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Technology Stocks : Cadence Design Systems

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To: dr_elis who wrote (626)	2/10/2000 5:34:00 PM
From: Ian@SI	Read Replies (1) of 668

Missed this Press Release yesterday... February 9, 2000 Cadence Design Brd Clears Buyback Of Addl 15M Shrs SAN JOSE -- Cadence Design Systems Inc.'s (CDN) board authorized the repurchase of an additional 15 million shares effective immediately. The company has about 243 million shares outstanding. In a press release Wednesday, the company said 5 million of the shares newly authorized for repurchase are for the company's 2000 stock option plan; 10 million will be acquired for general corporate purposes. The company was previously authorized to repurchase a total of 13 million shares for its its 1997 stock option plan and 13.4 million shares for its employee stock purchase plan. Cadence supplies software and design services to electronics makers, Shares closed Wednesday on the New York Stock Exchange at 22 9/16, down 7/16 or 1.9% on composite volume of 1.2 million shares.

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