunter Resources Corporation, an independent oil and gas company, explores for, exploits, acquires, develops, and produces crude oil, natural gas, and natural gas liquid resources in the United States. The company operates through the U.S. Upstream, Midstream, and Oilfield Services segments.
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