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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (8678)	2/19/2003 8:46:32 PM
From: StanX Long	Read Replies (1) \| Respond to of 95748

It looks like someone thinks they have visibility, Stan. Lucent sees fiscal 2003 profit, names Russo chairman 2/19/2003 6:59:27 PM www2.marketwatch.com By Jon Herskovitz DALLAS, Feb 19 (Reuters) - Lucent Technologies Inc. (LU) Chief Executive Officer Patricia Russo said on Wednesday the telecommunications equipment maker was sticking by its projection of returning to profitability this fiscal year. The company announced at its annual shareholders' meeting that Russo, 50, was named to the additional post of chairman, replacing Henry Schacht, who is stepping down but will remain a director. The move had been expected. Shareholders also voted to approve giving the board of directors authority to perform a reverse share split, which would be aimed at preventing Lucent shares from being delisted on the New York Stock Exchange and reducing volatility in share-price moves. If the board decides to enact a reverse split, Lucent said it plans an action that would lift its stock price to between $15 and $25 per share. Lucent shares recently have been hovering between $1 and $2. See article for more of the article. Can someone explain this statement? ”a reverse split will drive out the weak holders," said Ronald Redfield,”