Conexant Selected to Join Nasdaq-100 Index; Recognizes Company's Technology Leadership and Broad Communications Semiconductor Product Portfolio.NEWPORT BEACH, Calif.--(BUSINESS WIRE)--July 12, 1999-- Conexant Systems Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CNXT) Monday announced that it has been selected to join the Nasdaq-100 Index (NDX NDX Index NDX Index (File Name Extension) NDX Northern Document Exchange NDX Index File ), effective July 14, 1999. The Nasdaq-100 Index represents the largest and most active stocks listed on The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. across major industry groups, including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology. "We are honored to join the Nasdaq-100 Index and believe our selection recognizes Conexant's position as the world's largest pure-play communications semiconductor company and the leadership role we are playing in developing next-generation communications technologies for the industry's fastest growing markets," said Dwight W. Decker, chairman and chief executive officer of Conexant. "Inclusion in the Nasdaq-100 Index will raise Conexant's visibility within the financial community and broaden our investor base." The Nasdaq-100 Index, launched in January 1985, rose more than 80 percent in 1998, although past performance is not necessarily indicative of future performance. The Nasdaq-Amex Market Group, which operates the Nasdaq Stock Market(R) and the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. (R) (AMEX AMEX See: American Stock Exchange (R)), is a subsidiary of the National Association of Securities Dealers National Association of Securities Dealers (NASD) Nonprofit organization formed under the joint sponsorship of the investment bankers' conference and the SEC to comply with the Maloney Act, which provides for the regulation of the OTC market. Inc. (NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). (R)), the largest securities-industry, self-regulatory organization Self-regulatory organization (SRO) Organizations that enforce fair, ethical, and efficient practices in the securities and commodity futures industries, including all national securities and commodities exchanges and the NASD. in the United States. The union of Nasdaq(R) and AMEX creates the world's first financial market that brings together central auction specialist and multiple Market Maker systems. Conexant Systems Inc. is the $1.2 billion company that was created when Rockwell International Corp. spun off its semiconductor systems business to shareowners in December 1998. Conexant is the world's largest independent company focused exclusively on providing semiconductor products for communications electronics. With more than 30 years of experience in developing communications technology, the company draws upon its expertise in mixed-signal processing to deliver integrated systems and semiconductor products for a broad range of communications applications. These products facilitate communications worldwide through wireline voice and data communications networks, cordless and cellular wireless telephony systems, personal imaging devices and equipment, and emerging cable and wireless broadband communications networks. The company aligns its business into five product platforms: Personal Computing, Personal Imaging, Wireless Communications, Digital Infotainment, and Network Access. |
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