Stock of Intel Corporation (INTC) is climbing about 7 percent on Wednesday morning trading after the company announced a definitive agreement to repurchase the 49% equity interest in its Fab 34 Ireland joint venture from Apollo Global Management Inc. (APO) for $14.2 billion.
The company's shares are currently trading at $47.70 on the Nasdaq, up 7.86 percent. The stock opened at $45.01 and has climbed as high as $47.25 so far in today's session. Over the past year, it has traded in a range of $17.67 to $54.60.
The transaction will be funded through cash on hand and approximately $6.5 billion in new debt issuance. The company expects the transaction to be accretive to ongoing earnings per share and to strengthen its credit profile from 2027 onward.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.