NEW YORK (TheStreet) -- Rounding out the year's biggest week for M&A thus far, Intel (INTC) - Get Report jolted investors Thursday morning when it announced an extravagant deal to buy security software maker McAfee (MFE) for $7.7 billion, or $48 a share (that's a 60% premium on the previous day's closing price).
as a way for the chip maker to get a
-- investors are still waffling on the long-term viability of the deal.
Tech watchers wondering about the
helped send Intel stock down 2.83% for the week; stock was down 3.52% on Thursday following the announcement and closed up 1 cent, or 0.05%, at $18.91 on Friday.
The deal saw some gainers as well, as McAfee rival
rose 3.22% on speculation that it might be an acquisition target, too.
closed at $13.80 on Friday.
Despite the leadership issues plaguing
of late, both PC makers -- along with a handful of other
Thursday after market close.
earlier in the week, beat both EPS and revenue estimates at $15.5 billion and 32 cents EPS.
revenue beat -- $30.7 billion, which was above expectations of $30.43 billion -- was slighter. The company, coming off its own
, didn't have any significant news to share on how its CEO replacement effort is going. HP has hired an executive search firm to help; it gave no guidance on when the position would be filled.
, small business barometer
and cloud computer
all reported incredibly solid earnings Thursday as well. Their gains -- Intuit stock advanced 13% after posting a narrower-than-expected loss for its fiscal fourth quarter -- helped to reprieve tech after last week's sector downfall. The
at market close Friday, reaching 2182 -- its high for the day.
HP closed down 2.23% to $39.85 and Dell closed up 0.25% to $12.07.
Rumors of a smaller
iPad surfaced last week in a Taiwanese newspaper. Apparently
that could hit the market in time for the hoilday buying season.
Apple refused to comment on the speculation, and the tech giant's stock price saw a quiet week. It closed down 24 cents to $249.64 on Friday.
revamped talk of the expected
Chrome-running tablet device, which the site said would go on sale November 26, or Black Friday, traditionally the biggest shopping day of the year.
Google refused to comment on the rumor and
never heard back from Verizon regarding details of the upcoming device.
reports that the
will probably be loads cheaper than the iPad.
Tech's week ahead
Tech earnings for the quarter have wound down and it's time to take a closer look at the implications behind the numbers and outlook.
will take another look at the smartphone market on Tuesday, zeroing in on Android's crazy growth -- and whether or not it can be sustained.
Also, following on the M&A trend -- specifically the Intel/McAfee deal --
will tell investors what security stocks to keep an eye on over the next few months.
--Written by James Rogers in New York
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