NEW YORK (TheStreet) -- Shares of Advanced Micro Devices (AMD) are climbing 2.33% to $2.64 in Monday's afternoon trading session as the company is looking to decide whether to split itself in two or spin off a business, according to Reuters.
CEO Lisa Su is trying to turn the company around as it seeks to reverse its fortunes and compete with rival Intel (INTC), Reuters said, and one way to do it is to break away graphics and licensing from its server business.
This comes after the company posted weak first quarter 2015 results in April, with revenue of $1.03 billion and loss of 9 cents per share, compared with revenue of $1.4 billion and a profit of 2 cents per share in the same quarter last year.
The global semiconductor company was expected to report revenue of $1.05 billion, or loss of 5 cents per share in the first quarter of 2015, according to analysts polled by Thompson Reuters.
The California-based company has "asked a consulting firm to help it review its options and draw up scenarios on how a break-up or spin-off would work," Reuters added.
Late this afternoon, AMD said that they "have not hired an outside agency to explore spinning-off/splitting the company. We remain committed to the long-term strategy we laid out for the company in May at our Financial Analyst Day, which encompasses all parts of the business."
Separately, TheStreet Ratings team rates ADVANCED MICRO DEVICES as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation: