Marvell's Intel Deal Creates Few Fans

After weeks of rumors, Intel(INTC Quote) has sold off the first significant chunk of its business as part of its plan to refocus the company.

But while the $600 million Intel reaped for its line of handheld communications and application processors didn't excite its own shareholders, it went over like rotten fish among investors of the firm on the other side of the table -- Marvell Technology(MRVL Quote).

Shares of Marvell plunged 15%, or $7.76, to close at $44.14. Intel's stock slipped 23 cents, or 1.3%, to $18.05 amid Tuesday's broader market downturn. ...