Shares of Exodus Communications Inc. (Nasdaq: EXDS) rallied up 9 3/16, or 9 percent, to 110 11/16 Monday after company officials announced a 2-for-1 stock split, the company's third split this year.
The split, to be effected in the form of a stock dividend, will occur on or after Dec. 14 for shareholders of record as of Nov. 30, the company said.
Following the split, Exodus will have about 170 million shares outstanding.
Exodus shares stormed up from a 52-week low of 8 1/8 last November to an all-time high of 111 7/8 earlier this month. In between, it split 2-for-1 in April and again in August.
Exodus is a provider of Internet system and network management solutions.
Its customers include the likes of Nordstrom Inc. (NYSE: JWN), Merrill Lynch & Co. (NYSE: ML) and Microsoft Corp. (Nasdaq: MSFT), which uses Exodus to run its popular free e-mail HotMail service.
First Call consensus expects it to lose 35 cents a share in its fourth quarter.
All 20 analysts following the stock maintain either a "buy" or "strong buy" recommendation.>