I think the bounce is driven by the Intel + Micron press and analyst meeting scheduled for Tues 9am.
There should also be some short covering as Intel goes below their convertible bond intrinsic value.
I doubt whether it has anything to do with concrete.
AT LEAST they did not offer any more CONVERTIBLE notes. Those drive the stock price crazy. Hedge funds buy the convertible notes. When Intel goes above the conversion rate, they short an equivalent number of shares to lock in a guaranteed no investment return (even subtracting out borrowing fees). When Intel drops back below the parity conversion rate, they cover the shorts.
The current conversion price of the 2009 and 2005 shares (since the conversion price drops with excess dividend payment) is $21.71 and $28.61 respectively.
Intel chewed through the pile of shorting above $21.71 and is now chewing through the shorting above the $28.61 parity price.
The Wonders Of Convertible Bonds
By Investopedia Staff |Updated August 12, 2013
Applications of Convertible Bonds
Hedge funds and sophisticated investors employ a common arbitrage strategy that involves buying the convertible bond and shorting the underlying stock. This enables them to pocket the difference in yields between the bond and the stock, while hedging much of the risk. Of course, this strategy would not work if the yield differential is negative, as was the case with the Intel example cited earlier.
"needs a pointing device and a keyboard so it can be used properly. "
Cranial / Neurosurgical implants with encrypted Bluetooth bonding with devices.
I doubt that they are screening out analysts. I does no good and changes nothing for the better. Danely got through and he is just as negative as Rasgon or Covello. It does no good for a company to screen analysts to start a personal war with these guys.
"No need for owning MUth"
There are public portions of the INTC/MU JV contracts and their are private portions. Noone outside of Intel and Micron know the contents of the whole agreement. If quantum transistor NVM components disrupt the DRAM and NAND markets causing them to shrink by a significant percentage, the resulting DRAM price war would cause the MU 60% revenues from DRAM to drop and profits to evaporate. If Intel was at all interested in MU, Intel would not have sold any of their portion back to MU.
"OPTIONS MARKET IS PROBLEM THIS WEEK"
The options market significantly affects Intel trading every day .... not just this week. You just bake that into your analysis and investment decisions.
There is $10.9b in repurchase authorization. They will continue to repurchase or not as makes sense.
" As of June 27, 2015, $10.9 billion remained available for repurchase under the existing repurchase authorization limit "
You can still listen to the earnings call archive if you are confused about the acquisition.
"Over the next two to three quarters, we expect to complete the acquisition of Altera for $16.7 billion. The financing plan for this acquisition is to issue $7 billion to $9 billion in new long-term debt and finance the remaining balance with our cash and short-term commercial paper. As we generate free cash flow, we expect to get back to approximately zero net cash in the second half of 2016."
Bernstein issued a report on Intel Thursday July 9th and lowered the price target from $32 to $29. What happened over the weekend to have Bernstein say "ooops, it should have been a downgrade to underperform with an even lower price target of $25" ???
What happened to make their "last Thursday" analysis that incorrect? Stacy Rasgon's actions here just look bad.
"How can all your competitors warn and miss and you not have a BAD day two, huh? Anybody? "
.... because you are taking market share from them would be one possibility.
I have seen this narrow trading range as we approach the dividend declaration time. It appears that some large organization arbitrages the trading in Intel shares during dividend time. Option volatility is very high and attracting traders. GS has recommended buying puts a number of times which coerces the option market maker to short shares.
From the Gartner Research Glossary:
Mobile PCs meet all PC criteria but are designed to be easily moved from place to place. The system is completely self-contained and can be carried as a single unit, which includes a keyboard, a display, mass storage and the main system unit. Its power sources are alternating current (AC) or direct current (DC). Mobile PCs also include tablet devices that are distinguished by a pen-based OS, which uses a pen as a primary input device rather than a keyboard. Mobile PCs include desktop replacement, mainstream, mini-notebook, ultraportable, tablet or other mobile configurations.
A media tablet is a device based on a touchscreen display, typically multitouch, that facilitates content entry via an on-screen keyboard. The device has a screen with a diagonal dimension that is a minimum of five inches. Media tablets feature connectivity via Wi-Fi or via 3G/4G cellular networks. Tablets typically offer day-long battery life, and lengthy standby times with instant-on access from a suspended state. Examples of media tablets are the Apple iPad, Samsung Galaxy Tab, Acer Iconia HCL ME X1, Micromax Funbook, Milagrow TabTop.
"Thanks for the clarification, Grandpa Dumb***."
You are quite welcome old timer. It is wonderful to see that you still have the capacity to understand some of what is said. I hope that I am as alert when I finally reach your age.
"That's right. You are "socially" liberal, meaning you don't tip your waitresses and you order steak and lobster when the other guy says "dinner's on me." What a guy....."
The actual definition of social liberalism is ....
Social liberalism is a political ideology that seeks to find a balance between individual liberty and social justice.
The label seems right. Your understanding of the term actually means is lacking though.
"Alex, you never responded to my question about what you thought of the Liberal jerk that owned multiple million dollar mansions..........yet said Americans need to learn to live with less. You fired up to vote for Hillary? LMAO.."
You are correct. Changing from the thread topic is a very good technique for a "no response" reply.
I am a registered Republican so I am going to vote for the "Donald" first. 8-)
"Nice reply. You couldn't refute any of it. 32 to 29 in 15 years with a pathetic Dividend. "
For those who bought 15 years ago at $32 and still own INTC, the "pathetic" dividend of that time has gone up some.
For those who bought a couple years ago below $25, less "pathetic".
For those who additionally have traded options, Intel has been a "heck of a buy"..
"Samsung got the S6 mix wrong, ...."
thanks ... I was just goofing off.
"Yes, I was wrong."
A rather unique confession on a message board where the children in the back seat have never been wrong. . 8-)
Samsung ARM CPU
"too much inventory"
the rest of the S6 BOM
I found the "Samsung’s seventh straight profit drop" rather surprising.
" they're SOVEREIGN again, and, can print money faster than the Fed or ECB."
"Here the gambit: they can negotiate a debt relief program."
They can try. Argentina is still locked out of the borrowing markets until it is resolved. The more money Argentina prints, the more it is devalued and the more they owe on hard currency debt.
"You're right about the litigation"
Yes. I know.
"but, how much has Argentina paid .....NOTHING! "
They settled with some holders for 50%, but Paul Singer continues to pursue payment. Argentina has and will continue to pay litigation costs and lost business costs. The 2033 bonds are trading at 75% which is more than the others settled for. 75% of face value is certainly more than "NOTHING".
"So, bottom line. After introducing a devalued script, Greece will wipe out 20% - 50% of their debt obligations without a formal default"
So you are saying that the Greek banks that made home loans denominated in Euros will accept the new currency as acceptable mortgage payment? That is very generous of those banks.
So you are saying that the holders of Greek debt, denominated in Euros will accept payment in a new Greek currency? That is very generous of those debt holders.
Seems like Argentina tried that and they are still fighting with hedge funds that bought Argentina debt and resisted unilateral devaluing of the Argentina debt.
Argentina debt hedge fund