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

To: marginmike who wrote (36660)	7/21/1999 10:50:00 PM
From: Ruffian	Read Replies (1) \| Respond to of 152472

Theory From Yahoo> My Q consipracy theory - whatcha think? by: gourmandier (35/M/Pacific NW) 27273 of 27275 (1) MM's and institutions slowly and quietly accumulate large quantities of Q stock over the last few days (clue: Q up yesterday even though rest of market down; blowout earnings notwithstanding) and hold in their accounts. (2) Having accumulated several million shares, the Big Money Boys dump them all on the market at 3:30 PM today with the successful intent of driving Q's closing price and therefore the price of the secondary down. The effect is like a jet engine sucking up a big flock of seagulls - it stalls and flames out. (3) The MMs/institutions realize a small profit for their accumulated shares and reap a BIG $5-10 lower price for their 6.9M secondary shares. They go home to their estates in the Hamptons and laugh over martinis and illegal Cuban cigars. (4) As usual, we get screwed (at least for the moment). Anyone wanna fly this over to SI and see what they think about it?

To: marginmike who wrote (36660)	7/21/1999 11:00:00 PM
From: RoseCampion	Read Replies (2) \| Respond to of 152472

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. If I'm allowed a question rather than a rant on this auspicious day <g>: $156.50 times 6.9M is almost exactly $1.079B. But that's not really the "net proceeds" to Q, is it? Don't we have to subtract out the 3% underwriting fee and the other (minor) filing, legal, and banking fees? Wouldn't that make the total 3-5% or so less? -Rose- PS: It wouldn't take more than a small fraction of that to make up for my losses today - think I should email IR and ask? <vbg>