March 11, 2000 |
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.
CALIFORNIA | LOCAL
March 7, 2000
MRV Communications Inc., Chatsworth, announced a two-for-one stock split of its outstanding common stock and an increase in its authorized common stock from 80 million to 160 million shares, subject to stockholder approval. After the stock split, the number of number of common shares outstanding will be approximately 57.1 million, the company said. MRV Communications develops fiber optic technology and Internet infrastructure.
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.
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.
February 15, 2000 |
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.
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.
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.
January 8, 2000 |
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.
December 28, 1999 |
Sony Corp. on Monday joined the growing list of companies announcing stock splits. And as with most other split announcements lately, this one sent the stock soaring to new heights--even though the split won't happen until May. Sony, the consumer electronics giant and maker of the best-selling PlayStation home video-game machine, said its board approved a 2-for-1 stock split effective May 19. The company's New York Stock Exchange-traded shares, which track shares traded in Tokyo, zoomed $18.
December 25, 1999 |
From trusty blue chips to red-hot tech issues, U.S. companies in record numbers are capitalizing on market euphoria by splitting their shares like Yule logs bound for the holiday hearth. Investors have responded positively, bidding share prices up even further, and stoking the eye-popping run-up seen on the U.S. stock markets in the last two months. On Thursday, the three leading gauges of U.S.