Diamonds and Dogs

6/5/23

Merger Monday. Industrial machinery maker, Circor International (CIR) jumped 51% after private equity firm, KKR announced they are willing to pay $1.6 billion to take the pump and valve flow control company private. Circor, makes pump and valve systems for sectors including oil and gas, industrial, aerospace and defense.

No love for Intel. Intel (INTC) fell nearly 4% today after Apple unveiled their own chip for their Mac Pro computer, discontinuing the use of Intel chips. Intel is facing heightened competition from AMD for other PCs while Nvidia processors are becoming more popular for running artificial-intelligence models.

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