Working Cylinders a Plus in This Contest
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What does it take to win over the hearts and portfolios of online investors? Whatever it is, Newport Beach-based Conexant Systems Inc. appears to have found at least part of it.
The company, which this year was spun off from Rockwell International Corp., was named by Individual Investor Online as its “Stock of the Day.”
IIO, which is a feature of the finance section of Yahoo!, is run by Bob Hirschfeld. A Conexant representative asking about the criteria for the “Stock of the Day” was told that selection is “totally subjective.”
According to a Conexant internal e-mail that recounted the conversation, Hirschfeld said that “we appear to have a CEO (Dwight Decker) who has ‘4 out of 5 cylinders firing . . . and that’s refreshing.’ ”
The effect of the endorsement, however, has been minimal. Since the company was honored by Hirschfeld’s organization March 17, the stock has remained steady at $23.50.
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