January 6, 1993 |
Smaller companies are issuing stock to the public for the first time at a record clip, with some of these shares rising as much as 50% in price within hours after their offering. But some analysts are concerned that individual investors may be snapping up these shares just as the market may be close to peaking. Surges in new stock issues often signal that the initial public offering market is overheating, said Robert S.
December 6, 1987 |
1987, which began as the best of years for initial public stock offerings, became the worst in memory overnight as the stock market collapsed. "It's a scene of devastation," said Paul Simmonds, research director for the Institute for Econometric Research, the Largo, Fla., publisher of the IPO Letter. "Offerings have been withdrawn, prospectuses aren't being printed, institutions aren't buying. The market's dead in the water."
March 1, 1995 |
The Supreme Court on Tuesday limited the scope of a federal law that allows people who believe they were misled before buying stocks to rescind the deal if the sellers cannot prove their innocence. The justices ruled 5 to 4 that such legal rights are available only to people who buy a stock directly from a company during its initial public offering, not to those who buy later on the stock market.
July 28, 1992 |
If investors need another example of why initial public stock offerings are risky investments--and they don't--Xircom Inc. is a case in point. Xircom is a 4-year-old Calabasas company that makes electronic components to link personal computers--particularly portable "notebook" or laptop computers--with other computers, printers and databases that make up so-called "local area networks." Such networks are increasingly common in offices and factories. The company, whose fiscal year ends Sept.
May 23, 1996 |
Shares in Saks Fifth Avenue's holding company rose 39% in their first day of trading Wednesday as investors sought to cash in on the booming market for luxury goods. Saks Holdings Inc. stock rose $9.625 to close at $34.625 in New York Stock Exchange trading of 11.6 million shares, making it the second-most active issue in U.S. markets. Saks sold 16 million shares, a 26% stake, at $25 each to raise $400 million. "We knew it was going to go up, but not like this.
November 21, 1995 |
Cosmetics giant Revlon Inc., taking its cue from the highly successful public launch by competitor Estee Lauder Cos., said Monday it plans to hold an initial public offering early next year. Investor Ronald Perelman, who owns 100% of Revlon through the holding company MacAndrews & Forbes, will retain control of the company. Analysts are already predicting the issue will be a hit and said Revlon, one of the largest U.S.
July 27, 1996 |
Two Orange County companies took the plunge into a rough stock market Friday, floating initial public offerings with mixed results. First Alliance Corporation, an Irvine-based lender specializing in home mortgages for high-risk borrowers, raised $59.5 million with its sale of 3.5 million shares on the Nasdaq exchange. The stock closed its first day of trading at $18.63 after opening at $17 a share.
June 17, 1997 |
Fears of a bear market may have kept the lid on first-time stock offerings early this year, but suddenly that's changed. Investors have shown a renewed appetite for initial public offerings, or IPOs, in recent weeks, as the market indexes hit new records and fears of interest rate hikes begin to vanish, at least for the near term. So companies are again eager to offer new shares. Last week was the hottest for IPOs this year. On Tuesday, the year's biggest IPO, a $997.
November 1, 1996 |
Ingram Micro Inc.'s long-delayed but hotly anticipated public stock offering was priced Thursday at $18 per share as the world's largest computer products distributor prepared for its trading debut today on the New York Stock Exchange. After months of turmoil, including the hasty departure earlier this year of the company's longtime chief executive, Ingram Micro stands to collect about $360 million from the stock sale, minus underwriting fees, to help pay off debts and finance expansion.
June 9, 1999 |
C. Everett Koop, the stern but grandfatherly surgeon general who preached to the masses through the 1980s to practice safe sex and stop smoking, became a multimillionaire Tuesday by riding the hottest sermon of the 1990s--getting wired. Koop's 11% stake in a consumer health-care Web site called Drkoop.com suddenly became worth $56 million after the Austin, Tex.-based Internet company went public. Drkoop.com Inc., which lost $9 million last year, closed at $16.44 on Nasdaq, up $7.