InfoAnda - Exclusive: AMD hires bank to explore options

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Oracle employee named in Singapore sex-for-favors case | | 12 June 2012
Website a window into John F. Kennedy's Oval Office | 22 February 2011
Saudi Sabic swings back to profit in Q2 | 19 July 2009

Egypt intel chief in Israel for talks with govt | 22 April 2009

Forum Views () Forum Replies ()

Read more with google mobile : Exclusive: AMD hires bank to explore options - sources |

Edition: U.S. Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Aerospace & Defense Investing Simplified Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB Dividends World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Campaign Polling Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Opinion Home Chrystia Freeland John Lloyd Felix Salmon Jack Shafer David Rohde Nader Mousavizadeh Lucy P. Marcus Nicholas Wapshott Bethany McLean Anatole Kaletsky Edward Hadas Hugo Dixon Ian Bremmer Lawrence Summers Susan Glasser The Great Debate Steven Brill Reihan Salam Frederick Kempe Christopher Papagianis Mark Leonard Breakingviews Equities Credit Private Equity M&A Macro & Markets Politics Breakingviews Video Money Money Home Tax Break Lipper Awards 2012 Global Investing MuniLand Unstructured Finance Linda Stern Mark Miller John Wasik James Saft Analyst Research Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Money Clip Investing 201 Life Health Sports Arts Faithworld Business Traveler Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Full Focus Video Reuters TV Reuters News Article Comments (1) Editor's Choice The household bio-reactors of the future Researchers at the Argonne National Laboratory are developing a mobile reactor they say will one day play a crucial role in helping people after natural disasters like Hurricane Sandy. Video Video: McAfee founder wanted by police Startup Square battles payment giants Clinton foundation to tackle health disparities Follow Reuters Facebook Twitter RSS YouTube Read Civilian social ties make Tampa desirable posting for generals 1:01am EST Emails that touched off scandal described CIA director's movements 13 Nov 2012 Detroit faces another cash-flow crisis 13 Nov 2012 Britain condemned for "mad house" care of schizophrenia patients 13 Nov 2012 Anti-austerity strikes sweep southern Europe 1:12am EST Discussed 217 After Obama win, U.S. backs new U.N. arms treaty talks 168 Obama plans ”fiscal cliff” statement as showdown looms 113 Republicans say deal can be done on ”fiscal cliff” Sponsored Links Exclusive: AMD hires bank to explore options - sources Tweet Share this Email Print Related News Apple slides to five-month low, uncertainty grows Wed, Nov 7 2012 Apple iPad mini draws New Yorkers; crowds thin elsewhere Fri, Nov 2 2012 First iPad mini teardown reveals Samsung display Thu, Nov 1 2012 UPDATE 2-Advanced Micro adopts smartphone technology for servers Mon, Oct 29 2012 Samsung posts $7.4 billion profit, handsets mask weak chips Fri, Oct 26 2012 Analysis & Opinion How Apple botched its fair rate case against Motorola Apple in miniature Related Topics Tech » Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Inflows Outflows » Media » iPad » A new AMD Opteron 6000 series processor is seen on a motherboard during a product launch in Taipei April 14, 2010. Credit: Reuters/Pichi Chuang By Nadia Damouni and Noel Randewich NEW YORK/SAN FRANCISCO | Tue Nov 13, 2012 10:36pm EST NEW YORK/SAN FRANCISCO (Reuters) - Advanced Micro Devices has hired JPMorgan Chase & Co to explore options, which could include a sale, as the chipmaker struggles to find a role in an industry increasingly focused on mobile devices and away from traditional PCs, according to three sources familiar with the situation. Sources told Reuters on Tuesday that an outright sale of the company is not the main option, and other choices could include a sale of its portfolio of patents. The company's stock surged 18 percent on the news before ending up 5 percent at $2.09 on the New York Stock Exchange. The shares slipped further to $2.07 in extended trade after AMD said it was "not actively pursuing a sale of the company or significant assets at this time." "AMD's board and management believe that the strategy the company is currently pursuing to drive long-term growth by leveraging AMD's highly-differentiated technology assets is the right approach to enhance shareholder value," spokesman Drew Prairie said in an email to Reuters. When asked why AMD had hired JPMorgan, Prairie declined to confirm the engagement, saying the company does not comment on its relationship with investment banks. A JPMorgan spokeswoman declined to comment. One of Silicon Valley's oldest chipmakers, AMD is laying off engineers and some analysts are concerned it may not find new markets for its chips in time to reverse a declining cash reserve. AMD's shares have fallen more than 60 percent this year, giving it a market value of about $1.4 billion. It also has long-term debt and capital lease obligations of about $2 billion. Since the 1980s, AMD has competed with much larger Intel and at times has made inroads with its PC and server chips. But setbacks at AMD limited those gains and AMD now faces new competition from companies designing low-cost and power-efficient chips based on ARM Holdings' technology. Like Intel, Sunnyvale, California-based AMD was caught flat-footed in recent years with the emergence and fast growth of mobile devices. But while Intel has deep pockets to fund research on new products to catch up, AMD faces declining cash flows and a more modest balance sheet. EMULATE APPLE Some investors believe part or all of AMD could be bought by a technology company that might want to emulate Apple Inc's tight control of software and components, a strategy credited in part for the success of the iPad and iPhone. One source described AMD as a "legacy company" and said it might prove difficult to sell because of its dependence on the PC industry and lack of strong mobile offerings. Another source said AMD's game console chip and embedded chips businesses were growing and attractive. Microsoft Corp, Google Inc, Samsung Electronics, Intel Corp and even Facebook Inc have been suggested by Wall Street analysts as potential suitors that could benefit from some of AMD's chip business, including its graphics division, PC processors and server chips. Others say AMD's most valuable asset may be its deep bench of engineers or its patents. Goldman Sachs analyst James Covello estimated in a recent note to clients the chances of AMD's PC processor business being sold are between 15 percent and 30 percent. Rather than selling AMD, bankers could help the chipmaker strengthen its finances in order to acquire technology it believes it needs to tackle new markets, said Williams Financial analyst Cody Acree. "Right now they don't have the currency on their balance sheet or their share price to make an acquisition (of another company) viable," Acree said. UNDERESTIMATED CHANGE Rory Read took over as AMD's CEO in 2011 promising to fix long-standing execution problems that have plagued the chipmaker. But AMD has continued to lose money as well as market share to Intel and graphic chip rival Nvidia. AMD said last month it would slash 15 percent of its workforce, while devoting more resources to areas outside of its traditional PC business, including communications, industrial and gaming applications. Last week, AMD said it added a second board member from its leading shareholder, Mubadala Development Co, which owns 15 percent of the chipmaker. In October, Read told analysts on a conference call he had underestimated the speed of change in the PC industry and said AMD would move quickly to focus on selling chips for communications, industrial and gaming applications. AMD recently announced it has licensed technology from ARM and will use it to build low-power chips for servers. But those products aren't expected to launch until 2014 and AMD is one of several companies vying for a microserver market that will be small compared to traditional servers that power most data centers. With the company burning through cash, analysts have recently become concerned about future liquidity and say AMD needs to turn its business around sooner than later. AMD's cash declined $279 million in the third quarter to $1.48 billion. AMD said it was reducing its "optimal" cash target to $1.1 billion from $1.5 billion due to the business' now smaller size. (Reporting by Nadia Damouni and Noel Randewich; Editing by Paritosh Bansal, Gary Hill and Bernard Orr) Tech Deals Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Global Deals Review Inflows Outflows Media iPad Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (1) IpeeOnJPmorgan wrote: Edition: U.S. Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Wednesday, 14 November 2012
Obama has faith in Allen's command in Afghanistan: White House |
Obama calls world leaders who hailed his re-election |
Three more killed by Italy floods, hundreds evacuated |
Envoy says Bosnian Serbs seek to undermine peace deal |
Hollande asks French voters to judge him in five years |
RIM sees BB10 devices available soon after launch |
Exclusive: Advanced Micro hires bank to explore options
Verizon to sell HTC's Droid DNA smartphone as holiday flagship |
Intel's McAfee security unit loses global head of sales |
Nokia doubles down on mapping with Here.com |
Microsoft shares fall after departure of key executive |
Apple stops selling customer protection plan at Italian shops |
Charlie Chaplin's bowler and cane to hit auction block |
Former Disney CEO Eisner back in moviemaking with Universal |
Andy Warhol Foundation reaps $17 million from auction sales |
Twilight cast bids farewell at final premiere |
Bahrain opens Arabian Nights-themed national theatre |
France recognizes new Syria opposition |
China party enshrines tighter oversight after Bo Xilai scandal |
No surprises as China congress gives clues to new leadership |
Suspected North Korea missile parts seized en route to Syria in May |
Pakistan agrees to free several Afghan Taliban prisoners |
Car bomb blasts kill at least 12 across Iraq: sources |
The U.S. military pivot to Asia: when bases are not bases |
Japan PM says ready to dissolve parliament for December election |
Analysis: China turns to machines as farmers seek fresh fields |
Exclusive: AMD hires bank to explore options
Sony to raise $1.9 billion through convertible bonds issue |
U.S. Congress urged to probe Chinese cyber-espionage |
Japan's Toshiba restarts shipments at flood-hit Thai plant |
Zynga overhauls upper management as CFO departs |
Microsoft and Google financials could surface at trial |
Cisco sees slower growth in second quarter |
Finnish app for best call-plan to launch in U.S. |
Liza Minnelli to guest star on TV musical drama Smash |
Top Hamas commander killed in Israeli airstrike |
Anti-austerity strikes sweep southern Europe |
U.N.'s nuclear report on Iran may not be all bad news for West |
U.N. worker killed in Sudan, South Sudan disputed region |
Iran aims for baby boom, but are Iranians in the mood? |
U.S. commander says Benghazi attacks linked to al Qaeda in Maghreb |
Invoking the rules, Israel mulls toppling Abbas |
Croatia's deputy PM sentenced to prison for car crash |
Facebook stock up as lock-up expires on largest block of shares |
AT&T sees $1 billion opportunity in company cybersecurity |
Nokia sees no change in relationship with Microsoft |
New game birds play cuckoo in Nokia's nest |
Samsung feud engulfs memorial service for founder |
PayPal eyes double-digit share of Middle East e-commerce |
Facebook campaign wins German boy soccer gravestone |
Cellphones may get smaller Holiday lift: Gartner |
Bradley Cooper mines Philly childhood in Silver Linings |
Actor Channing Tatum dubbed People's sexiest man alive |
Few family films among Hollywood's holiday movies |
After dark years, lights coming back on for Iraqi cinema |
Wakeman reworks rock epic Journey to Centre of Earth |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01