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Technology Stocks : Lucent Technologies (LU)

LU 2.580

+1.2%

11:25 AM EST

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To: Anonymous who wrote (20983)	10/18/2002 10:06:36 AM
From: Bridge Player	Read Replies (2) of 21876

Lucent to seek reverse stock split By Jeffry Bartash, CBS.MarketWatch.com Last Update: 9:42 AM ET Oct. 18, 2002 MURRAY HILL, N.J. (CBS.MW) - To boost the price of its flagging shares, Lucent Technologies said Friday it plans a reverse stock split. NEWS FOR LU Lucent to seek reverse stock split Chip woes hammer tech issues More news for LU The struggling telecommunications-equipment maker said it would put the plan to a shareholder vote at the company's next annual meeting in February. Under the plan, Lucent would issue one share for an unspecified number of shares, resulting in a post-split stock price of $15 to $25 a share. Lucent's move echoes that of rival Nortel Networks (NT: news, chart, profile ), which recently announced plans for a reverse stock split. Also on Friday, Swedish vendor Ericsson announced plans for a stock split.

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