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CNET News.com: Transmeta surpasses estimates with $273 million IPO

Nov 07, 2000, 00:53 (2 Talkback[s])
(Other stories by Michael Kanellos)

"The price fetched by Transmeta's stock was well above the range of $16 to $18 set Friday and demonstrated that investors continue to view the company in a positive light."

"Transmeta designs microprocessors for notebooks and Internet devices that consume less power than competing processors from Intel and Advanced Micro Devices. The stock was sold to pension and mutual funds and will be exchanged in the public market tomorrow under the symbol "TMTA."

"Although the company's patent portfolio and design wins with major manufacturers such as Sony have excited investors, Transmeta has recently had to contend with a spate of less than positive news."

"Analysts have said that recently released benchmarks indicate the company's Crusoe processors don't provide substantial power-saving advantages over current Intel chips. IBM also acknowledged last week that it has suspended plans to build a Crusoe-based ThinkPad notebook."

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