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Earthlink sets stock split
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July 1, 1998: 12:03 p.m. ET
Shares rise more than 11 percent on Internet provider's 2-for-1 split
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NEW YORK (CNNfn) - Shares of Internet service provider Earthlink Network Inc. soared Wednesday after the company announced it is splitting its stock two-for-one.
Earthlink (ELNK) shares jumped 9, or nearly 12 percent, to 85-3/4 in late-morning trading.
The Pasadena, Calif.-based company said the split is payable July 20 to shareholders of record July 15.
The split will increase Earthlink's shares outstanding from approximately 14.1 million to approximately 28.3 million.
(Click here to see a chart of Earthlink's 52-week stock activity)
Earthlink is the second big-name Internet service provider in the past six days to see its shares surge after announcing a stock split. Last week, Mindspring Enterprises Inc. (MSPG) jumped nearly 18 percent after announcing a three-for-one split. 
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Earthlink
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