“The stock opened trading higher by as much as 9%, but by 11:37 a.m. Tuesday was settling a bit at around a 7.1% jump to $32.40 a share,” Coleman reports.
Coleman reports, “Sister Motorola Solutions (MSI) was trading slightly down at $37.40 a share.”
Full article here.
The Associated Press reports, “Although Motorola began by making car radios, TVs and cell phones, the company has since expanded into police radios and barcode scanners aimed at government agencies and large businesses. The company has become increasingly diverse, and the breakup that began in 2008 is motivated by the desire to present two simple businesses to investors rather than one complicated one.”
“In a 1-for-7 stock split, Motorola shareholders of record on Dec. 21 received one share of Mobility and seven shares of Solutions for every eight shares of Motorola Inc. they already held,” AP reports. “People who already owned shares in Motorola have already been trading stock in the newly formed companies on a “when issued” basis for almost a month. Those shares became official Tuesday.”
Read more in the full article here.
Protecting their “posterior”?
Well if Motorola can do a 7 for 1 stock split why can’t Apple. I want my stock split! Having four quarters makes me so much richer than having just a buck!
@ Beemer
It’s a 1-for-7 *reverse* split. You want 1 share for every 7 you have? That would be even better!
When you are in freefall like Motorola, plummeting towards the earth at terminal velocity, deploying your reserve chute by splitting yourself in two only delays the inevitable.
Alas, another icon of technology bound for the grave. In 3 years there will be no more Motorola just like there is no more Eastman Kodak. Gone and bitten the dust.
So long Droid X, we loved you well but like the ghost of Hamlet walk no more on this earth.
See, when the Mobile side inevitably fails, the Services side does not go into the crapper as well.
Sounds like the bright guys at Moto all worked for the Services side.
wow, I was seriously expecting motorola fall guy or motorola scapegoat, make a fake company lumbered with all the debt and the rest with all the good stuff
YES! Now my dad is no longer in rivalry with Apple. He’s in Motorola Solutions.
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Just one question….
“How are they gonna compete with us?”
lol
Motorola manufacturing police radios is not old, but ancient news. They already built professional walkie talkies when I was a kid, that’s 0.55 centuries ago.
Motorola is splitting into oblivion.