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15-7 Splits 1

15-7 Splits 1 - Juniper Ariba set Stock Splits on Heels of...

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Juniper, Ariba set Stock Splits on Heels of IPO Source: Wall Street Journal, 17 November 1999 What do you do when your share price climbs above $200 just a few months after an initial public offer- ing? Split, of course. Telecommunications-equipment maker Juniper Net- works Inc. and electronic-commerce software maker Ariba Inc. announced stock splits, joining a growing list of Internet-related start-ups. In Juniper's case, news of the impending 3-for-1 split sent shares up 16%, meaning they have risen nearly tenfold since an initial offering in June. Shares that Juniper initially sold for $34 were trading at $328.50, up $45, at 4 p.m. in Nasdaq Stock Market trading. That gives Juniper, which has recorded $61 million in lifetime revenue, a market value of about $17 billion. Investors have been attracted by rapid growth in the market for Juniper's superfast switches for routing traffic across the Internet. Chief Financial Officer Marcel Gani said Juniper,
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