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Excerpt from today's One Page Annotated Wall Street Journal Summary (which you can get emailed to you every morning by signing up here):

Breaking News: Intel Plans to Sell Unit To Marvell for $600 Million

  • Quick Comment: Intel's sale of its communications business to Marvell is a short-term positive for both stocks. Strengthens Marvel (NASDAQ:MRVL) by reducing competition, generates cash and increases focus for Intel (NASDAQ:INTC). In the long run, begs the question how Intel will diverisfy out of microprocessors. Whether Marvel or Intel is the stronger competitor for Texas Instruments (NASDAQ:TXN), the leader in the mobile chip market, is uncertain.
Source: Intel Sells Communications Chip Unit to Marvell