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Skyworks Shares Fall on First Day of Trading

June 27, 2002|Reuters

Shares in wireless chip maker Skyworks Solutions Inc. plunged on their first day of trading under a new name following predecessor company Alpha Industries Inc.'s acquisition of Conexant Systems Inc.'s wireless chip business.

Skyworks shares, which ranked high among the market's percentage-loss leaders, ended down $1.32, or 20.9%, at $4.99, while Conexant Systems rose 14 cents, or 14.7%, to $1.09. Both trade on Nasdaq.

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