Intel Stock Higher After Securing $8.5 Billion in Funding

Intel Corp (NASDAQ:INTC) was last seen up 1% at $42.45, following news it will receive $8.5 billion in government funding for high-end chip manufacturing, in addition to $11 billion in loans. The company plans to spend $100 billion in Arizona, New Mexico, Ohio, and Oregon to build and expand factories, and expects to get another $25 billion in tax breaks.The shares have struggled with overhead pressure at the $47 region since a late-January pullback, though long-term support from the 140-day moving average ...