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Stock Splits

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.
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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 15, 2000 | P.J. Huffstutter
The stock price of Broadcom Corp., the high-flying Irvine chip developer, jumped $3.19 a share to close at $171.75 Monday after the company's previously announced 2-for-1 stock split took effect. The stock split is Broadcom's second since going public in the spring of 1998. The first split occurred last February. Broadcom has 104.6 million shares outstanding and a market capitalization of nearly $35.8 billion.
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.
CALIFORNIA | LOCAL
February 8, 2000
Jerry's Famous Deli Inc., Studio City, said it has filed a request with Nasdaq to remain listed until Jerry's can complete a 1-for-3 reverse stock split, the company said. Nasdaq requires that a stock price exceed $1 to be listed on the SmallCap Market. Nasdaq has given the company until Feb. 15 to meet this requirement. The company operates Jerry's Famous Deli restaurants.
BUSINESS
January 22, 2000
Research Engineers Inc., a Yorba Linda provider of engineering software services, said its board has approved a 2-for-1 stock split to be paid Feb. 7 to shareholders of record Jan. 31. The stock was one of the best performers in Orange County last year, increasing more than ninefold. On Friday, the shares hit a 52-week high of $63.75 before closing at $62.75, up $5.38. Last January, the stock was trading at less than $3 a share.
BUSINESS
January 8, 2000 | Bloomberg News
Ants Software.com postponed a 2-for-1 stock split scheduled for next week, sending its shares down 19%. Chairman Fred Pettit said the company changed its position on the planned move, announced Dec. 22, because shareholders haven't approved the split or authorized the necessary increase in outstanding shares. Shares in Ants, which says its product can speed computer software, fell $4 to close at $17.25 in over-the-counter trading.
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