On September 11, Intel rose 3.34% in regular trading, trading at $103.625/share, with turnover of $1.129 billion. The stock rebounded sharply after closing down 5.57% in the prior session.

On the news front, programmable chipmaker Altera, jointly backed by private equity firm Silver Lake and Intel, is preparing to confidentially file IPO papers with the SEC in the coming weeks, with a listing potentially occurring later this year. The offering could raise more than $2 billion. Barclays, Citigroup, JPMorgan Chase, and Morgan Stanley have been selected to handle the offering, though the final order of banks has not been finalized. The timing and size of the deal remain subject to change based on market conditions.

The planned Altera IPO carries significant strategic importance for Intel, as it could unlock embedded asset value within the company and boost investor confidence in Intel's overall valuation. Notably, Intel had previously gained approximately 9% on September 8 on reports of a further 10% PC CPU price hike in October and an analyst upgrade from Northland Securities to Outperform with a $120 target, before pulling back on a neutral initiation from Piper Sandler with a $110 target.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)