Stock Prices Rise At Dell And Intel Despite Bribe Charges

Posted: February 16, 2007 at 5:17 am

A story at CNNMoney yesterday detailed antitrust accusations against Dell (DELL) and Intel (INTC). The suit alleges that Intel paid Dell up to $1 billion a year from 2003 to 2006 not to use chips from rival AMD (AMD). The suit further states that Michael Dell and Intel founder Andy Grove may have been aware of the arrangement.

Intel was dismissive of the suit. And, so was the market. Dell’s shares, which had traded as low as $23.61 the day before yesterday hit a midday high of $24.51 yesterday. Intel’s shares which hit a low of $20.95 the day before yesterday hit $21.35 yesterday.

So much for the Wall St.’s reaction.

Douglas A. McIntyre can be reached at douglasamcintyre@247wallst.com. He does not own securities in companies that he writes about.

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