Microsoft Aids New Nasdaq High
Greed Is Good
December 17, 1999
by Bob Beaty
The Nasdaq hit a new high Friday--the 22 percent weekly gain in Microsoft (MSFT: +1 9/16, 115 1/4) helped)--although the index faded significantly from its best levels just prior to the close. The Nasdaq ended the day up 38.07 to 3,753.13. The Dow, although it hit a new interday high (11,383), missed the brass ring and closed the week's "triple witching project" ahead 12.54 to 11,257.43.
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Dividends, Buybacks and Splits, Oh My: Canadian FiberOptic Rocket JDS Uniphase announced (JDSU: -7 5/8, 242 1/4) a 2-for-1 split by way of a stock dividend on Dec 29. Silconix (SILI: +6 1/2, 135) was up on a 3-for-1 split/stock dividend on Feb. 28. CMGI (CMGI: -9 13/16, 211 3/4) fell after a 2-for-1 split announcement on Jan. 11. CMGI split twice in 1999. CNBC and NBCi owner General Electric (GE: +4 7/16, 152 1/16) plans to split 3-for-1, increase its dividend 17 percent and increase its stock buyback to 22 billion--now that's impressive. Software maker Vitria Tech (VITR: - 4 3/4, 177 3/4) will split 2-for-1 on Jan. 17 and CD3 (CDDD: + 6.50, 62) goes 3-for-1 Jan. 15.
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