Evolving Systems (EVOL) Approves 1-for-2 Reverse Stock Split Jul 1, 2009 04:09PM

Evolving Systems, Inc. (NASDAQ: EVOL) today announced that its Board of Directors has approved the implementation of a one-for-two reverse stock split of the Company's common stock. The reverse stock split, which was authorized by the stockholders at the Company's 2009 annual meeting of stockholders on June 9, 2009, will take effect at 11:59 p.m. (Eastern time) on July 20, 2009. Trading of Evolving Systems' common stock on the Nasdaq Capital Market will continue, on a reverse stock split-adjusted basis, with the opening of the markets on July 21, 2009.


Rite Aid (RAD) Regains Compliance with NYSE Price Listing Rule; Won't Do Reverse Stock Split Jul 1, 2009 01:50PM

Rite Aid Corporation (NYSE: RAD) today received notice from the NYSE that the company has regained compliance with the exchange's share price listing requirement.

Rite Aid regained compliance after its closing share price on June 30, 2009 and its average closing share price for the 30-days of trading ending June 30, 2009 were both above $1.00. The company, which has continued to trade on the NYSE, is now in compliance with all NYSE listing rules.

The company also said it does not intend to implement the reverse stock split its Board of Directors and stockholders had approved to regain compliance with the share price listing rule.


American Physicians Capital (ACAP) Approves 4-for-3 Stock Split; Adds Another $20M Authorization Under 10b5-1 Plan Jun 23, 2009 12:14PM

American Physicians Capital, Inc. (NASDAQ: ACAP) today announced that its Board of Directors has declared a four-for-three stock split of its common shares to shareholders of record as of the close of business on July 10, 2009. Shares resulting from the stock split are expected to be distributed to shareholders on July 31, 2009. Fractional shares will be settled in cash based on the average of the high and low sale prices per whole share reported on the NASDAQ National Market on the record date.

"This will be our second stock split since going public in December 2000," said President and Chief Executive Officer R. Kevin Clinton. "This action by our Board reflects the strong financial performance of the Company and our belief that we will continue along this profitable path into the future." The stock split will increase APCapital's common shares outstanding from approximately 8.1 million to approximately 10.8 million.

APCapital also announced today that it has completed its $20 million authorization approved on December 11, 2008 under its 10b5-1 stock repurchase plan, and the Company's Board of Directors approved another $20 million authorization under its 10b5-1 plan.

"We continued to take advantage of the volatile stock market during the first half of this year by repurchasing 794,500 shares as of yesterday under our share repurchase program at an average price of $40.61 per share," stated President and Chief Executive Officer R. Kevin Clinton. "We strive to maintain a flexible, but effective capital management strategy that delivers maximum returns to our shareholders. Our stock repurchase plan continues to be an integral part of our overall capital management strategy."


Auto Suppliers Lower As No Additional Govenment Aid Seen (LEA, ARM, AXL) Jun 17, 2009 12:34PM

Shares of auto suppliers are seeing pressure today on reports that the Obama administration has denied the $8-$10 billion in additional aid that industry trade groups were asking for. Lead Obama advisor Ron Bloom told the groups that plenty of support has already been provided and he didn't see a need for further government action.

According to reports from Dow Jones, Dura Automotive Sytems' CEO Tim Leuliette said he expects a flurry of supplier bankruptcies over the next 60 days. Leuliette said, "There is no more money out there and that is the reality."

The trade groups will continue to lobby Congress for help.

Auto Supplier Stocks:


  • - American Axle (NYSE: AXL) -10%
  • - Lear Corp. (NYSE: LEA) -2.3%
  • - ArvinMeritor Inc. (NYSE: ARM) -14%
  • - BorgWarner Inc (NYSE: BWA) -1%
  • - Dana Holding (NYSE: DAN) -8%%
  • - TRW Automotive (NYSE: TRW) -1%
  • - Tenneco (NYSE: TEN) -3%

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Domtar (UFS) Authorizes 1-for-12 Reverse Stock Split Jun 1, 2009 10:01AM

Domtar Corporation (NYSE: UFS) announced today that its Board of Directors has authorized the implementation of a reverse stock split at a 1-for-12 ratio of its outstanding common stock.

The Company's indirect subsidiary, Domtar (Canada) Paper Inc. (TSX:UFX), authorized an equivalent reverse split of its outstanding exchangeable shares.

The reverse stock split, which was approved by stockholders at the Company's Annual Meeting held on May 29, 2009, will be effective at 6:01 p.m. (ET) on June 10, 2009 (the "Effective Time").


More Stock Splits

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May 26, 2009 04:50PM GTC Biotherapeutics (GTCB) Files For 1-to-10 Reverse Stock Split
May 26, 2009 07:48AM American Commercial Lines (ACLI) Announces Effectiveness of 1-For-4 Reverse Stock Split
May 19, 2009 08:35AM Green Mountain Coffee (GMCR) Announces 3-for-2 Stock Split
May 19, 2009 08:25AM AmerisourceBergen (ABC) Announces 2-for-1 Stock Split, Plans To Raise Dividend
May 18, 2009 09:31AM Coeur (CDE) Announces 1 for 10 Reverse Stock Split
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