On this episode of Stock Movers:
- Intel (INTC) shares soared on word it has approached Apple (AAPL) about securing an investment in the ailing chipmaker, according to people familiar with the matter, part of efforts to bolster a business that’s now partially owned by the US government. Apple and Intel also have discussed how to work more closely together, said the people, who asked not to be identified because the deliberations are private. The talks have been early-stage and may not lead to an agreement, the people said. Shares of Intel rose 6.4% to $31.22 on Wednesday in New York after Bloomberg News reported on the discussions. Apple closed down less than 1% at $252.31. Intel also has reached out to other companies about possible investments and partnerships, the people said.
- Lithium Americas (LAC) shares soared to the highest price since April 2024 on Wednesday after reports the Trump administration is pursuing a stake in the company. The White House proposed taking equity in the Canadian lithium company during a renegotiation of the terms of a $2.3 billion loan extended by the Energy Department, Bloomberg News reported Tuesday. That followed an earlier Reuters report that the administration was seeking a stake of as much as 10%.
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