AMD stock sinks, Xilinx soars after WSJ report on advanced merger talks

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Actions d’Advanced Micro Devices Inc. AMD,
-0,20%
fell 5.2% in pre-release Friday, while Xilinx Inc. XLNX,
+ 0,15%
climbed 17%, after the Wall Street Journal reported that AMD was in advanced talks to buy rival chipmaker Xilinx in a deal valued at more than $ 30 billion. Xilinx stock was on track to open at the highest level seen during regular session hours since July 2019. As of Thursday’s close, the company had a market cap of $ 25.89 billion, while the market cap was AMD’s stock market was $ 101.57 billion. The WSJ report does not indicate whether the transaction will be cash, stock, or both. AMD shares are up 88.6% year-to-date through Thursday, while Xilinx shares are up 8.4%. In comparison, the PHLX Semiconductor Index SOX,
+ 1,17%
rallied 27.4% and the S&P 500 SPX,
+ 0,80%
grew 6.7%.

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