Insider selling.
thetelecommanalyst.com
GLOBAL CROSSING (GBLX) ? Between April 10 and 13, a group of 11 insiders sold a total of 3.9
million shares at prices ranging from $31.00 to $33.20 a share. Barry Porter, a senior vice president,
and David Lee, president, each sold 1.2 million shares. Other sellers in the executive suite included:
Gary Winnick, chairman, 29,628 shares; Lodwrick Cook, co-chairman, 300,000 shares; Thomas
Casey, vice chairman, 207,663 shares, and Dan Cohrs, chief financial officer, 91,163 shares.
GLOBAL CROSSING insiders do not sell very often. The recent sales took place after GLOBAL
CROSSING?s stock fell below its 200-day moving average for the first time since November 1999. The
shares close at $25.31 on May 26.
RF MICRO DEVICES (RFMD) ? Over the past year, this leading manufacturer of integrated circuits
for wireless equipment has been one the best-performing stocks in the telecom sector, rising to a
high of $175 on March 3, 2000 from around $20 last May. The stock fell after that and during the
decline, three insiders sold a total of 36,500 shares from April 26 to 28 at prices between $80.94 and
$103.00 a share. The sellers included: Arthur Geissberger, vice president of wafer fabrication
operations, 19,000 shares; William Priddy, chief financial officer, 12,500 shares, and Jerry Neal, vice
president of sales and marketing, 5,000 shares. RFMD shares closed at $90 on May 26. |
