Nvidia Denies PC Acquisition Talks, Dell Shares Down 3.4% and HP Falls Over 3%
Nvidia Corp. denied it’s engaged in talks to acquire any PC maker, refuting a report that had driven Dell shares up 6.7% and HP stock up 5.3% earlier Monday. Following Nvidia’s statement, Dell shares fell 3.4% and HP declined over 3% in extended trading.
1. Rumor Origins
A report claimed Nvidia had been negotiating to acquire a large PC maker for over a year, suggesting a deal that would reshape the PC landscape and prompting Dell shares to surge 6.7% and HP stock to jump 5.3% on Monday.
2. Nvidia’s Denial
Nvidia Corp. issued a statement declaring it is not in talks to acquire any PC maker, labeling the acquisition report false and clarifying that no discussions are underway.
3. Market Reaction
After Nvidia’s denial, Dell shares slid 3.4% and HP stock dropped more than 3% in extended trading, reversing earlier gains that had lifted Dell to a record close of $189.79 and HP to $19.23.