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Market Savvy: Midyear Report | SAVVY CONFIDENTIAL /
A BRIEFING FOR INVESTORS

Ticker Talk

July 01, 1999|Bloomberg News

Among new and recent California public offerings Wednesday:

* Camarillo-based Salem Communications Corp. (ticker: SALM), which operates religious radio stations, sold 8.4 million shares at $22.50, higher than the expected range of $19 to $21, in a deal led by Deutsche Banc Alex. Brown and ING Baring Furman Selz. Redwood City-based Clarent Corp. (CLRN), meanwhile, sold 4 million shares at $15, the top of its expected range, in a deal led by Credit Suisse First Boston.

* Seminis Inc. (SMNS), the world's largest vegetable and fruit seed company, was little changed in its first day of trading after its initial stock sale raised less than expected. The Saticoy-based company, controlled by Mexico's Savia, inched up 6 cents to close at $15.06 on Nasdaq.

* Shares of GoTo.com Inc.(GOTO), the Pasadena-based Internet search service that went public June 18, surged 21% as the company said it added more users during the month. GoTo.com stock jumped $4.94 to close at $28 on Nasdaq. GoTo.com said it drew 10 million monthly users for the first time in June.

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