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AMD-ATI job cuts boost share price

Synergesticulations

By INQUIRER staff

Fri Dec 15 2006, 08:23

THE CHIEF beancounter at AMD told financial analysts that his firm will save more than it thought after its takeover of ATI.

So called synergies will knock off $150 million next year and $220 million in 2008, Robert Rivet told financial analysts. The "synergies" were only expected to save $75 million in 2007 and $125 milion the year after.

AMD shares flew up by over $2.50 on the NYSE to rest on a $22.71 perch.

AMD had to borrow to buy ATI and the graphics division won't turn a profit in the firm's fourth quarter.

The firm may have to borrow more cash in the future. µ

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AMD-ATI job cuts boost share price

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