US Stock Market Move | Intel Corporation (INTC.US) rose more than 6%, investing $14.2 billion to repurchase shares of an Irish factory.

On Wednesday, Intel Corporation (INTC.US) rose over 6% to $46.87. On the news front, Intel Corporation agreed to pay $14.2 billion to repurchase half of the shares of a factory in Ireland that it had previously sold to Apollo Global Management Inc in order to restore its chip manufacturing capabilities. Earlier, Apollo had acquired 49% of the joint venture for $11.2 billion, which owned the factory named Fab 34 to be completed by 2024. Intel Corporation expects the transaction to have a positive impact on the ongoing earnings per share (EPS) and to strengthen the company's credit profile from 2027 onwards.