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Stock Splits

BUSINESS
May 4, 2000 | Dow Jones
Powerwave Technologies Inc. shares fell 12.5% Wednesday on profit taking and general weakness in technology stocks. Better-than-expected earnings released in mid-April and a series of positive ratings from analysts helped propel the Irvine company's stock to a 52-week high of $222 on Monday, but the stock's sharp gains over the last two weeks prompted investors to take profits Tuesday and Wednesday, market observers said. The company's shares slipped $25.19 to $176.
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BUSINESS
April 29, 2000 | Marc Ballon
Day Runner Inc., the struggling maker of daily organizers and planners, said Friday that its board of directors authorized a 1-for-5 reverse split of the company's stock. Under the reverse split, the Fullerton company would turn its total of more than 11.9 million shares outstanding into nearly 2.4 million shares. Day Runner said in a press release that it took the action to comply with Nasdaq listing requirements and "maintain its current listing."
BUSINESS
March 29, 2000 | Dow Jones
The value of Powerwave Technologies Inc. rose 12% Tuesday after the company filed a proxy statement about its plans for a three-for-one stock split and an increase of authorized shares to 135 million from 40 million. Shares of the Irvine maker of power amplifiers for wireless communications rose $17.75 Tuesday to close at $168.88 a share.
CALIFORNIA | LOCAL
March 21, 2000
MRV Communications Inc. in Chatsworth has announced a special shareholders meeting May 10 to approve a two-for-one stock split and an increase in authorized common stock from 80 million to 160 million shares. Assuming approval by the stockholders of the stock split and the increase in authorized common stock, the record date for the stock split will be May 11. Post-split trading is expected to commence May 29.
BUSINESS
March 11, 2000 | Bloomberg News, Times Staff
Investors are practically doing cartwheels over companies doing stock splits. Rambus Inc. (RMBS), which develops technology to make computer chips work faster, said Friday that it will split its shares 4-for-1, and the news sent its stock up 11% to a record. The Mountain View, Calif., company's shares surged $41.55 to $421. The split, expected to occur May 24 for shareholders of record March 30, will be the company's first since it sold shares to the public in 1997 at $12 apiece.
BUSINESS
March 1, 2000
KleenAir Systems Inc.'s directors have approved a 2-for-1 split in the Newport Beach company's surging stock. The shares, which have soared more than tenfold so far this year in over-the-counter trading, hit a 52-week high of $21 on Tuesday before settling back to close at $19, up $5, or nearly 36%. About a year ago, the stock hit a low of 25 cents a share. The split will take the form of a 100% stock dividend to be distributed March 20 to shareholders of record March 15, the company said.
BUSINESS
February 24, 2000
California Software Corp., a Santa Ana maker of IBM migration products, said Wednesday that its board has approved a 2-for-1 stock split and will file for a listing on the American Stock Exchange in 30 to 40 days. Migration products help older computer systems operate like newer ones.
BUSINESS
February 11, 2000
Newport Corp. said Thursday that its directors approved a 3-for-1 split of the company's common stock, subject to stockholder approval for increasing the number of authorized shares to 75 million from 20 million. The Irvine maker of computer, communications and research instruments said in a press release that, under the split, stockholders would receive two additional shares for each share of common stock held as of May 17, the scheduled date of the company's annual stockholders meeting.
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