AMD Announces Move to Nasdaq

[btarunr]

AMD (NYSE: AMD) today announced that it is transferring its stock exchange listing to The Nasdaq Stock Market from The New York Stock Exchange, effective after market close on December 31, 2014. AMD shares are expected to begin trading as a Nasdaq-listed security on January 2, 2015 and will continue to trade under the symbol AMD. This transfer is expected to be seamless for AMD investors and shareholders.

"We are excited to join other industry-leading technology companies listed with Nasdaq and believe this move will help AMD reach investors and shareholders more efficiently and effectively as we continue transforming the company for long-term growth," said Devinder Kumar, senior vice president and chief financial officer, AMD. "We are proud to welcome AMD to Nasdaq and look forward to a successful partnership with the company and its shareholders," said Bruce Aust, Vice Chairman at Nasdaq.

View at TechPowerUp Main Site

 

[btarunr]

Naach na aawe aangan taedah.

 

[PHaS3]

Naach na aawe aangan taedah.

Sorry, I dont speak Klingon

Not sure if this is a good move for AMD, seems like a sidestep. I admit I know next to nothing about stock exchanges though.

 

[HumanSmoke]

Not sure if this is a good move for AMD, seems like a sidestep. I admit I know next to nothing about stock exchanges though.

Sounds like further belt-tightening. Every little helps I guess:

The entry fee companies must pay to list stocks on the NASDAQ exchange is $50,000 to $75,000. Yearly fees are usually around $27,500.
The entry fee to list stocks on the NYSE is up to $250,000. Yearly fees are based on the number of shares listed and are capped at $500,000.

 

[Recus]

We are excited to join other industry-leading technology companies
we continue transforming the company for long-term growth

I see what you did there.

 

[rooivalk]

Naach na aawe aangan taedah.

I thought it's the opening of lion king soundtrack.

 

[jigar2speed]

Naach na aawe aangan taedah.

Bhai vo bohot saal se kar rahe hai

EDIT:
HumanSmoke beat me ... Anyway still below is the perceptions of NASDAQ Vs NYSE.

Link - http://www.diffen.com/difference/NASDAQ_vs_NYSE#Listing_Fee

Perceptions
The NASDAQ is perceived as a high-tech exchange and includes many firms that deal with the Internet or electronics. Its stocks are considered more volatile and growth oriented. Meanwhile, the NYSE is considered to be the exchange for well-established companies that have stable and established stocks.

EDIT 2: I could be wrong but I have a feeling some party is interested in purchasing AMD and might have given them some milestone target to achieve.

 

[64K]

Naach na aawe aangan taedah.

I think that is a Hindi Proverb meaning

"In the land of the blind, the one eyed man is king."

 

[Jorge]

The move is just a means of being associated and traded with a concentration of high tech stocks.

 

[ensabrenoir]

I think that is a Hindi Proverb meaning

"In the land of the blind, the one eyed man is king."

Google translate says:

• Literal: One who knows no dance claims that the stage is tilted.
• Meaning: Said of a person without skill who blames his failure on other things.
• English equivalent: a bad workman blames his tools.

 

[yogurt_21]

the listing might be cheaper, but nasdaq de-lists faster and more often than the NYSE. To get de-listed from the NYSE you pretty much have to be in your third bankruptcy, to get de-listed from Nasdaq you could just have a bad quarter, and AMD has had a ton on those.

 

[hrrmph]

I'm calling BS on the transforming for growth theme. AMD was bought out by vulture management who first destroyed the company's engineering talent and now are flailing around half-heartedly trying to rebuild it.

The trouble is they simply see the products as cash-cows and have no real passion or vision for what they build. Thus they can't truly innovate and lead it back into a position of strength - they can merely keep bringing in the same old "hired guns" who are "told to fix it." But, in reality those hired guns have all of the responsibility, and none of the authority, to "actually fix it." There is a big difference between being told to fix something and actually having the authority to fix it. These folks can't fix it because they won't be allowed to.

Meanwhile the stock went from $42 per share to $2.50 per share. The move to NASDAQ reflects that reality. Thus is just another stage of "swirling down the gurgler" to further oblivion. I wish it wasn't true, but it is.

 

[Jorge]

I'm calling BS on the transforming for growth theme. AMD was bought out by vulture management who first destroyed the company's engineering talent and now are flailing around half-heartedly trying to rebuild it.

The trouble is they simply see the products as cash-cows and have no real passion or vision for what they build. Thus they can't truly innovate and lead it back into a position of strength - they can merely keep bringing in the same old "hired guns" who are "told to fix it." But, in reality those hired guns have all of the responsibility, and none of the authority, to "actually fix it." There is a big difference between being told to fix something and actually having the authority to fix it. These folks can't fix it because they won't be allowed to.

Meanwhile the stock went from $42 per share to $2.50 per share. The move to NASDAQ reflects that reality. Thus is just another stage of "swirling down the gurgler" to further oblivion. I wish it wasn't true, but it is.

I suspect that Lisa Su - who holds a doctorate of engineering degree may have a better perspective on AMD's product needs and revenue streams than many who have passed through the doors of AMD management. Different people have been hired by AMD to achieve different goals. Rory Read's was to transform the company to a Intel free Biz model, which has been accomplished. In addition new revenue streams have been created to leverage AMD's IP. We see that in their win of all three console APUs, SoCs and ARM based processors, embedded design wins, etc.

http://www.amd.com/en-us/who-we-are/corporate-information/leadership/lisa-su

Recently AMD has also rebuilt their enterprise graphics product line which has excellent margins and growth potential. AMD's laptop graphics has seen growth even though their desktop line up has lost some ground to Nvidia. IMO what AMD needs most right now is a quantum leap in discrete desktop and server CPU performance. That would get them firing on all cylinders and provide the product diversity and volume to facilitate continued growth. I suspect however that the CPUs that AMD needs now will not arrive until some time in 2016 and by then they'll be two years too late again... even though they will likely provide great value and performance.

I hope AMD proves me wrong but execution has been the primary stumbling block for AMD for decades. They have good engineering but getting that engineering to market in a timely manner has always been a huge challenge. Recent reports are that AMD and Global Foundries have the best business relationship they've every enjoyed and that GF is producing AMD APUs, CPUs and graphics products. This could be a good sign if GF is able to deliver the products and quality that AMD desires in a time sensitive marketplace.

 

[eidairaman1]

If gf can maintain pumping out fab designs properly. They might tell tsmc to go eat a dick.

 

[HumanSmoke]

If gf can maintain pumping out fab designs properly. They might tell tsmc to go eat a dick.

AMD should have that insult down to a fine art after telling their own shareholders to do the same thing for the past eight or so years

 

[FordGT90Concept]

AMD has been a penny stock (less than $5/share) for a long time (2006 I believe) and NYSE frowns on penny stocks (AMD is at $2.49/share now). I wouldn't be surprised if NYSE told them to get out, AMD got tired of paying the high NYSE price, or, as @jigar2speed said, it's an effort to make AMD look like a better capital target.