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Rambus Stock Rises after Media Coverage

June 19, 1997|(Bloomberg News)

Rambus Inc. shares rose 11% on a report about the Mountain View company's plans to develop an industry standard with Intel Corp. and after a venture capitalist touted the company on a TV show. Shares in Rambus, which makes products that link chips and speed communications among them, rose $4.375 to close at $43.75 on Nasdaq. Rambus shares have risen since Monday after media reports boosted the profile of the stock, Rambus Chief Financial Officer Gary Harmon said. John Doerr, a partner at Silicon Valley venture capital firm Kleiner, Perkins, Caufield & Byers, which owns Rambus stock, recommended the stock on Public Broadcasting Service's "Wall Street Week With Louis Reukeyser" show on Friday. Also, the company's plans to work with Intel on a new chip to speed memory retrieval in a computer--a project the company made public late last year--were publicized Wednesday by an article in Investor's Business Daily. Rambus went public May 14 at $12 a share and closed at $30.25 that day. It was the first company in several months to more than double in price on its first day of trading. Rambus shares then traded mostly between 30 and 33.25 until Monday.

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