NetSuite Shares Surge in Debut
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NetSuiteâs shares surged more than 36 percent in their stock market debut as investors latched on to the online business software service backed by billionaire Larry Ellison.
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Billabong International&#39;s shares surged yesterday after the surfware giant pushed its profit growth forecasts up to 30 per cent.
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The pioneer in pay-to-play enterprise software has seen its stock more than double since going public in August.
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By Robert Weisman, The Boston Globe  Feb. 16--Shares of Salary.com surged 19.05 percent in its opening day of  trading yesterday after the Waltham compensation software and consulting firm  raised $60 million in an initial public offering.
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Shares of Network Appliance jumped more than 11 percent during Wednesday&#39;s trading after the storage maker reported a robust 38 percent rise in first quarter revenue.
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NetSuiteâs shares priced at $26 apiece late Wednesday, far above the expected price range of $13 to $16 that it initially reported in its registration to go public.
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In the most highly anticipated Wall Street debut since the heady days of the dot-com boom, shares of Google surged nearly 20 percent on their first day of public trading Thursday as the quirky Internet company completed its much-hyped initial stock ...
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NetSuite priced its initial public offering at $26 per share, raising $161 million for its online business software service.
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NetSuite on Wednesday set the initial price of its stock at $26, greatly exceeding its original estimate.The company is selling 6.2 million shares of stock. It said in a filing with the U.S. Securities and Exchange Commission that the proceeds from the sale would net it $151.9 million after expenses.NetSuite, which sells a line of hosted business software, company initially set the suggested price range for its stock at $13 to $16, and&#160;subsequently raised it&#160;to $16 to $19 and&#160;then $19 to $22. The stock is now trading on New York Stock Exchange under the symbol &quot;N.&quot; After rising to $39.01, shares had dropped to $25.76 at 10 a.m. Eastern Time.The company set the price by running an&#160;online &quot;Dutch&quot; auction, in the same fashion of search giant Google, instead of having underwriters set the price.Scott Sweet, managing director of IPOboutique.com, a firm that tracks the IPO market and offers investment advice, said NetSuite is greatly overvalued as a result of the auction.&quot;Once again the Dutch auction concept failed to live up to its self-described mantra as being a better conduit in the pricing of an IPO by the investors than the standard method of pricing by the underwriters,&quot; he said in an e-mail message Thursday. &quot;In past Dutch auction deals, and it appears the same in this case, investors put in overzealous high bids to &#39;beat&#39; others in a scramble to get shares. In doing so, it is highly likely that it has greatly diminished the IPO&#39;s performance and highly overvalued the company.&quot;NetSuite has said it plans to use proceeds from its IPO to pay off an $8 million balance on a line of credit with Tako Ventures, an entity controlled by Oracle CEO Larry Ellison, and to possibly make acquisitions.Ellison controls about 60 percent of NetSuite&#39;s outstanding stock -- some 31.9 million shares.NetSuite said Wednesday that Ellison has now completed the transfer of those shares into a holding company, NetSuite Restricted Holdings. The move is meant to &quot;effectively eliminate&quot; Ellison&#39;s voting power and avoid potential conflicts of interests, NetSuite said.
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NetSuite Inc, a software maker  majority-owned by Oracle Corp  Chief Executive Larry  Ellison, on Tuesday raised the estimated price range for its  initial public offering to $16 to $19 per share and said it is  conducting the IPO as a modified Dutch auction.
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Sovereign Bancorp Inc.  shares surged early on Friday after a report that a looming boardroom battle could prompt the ouster of company chief Jay Sidhu and potentially put the big Philadelphia bank into play.
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Investors are wowed by the firmâs first quarterly earnings report since it became a publicly-owned company, which showed sales and profit more than doubled in the third quarter.
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U.S. stocks surged on Monday, with the   Nasdaq rising more than 1 percent, as oil prices and benchmark   interest rates hit multi-month lows, improving the outlook for   corporate profits.
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Takeover stories started to re-emerge as the FTSE 100 posted its first meaningful rise since the turmoil in global markets started last week.
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Stocks rose sharply on Tuesday, driving the Nasdaq composite index more than 1 percent higher, as overseas equities rebounded and investors bet that markets may be stabilizing after recent heavy losses.
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NetSuiteâs initial public offering raised $185.4 million, close to double the amount the company originally forecast the I.P.O. would generate.
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Star-struck Wall Street gave a  dazzling welcome to DreamWorks Animation SKG Inc. on Thursday,  sending the shares of the animated film maker up more than 38  percent in their market debut.