08:56 AM EDT, 08/30/2024 (MT Newswires) -- (Updates with latest stock moves in headline and last paragraph.)

Intel ( INTC ) is working with investment bankers Morgan Stanley ( MS ) and Goldman Sachs Group ( GS ) to navigate the best way forward as the California-based technology company faces challenging times, Bloomberg News reported Friday citing people familiar with the matter.

The company's shares recently dropped to their lowest level since 2013 after delivering disappointing earnings earlier this month.

Anonymous sources told Bloomberg that Intel ( INTC ) is considering several options, including M&A, a split of its product-design and manufacturing businesses, and scrapping some of its factory projects, which are expected to be presented during a board meeting in September.

Intel ( INTC ) did not immediately respond to MT Newswires' request for comment on the matter.

Shares of the chipmaker were up more than 6% in recent premarket activity.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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