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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Bux who wrote (36657)	7/21/1999 10:48:00 PM
From: Ruffian	Respond to of 152472

Bux, QUALCOMM Incorporated (Nasdaq: QCOM) today announced that it has placed 6.9 million shares of its common stock in a public offering, through its underwriters, at $156.50 per share, resulting in net proceeds to the Company of approximately $1.079 billion. The joint book-running underwriters for the offering were Lehman Brothers and Goldman, Sachs & Co.

To: Bux who wrote (36657)	7/21/1999 10:52:00 PM
From: Sawtooth	Read Replies (1) \| Respond to of 152472

Good post, Bux. Nice way to wrap up the evening. G* launches four more birds in 3 days. Things are cookin' all the way around and the Q's banquet will be delicious.

To: Bux who wrote (36657)	7/21/1999 11:34:00 PM
From: Wyätt Gwyön	Respond to of 152472

I wish the offering was twice the size. That would put some real fear in Q's competitors. This is the first post I have seen that directly mentions Q's competitors. After all "it's a war out there", and a cool billion is not going to sit in CDs for long. Others have stated it here with more background or more eloquently, but it is a useful thought exercise to consider what the Ericssons and Nokias of the world are thinking about today as Qualcomm latches onto some serious cash in exchange for stock trading close to its all-time high. I am reminded of when Amazon issued their billion-dollar convertible offering earlier this year. Certainly there was much wailing and gnashing of teeth as the dread words "capital-intensive" crossed the analysts' lips, but just think how their competitors felt. That war chest has indirectly killed a lot of prospective ecommerce plays at the venture stage due to fears of going up against Amazon. Similarly, one can imagine Q's management eyeing different areas of the world as critical points where early leader status and capital strength will pay back in spades. I for one am putting my trust in management on this one, and eagerly await details regarding their intended uses for the new capital.