www.cnbc.com/id/42212417.
It was 14 companies, old report though now.
Reverse Stock Splits Are Usually Good for Investors: Report
Lori Spechler
Tue, 22 Mar '11 | 3:07 PM ET
CNBC.com
New research indicates that reverse stock splits are usually good for investors.
According to a new report by Cleve Rueckert, Birinyi Associates senior equity strategist, there have been 14 stocks in the S&P 500 since 2000 that have undergone a reverse stock split. Of those fourteen stocks, twelve were higher one year after the effective date of the reverse split, two were lower. The average gain was a gigantic 62.55 percent.
The best performer: Titanium Metals . Titanium Metals rallied 350% in the year following the effective date of its 1:10 reverse stock split on February 18th, 2003.
The worst performer: Tyco . Tyco lost 25% in the year following the effective date of its 1:4 reverse stock split on July 2, 2007.
Citigroup announced a 1:10 reverse stock split Monday, effective after the close of trade May 6, 2011.
Here is the full list:
Reverse Stock Splits
Company
Stock Split
Effective Date
Pct. Change 1yr
Lab Corp.(LH)1for 10 5/4/00 121.49%
Raytheon (RTN) 1 for 20. 5/15/01 51.64%
Titanium Metals (TIE)1 for 10 2/18/03 350.95%
Priceline.com (PCLN) 1 for 6 6/16/03 9.71%
Intuitive Surgical (ISRG)1 for 2 7/1/03 29.78%
CBS Corp. (CBS) 1 for 2 1/3/06 20.61%
JDS Uniphase (JDSU)1 for 8 10/17/06 -5.48%
Tyco (TYC) 1 for 4 7/2/07 -25.00%
Discovery Comm (DISCA)1 for 2 9/18/08 114.34%
Time Warner Cable (TWC) 1 for 3 3/13/09 90.32%
Time Warner Inc. (TWX) 1 for 3 3/30/09 84.87%
American Intl Gr (AIG)1 for 20 7/1/09 87.39%
E*Trade Financial (ETFC)1 for 10 6/2/10 2.80%
Motorola Solutions (MSI)1 for 7 1/4/11 4.83%
Source: Birinyi Associates