Thanks mi amigo.
My pleasure!
And from WSJ:
interactive.wsj.com@6.cgi?mfmuse/text/autowire/data/BT-CO-20000720-007708.djml/&NVP=&template=atlas-srch-searchrecent-nf.tmpl&form=atlas-srch-searchrecent-nf.html&from-and=AND&to-and=AND&sort=Article-Doc-Date+desc&qand=&bool_query=sdli&dbname=%26name1%3Ddbname%26name2%3Ddbname%26name3%3Ddbname%26period%3D%3A720&location=article&HI=
SDL Up -2: Shrs Of Acquirer JDS Uniphase Up 20%
By PAULA L. STEPANKOWSKY
LONGVIEW, Wash. -- Stock in SDL Inc. (SDLI), a San Jose, Calif., fiber optic network component maker, was trading up 18% Thursday, a jump the company's chief financial officer attributed to the announcement that JDS Uniphase Corp. (JDSU) would join the Standard & Poors 500 Index.
Last week, JDS Uniphase announced it agreed to acquire SDL, which had been its biggest rival in the booming fiber-optic component market, in a stock deal then valued at $41 billion.
The S&P 500 announcement came after the market closed Wednesday.
"We're kind of like a hybrid JDS Uniphase stock right now, or it appears to be trading that way," SDL Chief Financial Officer Mike Foster said.
JDS Uniphase stock was trading up 20% on Thursday, also likely on the news of its addition to the S&P 500, Foster said.
Stocks typically increase in price when it is announced they are being added to the S&P 500 because they get more exposure and because of index trading associated with the S&P 500.
Foster said SDL is scheduled to announce its second-quarter earnings after the market closes Thursday. He said the market may perceive the release as "ho-hum" after the merger announcement. But he said SDL stock will trade independently until the deal closes.
SDL stock was trading at 427 5/16 recently, up 67 11/16, or 18.8%, from Wednesday's close. JDS shares were trading at 127 9/16, up 20 13/16, or 19.5%.
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Pat |
