Meade Stock Will Split 2-for-1

Meade Instruments Corp., a telescope and binocular maker that has seen its stock surge nearly sixfold in the past year, will split its shares 2-for-1. The split will occur about June 19 for shareholders of record May 22. The Irvine company will have about 16.4 million shares outstanding after the split, its first since it went public in 1997. Meade shares on Friday rose $3.50, or 5.1%, to $72.50 in Nasdaq trading. The stock moved up 77% in one day in March after Meade said it will supply components to high-speed networking start-up TeraBeam Networks.