Intel sells 1.18M share stake in Arm Holdings

Intel (INTC) sold its 1.18 million share stake in Arm Holdings (ARM), according to a regulatory filing. The company would have raised nearly $147 million from the sale, based on the average price of Arm's stock between April and June.

Market Domination anchors Julie Hyman and Josh Schafer report more on the story and break down Intel's efforts to cut costs and shore up more capital.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Melanie Riehl

Video transcript

Well, let's get to some trending tickers now as well.

Shares of Intel were watching them today.

The company disclosing it sold 1.18 million shares.

And, um, if you look at the average price of the stock during the period, we're talking about, it would raise about 100 and $47 million.

So the shares are down a little bit, arm shares are up a little bit.

I don't know that either one of them has anything to do with this news, but it is interesting.

Yeah.

Right.

And it's sort of plans that we knew from Intel, not necessarily that they were gonna sell the armed stock that they own, but that they're looking to get more cash in and they're trying to restructure right now.

Right.

This is really just more fall out from that earnings release.

We had, I think it was about two weeks ago now.

Right.

And the stock really sold off after that as it just feels like.

And I remember analyst sent, I mean, we were speaking with an analyst right after that release, Julie and they sort of said right now Intel is just in a different stage of this rebuilding plan than people had expected.

They're further behind the eight ball than the street had sort of hoped.

And then investors had hoped.

And so this is another step to kind of get back a little bit.

And we'll see, you know, like they're, they're getting more cash in from this.

That's in theory helpful.

It's not enough cash that anyone is hammering the table and saying this really solves an issue.

But it's a thing they did.

They sold smart and, and also they reported as part of their earnings when they did report earnings, they actually had a loss on their equity investments of 100 and $20 million.

So that implies that even though they sold this stake, they lost money on other stuff because they made, yeah, because they made money on our.

Right.

Exactly.

So, still not fantastic.

Trading stocks is hard, owning stocks is hard.

You can't always sell when you want it.

Right.

And maybe that's part of the take to figure out what to do.