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AMD Jumps 5% on Reuter’s Report Hired JP Morgan to Explore Options
By Tiernan Ray

Shares of chip maker Advanced Micro Devices (AMD) surged late in the session and closed up 10 cents, or 5%, at $2.09 after an article by Reuters‘s Nadia Damouni and Noel Randewich saying the company has hired JP Morgan to “explore options,” citing three unnamed sources.

Options include sales of AMD’s patent holdings, though an “outright sale” is “not a priority,” the sources tell the authors.

Update: AMD representatives were in contact this afternoon via email to offer their official comment on the matter, without actually affirming nor denying the hiring of any advisors:

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. AMD is not actively pursuing a sale of the company or significant assets at this time.