Never heard of them. Until today at 345pm. Then they were stedily on the bid and a tick over the ask.
Looks like S3 wants the market to know that a buyback is underway. S3 gave the analysts/ MMs / shorts something to sleep on.
Thought that the conference call was interesting. ALL of the top tier analysts were there. They can sense the upside at S3 but are afraid to be burnt by the graphics business again.
Highlights: -shares outstanding 92m 98m diluted. -non-gfx rev fy99 200m expect 300-350m fy00. -rev was 65/35 gfx/non-gfx this qtr. -huge penalties if Via deal falls through or gets delayed. deadline 6/29. -expect a convertible debt offering @ mid-year based on the UMC shares. S3 gets $$$$ for investment from this. Delays tax liabilty from direct sale. Allows S3 to keep strategic stake in UMC (e.g.- access to capacity). -Flash memory remains on allocation. -Rioport mgmt in place. Now it is in a position to begin discussions w/ bankers regarding approaching equity mkts. -S3's top priority is the sale of the board business. Discussions underway with many of the same parties to the gfx sale discussions(6). This deal could be structured as a partnership.