NetSuite sets initial stock price at $26
621712
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.
749218
NetSuite on Wednesday&#160;boosted the estimated price range for its IPO&#160;(initial public offering) for the second time in just two days, according to a filing with the U.S. Securities and Exchange Commission. The range now stands at $19 to $22, after NetSuite raised it to $16 to $19 on Tuesday.The hosted business software company initially set the range at $13 to $16.NetSuite is running the IPO as an&#160;online auction, in the same fashion of search giant Google, rather than following the traditional route of having underwriters set the price.The stock is expected to be priced after the stock market&#39;s close Wednesday. It will be listed on the New York Stock Exchange under the symbol &quot;N.&quot;NetSuite, which sells a line of hosted business software, is putting up 6.2 million shares of common stock. The company said Wednesday it believes it will net about $115.9 million from the IPO after expenses.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.&#160;
78074
Britain's Man Group Plc , the world's biggest listed hedge fund firm, said on Thursday it had set the indicative price range for the initial public offering of its U.S. brokerage business at $36 to $39 a share.
371546
InfoWorld - NetSuite's initial public offering raised $185.4 million, close to double the amount the company originally forecast the IPO would generate and a positive sign for the market of hosted, software-as-a-service business applications.
445230
Och-Ziff Capital Management, a $26.8 billion hedge fund, filed for a $2 billion initial public offering on Monday.
681728
Tokyo, Dec. 7 (Jiji Press)--Major Internet service provider Nifty Corp.  fetched the first quotation of 206,000 yen on its debut on the Tokyo Stock Exchange's second section Thursday, lower than its initial public offering price of 210,000 yen.
344925
PC Mall Inc. spin-off eCost.com Inc. priced its initial public offering at $5.80 and expects to begin trading on the Nasdaq on Friday, making its debut during a lull for IPOs that is scheduled to last through mid-September.
535180
Netsuite, Comcast, and Qwest issued strong earnings reports this week as economic worries continued to depress shares of Intel and many other IT companies.Software-as-a-service ERP company&#160;NetSuite, which had a hot IPO in December, reported a strong fourth quarter after the market closed Thursday. Revenue jumped 57 percent compared to one year earlier, to $31.7 million, beating analyst predictions of $30.5 million. Excluding one-time charges, the company reported a net loss of $0.01 per share, better than the $0.03 forecast by analysts.Before the report, company shares jumped by $0.79 to close at $23.49. In the half-hour after the report was issued, shares continued to rise in after-hours trading, by $0.51 to $24.00.Telecom sector news was largely positive this week as well. Comcast reported on Thursday a 54 percent increase in fourth-quarter profit, to $602 million, riding sales fueled by cable TV and acquisitions. Revenue rose 14 percent from one year earlier to hit $8 billion, beating the consensus forecast of $7.9 billion, as reported by Thomson Financial. Excluding one-time charges, earnings per share were $0.20, beating the analyst forecast of $0.17.CEO Brian Roberts fretted on a conference call that the economy weakened in the second half of 2007 and said he expected that trend to continue.However, investors seemed to latch on to the good news: Not only were sales strong, but company officials promised no more big acquisitions, said they would cut back exceptionally rich benefits to company founder Ralph Roberts, and reported that Comcast would pay out $6.9 billion by the end of 2009 to buy back shares and shore up its share price. The company&#39;s lagging share price has been a concern.&quot;Telephone companies are starting to sell their bundle of telephone and television and Internet and wireless[,] and that competitive threat may have investors wondering about the upcoming battle between cable television and local telephone companies,&quot; noted telecom analyst Jeff Kagan.Nevertheless, traders apparently liked the steps the company announced, apparently relieved that no big acquisition plans are in the offing. Shares rose by $1.43 to close at 19.24.Earlier in the week, shares of Qwest also rose on upbeat earnings news. On Tuesday, Qwest shares gained $0.15 to close at $5.28 after lower operating expenses helped bring fourth-quarter net income to $366 million, up from $194 million a year earlier. Despite the soft economy, average revenue per consumer rose as the company succeeded in expanding the number of subscribers it has for bundles of services.Though there was good cheer on the earnings front, probably more emblematic of the mindset of IT investors this week was the hit that Intel took Thursday after Goldman Sachs removed the company from its &quot;conviction buy&quot; list. The brokerage kept its &quot;buy&quot; rating on the company but said the chip maker faces slow PC sales growth and consequent difficulties in maintaining or expanding margins.The Goldman report came a few days after&#160;Forrester Research dropped its U.S. IT growth forecast to 2.8 percent from 4.6 percent and its global forecast to 6 percent from 9 percent. Forrester forecasts spending on PCs, servers, storage devices and peripheral markets will drop to 4 percent from 12 percent last year.Intel shares declined Thursday by $0.75 to close at $20.46.Earnings-report season is winding down with most big IT vendors having reported strong sales for the fourth quarter of 2007. Tech-company shares, however, are for the most part trading lower than they have since 2006, as investors remain wary of a recession and a subsequent slump in IT spending.In this climate, investors remain sensitive to macroeconomic data. A report about strong January retail sales caused the Nasdaq Composite Index, weighted heavily with tech stocks, to jump 2 percent Wednesday, its biggest one-day jump since November. But Thursday, Federal Reserve Chairman Ben Bernanke addressed the Senate Banking Committee, mentioning weakness in the housing, employment and credit markets. Markets plummeted again, with the Nasdaq closing at 2332.54, down by 41.39, or 1.74 percent.IT investors will be watching when Hewlett-Packard reports quarterly earnings Tuesday. HP, the world&#39;s largest IT company as well as the biggest PC supplier, has broad consumer and business market reach. Remarks by company executives on how the next few quarters are shaping up are sure to be closely scrutinized.
290651
Two months after ending a licensing deal with Oracle Corp., midmarket business applications vendor NetSuite Inc. is using its entry-level software relaunch to woo customers of Intuit Inc.'s QuickBooks.
468706
NetSuite on Wednesday&#160;boosted the estimated price range for its IPO&#160;(initial public offering) for the second time in just two days, according to a filing with the U.S. Securities and Exchange Commission. The range now stands at $19 to $22, after NetSuite raised it to $16 to $19 on Tuesday.
53214
Wells Fargo Securities raised the target price on PeopleSoft (nasdaq: PSFT - news - people ) to $26, following Oracle&#39;s increased bid of $24 per share for the enterprise software company.
647585
Google's share price has been set at 85 dollars in its initial public offering, a company spokeswoman said.
665050
- Data storage company EMC Corp.'s  subsidiary, VMware, said it expects its initial public offering to be priced between $23 and $25 per share.
723296
Prudential Equity Group maintained an &quot;overweight&quot; rating and a $26 target price for Check Point Software Technologies (nasdaq: CHKP - news - people ). &quot;The company suggested that although InterSpect might
115688
By Kim Peterson, The Seattle Times  Sep. 5--Seattle digital-storage company Isilon Systems filed Friday to  raise as much as $86.25 million in an initial public stock offering.   The company has applied to be known under the symbol "ISLN" on the Nasdaq  stock market.
400419
Beacon Roofing Supply Inc. saw its shares jump nearly 22 percent in its first day of trading Thursday after the company priced its initial public offering at the midpoint of its expected $12 to $14 price range.
250206
The health-care software company has a splashy debut on Wall Street.