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Strategies & Market Trends : Gorilla and King Portfolio Candidates

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To: Mike Buckley who wrote (3695)	7/13/1999 12:49:00 AM
From: Eric Jacobson	Read Replies (2) of 54805

Mike, I agree with your thinking on the QCOM offering being insignificant. I own HLIT, and a little while ago they had 11 m shares outstanding and they issued 3 m more in a secondary (this was much more dilutive that QCOM's announcement). When they announced it, I thought "uh oh!" But they issued them, put $70 million in the bank, and the stock has moved up since based on the growth of the company. I do find the reasoning behind the announcement curious. Most companies issue secondaries to fund particular company needs, like expansions or acquisitions. Usually it's not related to the stock market or the needs of fund managers.

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