Established 1999
 
8,000 companies from
USA,Canada and India.
 
   
Search over 25,000 News & Earnings Archives    
 
Market Update : 
Hard Week for IPOs
Author: Yordanka Bahchevanska
123jump.com
Last Update: 5:36 PM EDT July 02 2006


(Continued)

Email article | Print article

Retailer J. Crew Group, which surged 28% on its first day, was the only bright spot in the IPO market this week. Two other IPOs priced below forecast range, one was amended with a downgraded forecast range, and three others were postponed or withdrawn. Stock markets have tumbled since May on worries about inflation and interest rates.

 
Goldman Sachs, Thomas Weisel Partners and Cowen & Co., the lead underwriters on the deal, have an option to buy up to 1.4 million additional shares to cover excess demand.

The company’s shares closed at $15.37 on Friday, up 2% from the initial offering price.

Online business software provider Omniture Inc. (OMTR: chart) on Tuesday priced an initial public offering worth about $69.6 million.

The 10.7 million share offering sold for $6.50 per share, below a forecast range of $7.50 - $9.

Shares of Omniture rose less than 1% in their first day of trading Wednesday.

Omniture provides software and services that allow customers to collect and analyze information generated by their Web sites. Its customers include Apple Computer Inc. (AAPL: chart), eBay Inc. and Major League Baseball.

Morgan Stanley, Credit Suisse, Deutsche Bank Securities and J.P. Morgan were the lead underwriters on the deal.

For the three months ended March 31, Omniture''s net losses widened to $3.4 million, or 24 cents loss per share, from net losses of $2.7 million, or 20 cents loss per share a year ago.

Omniture was offering 8.7 million shares and selling shareholders were offering 2 million shares.

In addition, the company has granted the underwriters the right to purchase 1.6 million additional shares of common stock to cover over-allotments.

The company’s shares closed at $15.80 on Friday, up 12% from the initial offering price.

PGT Inc. (PGTI: chart) on Tuesday priced an initial public offering worth about $123.5 million.

The approximately 8.8 million share offering sold for $14 per share, below an expected range of $16 - $18.

The North Venice, Florida-based company''s products combine heavy-duty aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris.

Deutsche Bank and J.P. Morgan were the lead underwriters on the deal.

The company’s shares closed at $7.29 on Friday, up 21% from the initial offering price.

Louisville-based company Replidyne (RDYN: chart) went public Wednesday selling 4.5 million shares at $10 a piece, raising $45 million.

The stock rose 10% on its first day of trading.

The company cut the price to $10 from the original range of $14 - $16 a share earlier on Wednesday and trimmed the offering size to 4.5 million shares from 5 million shares.

The company’s shares closed at $10.38 on Friday, up 3% from the initial offering price.

DECLINERS:

Ethanol provider Aventine Renewable Energy (AVR: chart) made the second IPO of the week with lifted pricing after J. Crew rallied in its first day of trading.

The 9.1 million-share initial public offering, which is about 22% stake of the company, was priced at $43 per share, at the high end of a $40 - $43 forecast range, also on Wednesday.
  1  2  3

 


 

350 Fund Managers Interviews - 10-year Annual earnings on 4,600 U.S. companies - 20-quarter Earnings on 3,800 U.S. companies - 3,200 U.S. IPO Prospectuses
- 2,100 Economic data releases from U.S., EU, UK, India, HK and Australia. 10-year Annual reports on 3,500 U.S. companies -
U.S. Earnings Calendar with 4,800 companies - 90,000 10-K reports - 26,000 Global markets news archive - 2,200 Earnings Conference Call Summaries

© 1999-2008 123jump.com. All rights reserved