DS: I'm referring to Q, not JDSU.
From: Uncle Frank Tuesday, Sep 28 1999 2:13PM ET
Reply # of 7218
Qualcomm to Seek Authorization to Increase Shares Out Next Year
San Francisco, Sept. 28 (Bloomberg) -- Qualcomm Inc., whose stock has risen more than sevenfold
this year, plans to ask shareholders to authorize the issuance of additional shares at a meeting in
February, Chief Executive Irwin Jacobs said. 'We will be getting more shares at the shareholder
meeting,' he said in an interview at the Volpe Brown Whelan & Co. Internet and Communications
conference in San Francisco. Jacobs, who is also chairman, said the company needs to boost its
shares outstanding so more people can buy them.
Qualcomm has surged on investor enthusiasm for its chips, which are used in wireless phones than
employ code-division multiple access, or CDMA, technology. Both Bell Atlantic Corp. and Vodafone
AirTouch Plc's AirTouch Cellular unit use CDMA, which Qualcomm invented. The company also makes
chips for Globalstar Telecommunications Ltd.'s satellite phones.
February 2000 'would be our earliest opportunity to get more shares authorized,' said Julie
Cunningham, Qualcomm's vice president of investor relations. Qualcomm split its stock 2-for-1 in May |
