Intel sells debt, shares jump on stock buyback hopes

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    Anonymous

    Technology News

    A woman walks past an Intel logo at the 2012 Computex in TaipeiSAN FRANCISCO (Reuters) – Intel Corp shares jumped more than 2 percent on Tuesday as the top chipmaker sold $6 billion in bonds to fund stock buybacks and other business activities. Intel sold the bonds in a range of maturities from five years to 30 years, according to IFR, a Thomson Reuters unit. The Santa Clara, California-based chipmaker said in a filing it plans to use proceeds of the debt sale for general corporate purposes and for stock buybacks under its existing share authorization. …


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