Anything can happen in the next half hour
|
|
|
AMD to raise $700 million in share sell
CHIP FIRM AMD said in a filing to the SEC that it wants to raise $700 million of shares.
The firm's share price was $12.70 when the NYSE closed yesterday.
The filing said that AMD expected Intel to maintain its dominant position in the market place, and it only started shipping its first quad core products during the third quarter.
AMD said its capital expenditures are such that it may face a cash flow problem. It plans to spend $300 million on capex during this quarter.
It it can't generate sufficient revenues it will face a cash shortfall.
Its consolidated debt is currently around $5.3 billion. In the prospect it said AMD cannot be certain that its acquisition of ATI will bring the full benefits it originally anticipated.
It has also made pledges to the Canadian government, and its ATI business is heavily dependent on a small number of customers. One of these handset customers has bought less than it expected.
Tags: Amd
Share this:
Share
So it was a bad idea huh? 

Why would we, the "punters" want to bail out AMD/ATI when noone has said sorry or taken responsibility for messing up both companies. 

They are just going to make the same flakey decisions all over again aren't they? 

They have to go, then maybe.

:p