Why Did Advanced Micro Devices Fall on September 25?
Advanced Micro Devices
Advanced Micro Devices (AMD), which is the second-largest supplier of x86-based microprocessors, fell on September 25. The market sentiment on Advanced Micro Devices was dented on Monday amid the release of new desktop processors by Intel (INTL).
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Intel unveiled its new core desktop processors on Monday with a 25% improvement in the frame rate for computer gaming. Advanced Micro Devices, which is Intel’s top rival, fell after Intel’s announcement. NVIDIA (NVDA) also fell on Monday. Even though NVIDIA isn’t a direct competitor with Intel, it responded negatively on Monday. Processors’ better performance could impact the demand trends of graphics card upgrades. On Monday, the iShares PHLX Semiconductor ETF (SOXX) fell 2.3%.
On Monday, Advanced Micro Devices and NVIDIA fell 5.2% and 4.5%, respectively, and closed the day at the lowest levels in ten days.
Total System Services
Total System Services (TSS), a credit card service company in the US, fell on Monday. It was one of the S&P 500’s top losers. Total System Services fell because its president and CEO, Pamela A. Joseph, is leaving the company.
On September 22, Total System Services reported that Joseph resigned from her position and from the board of directors effective on September 30. Joseph will receive a separation payment of $2.27 million. Management didn’t report why she is leaving the company. On Monday, Total System Services opened the week lower and broke the three-day rising streak. Total System Services fell 5% on September 25 and closed the day at $65.64—the lowest daily close in five weeks.