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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 163.30-1.1%2:46 PM EST
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To: METMAN who wrote (36947)7/23/1999 7:57:00 AM
From: JohnG  Read Replies (1) of 152472
 
J Goren--Concerning the stock offering (which I understand should not be called a "secondary" because it consists of previously unowned shares rather that mgt owned shares, Is there any way to know how it went. They were sellling into a turbulant down market ( and they had no choice in this matter, given the time schedule to complete the quarterly financials and Mr. Market's fickle twist and possible late summer effect). I have assumed that, with Lehman and Goldman Sachs doing the banking, they did place all 6.9MM shares. However, if some were unplaced as of the next AM when the price bounced down I wonder id they would have been purchased on the open market rather than direct.

Of course, the contrary conspiracy theory is that Institutons decided to let Q settle lower in a down market to facilitate shaking stock out of weak hands. For example, hid you notice that a huge share of yesterday's transactions were retail rather than institutional--don,t have %--just glanced at graph.
JohnG
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