|reply to FFH |
Re: Is it really short sighted investors?
I copied this from a Verizon Newscenter Release:
NEW YORK - On Monday, Nov. 20, Idearc Inc. common stock will begin trading in the regular way market on the New York Stock Exchange (NYSE) under the symbol "IAR."
The previously announced spin-off of Idearc to shareholders of Verizon Communications Inc. (NYSE:VZ) was completed today, and Idearc now owns what were the Verizon domestic print and Internet yellow pages directories publishing operations. Verizon distributed a dividend of one share of Idearc common stock for every 20 shares of Verizon common stock held as of 5 p.m. on Nov. 1 (the "Idearc Stock Dividend").
This accounts for a 5% devaluation on Nov.20th Which would put Friday`s close near the 52 -week high.