BUZZ-Intel falls after rally in previous session

Reuters
20 Feb
BUZZ-Intel falls after rally in previous session

** Chipmaker Intel's INTC.O shares fall 5.7% to $25.81 in early trade, after stock jumped 16% in prior session

** Tuesday's rally followed a report on Saturday that rival chipmakers Taiwan Semiconductor Manufacturing Co 2330.TW and Broadcom AVGO.O are considering potential deals that would split INTC into two

** Late on Tuesday, Reuters reported citing a person familiar with the matter that buyout firm Silver Lake is in exclusive discussions to buy a majority stake in INTC's Altera unit

** Deal is likely to value Altera at about $9 billion

** INTC has gained about 35% in February, on track for its best month since 1987

** Majority of brokerages rate the INTC stock "hold"; their median PT is $21 - LSEG

** Including session's moves, INTC stock had risen 28.7% YTD, compared with a 3.5% increase in the Nasdaq index .IXIC

** Philadelphia semiconductor index .SOX rises 0.8% in early trading; index up 5.4% for the month

(Reporting by Nikhil Sharma in Bengaluru)

((Nikhil.Sharma@thomsonreuters.com;))

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