Diamonds and Dogs
Intel (INTC) to spin off their self-driving-vehicle component division. Intel is up 4% after announcing they will take public their self-driving division called, Mobileye. Intel bought Mobileye for $15 billion five years ago. The spin off and IPO could be worth as much as $50 billion. Intel said they will use the proceeds to build more chip plants in the US.
Used cars are in demand. Autozone (AZO) is up 6% to new highs following strong earnings. Used cars are in strong demand as older vehicles need higher maintenance and repairs, for which spare parts are needed, and in short supply.
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