September 6, 2000 |
One famous man's reportedly huge losses at the gaming tables in Las Vegas are giving an unexpected boost to shareholders of casino giant MGM Mirage. MGM Mirage isn't talking, but reports that Australia's richest man, media tycoon Kerry Packer, supposedly lost $20 million in July while gambling at the company's Bellagio casino had some Wall Street analysts crowing that MGM Mirage has hit a jackpot of its own. The stock (MGG) jumped $1.44 to $35.69 on the New York Stock Exchange on Tuesday.
October 24, 2003 |
Google, the 5-year-old company that redefined the way people search the Internet, is actively seeking bankers to help it sell shares of the company to the public, according to people familiar with the situation. An initial public offering of Google shares has long been rumored and investment banks have tripped over themselves for years trying to persuade the company to do so.
August 30, 2001 |
Securities firm Thomas Weisel Partners is firing 80 employees, mostly in investment banking, on expectations that the slump in business at the technology-focused securities firm will continue into next year, a company spokesman said Wednesday. San Francisco-based Weisel plans to fire the employees, about 10% of its staff, this week to reduce costs as fees from advising on mergers and arranging initial public offerings dry up, a company spokesman said.
August 22, 2001 |
NextWave Telecom Inc. said Tuesday that it has received a $2.5-billion loan commitment from UBS Warburg to help build a wireless data transmission network, contingent upon the bankrupt carrier gaining control of disputed U.S. airwaves. The Hawthorne, N.Y.-based company, which won a similar $300-million commitment from Qualcomm Inc. last week, also hired the Swiss-owned investment bank to help complete a bankruptcy reorganization plan that might raise $5.5 billion.
May 30, 2002 |
Investment banker W.R. Hambrecht & Co. brought the latest initial public stock offering to market Wednesday, in another test of the bank's controversial "open-auction" IPO system. Overstock.com, a Salt Lake City firm that sells discounted electronics, sportswear and other products over the Internet, raised $39 million by selling three million shares at $13 each. The stock (ticker symbol: OSTK) will begin trading today on Nasdaq.
July 31, 2003 |
Mobile telephone operator Cingular Wireless agreed to buy some wireless-spectrum licenses from NextWave Telecom Inc. for about $1.4 billion, people familiar with the matter said. The sale, which must be approved by U.S. Bankruptcy Court, would give NextWave its first income from licenses that it won in Federal Communications Commission auctions in 1996. The U.S. Supreme Court in January rejected an FCC effort to reclaim them from NextWave.
June 8, 1999 |
Los Angeles-based brokerage firm Wedbush Morgan Securities will announce today a plan to sell initial public offerings to individual investors via the Internet. Wedbush Morgan plans to follow in the footsteps of high-profile upstarts such as Wit Capital Corp. and W.R. Hambrecht & Co., which have specialized in making IPOs available electronically to small investors. Previously, brokerage houses doled out coveted IPOs only to powerful institutional investors such as mutual funds.
December 9, 1999 |
The third time seemed to be the charm Wednesday for San Francisco investment bank W.R. Hambrecht & Co.'s innovative "OpenIPO" system, given the successful initial public offering sold by Acton, Mass.-based Andover.net Inc. through lead underwriter Hambrecht. Shares of Andover.net (ticker symbol: ANDN), which runs a network of Web sites about the Linux computer operating system and other so-called open-source software, more than tripled in their trading debut Wednesday on Nasdaq to close at $63.
June 6, 2001 |
Former Hewlett-Packard chief Lew Platt is ending his short second career at Kendall-Jackson Wine Estates as founder Jess Jackson has decided to take the company off the market. Platt, 60, was hired in January 2000 as chief executive to restructure the Santa Rosa, Calif.-based firm, one of the largest wineries in the country, and get it ready for a public offering or sale to a large international company that could further its global expansion plans.