Vic, I don't know if WCI is superbly managed but it appears its good company to work for.
<<BONITA SPRINGS, Fla., Jun 24, 2002 (BUSINESS WIRE) -- WCI Communities, Inc. (NYSE: WCI chart, msgs), has been recognized as one of the homebuilding industry's best employers. In its June issue, Professional Builder magazine ranked WCI among the 101 best companies to work for in the residential construction industry. WCI was one of only three south Florida builders to be named to the prestigious list.>>
Last Update: 4:10 PM ET July 2, 2002
NEW YORK (CBS.MW) -- Upstart airline JetBlue led a crop of 51 initial public offerings in the second quarter with a gain of 68.7 percent as of the end of the period on Friday.
As the technology, telecom and biotech sectors wilted in the overall market, a sampling of more traditional companies such as defense contractors gained traction among stock debutantes.
Still, despite sweeping losses throughout the overall market, the average IPO managed to eke out a gain of 6.5 percent as of the end of the quarter, according to IPO tracking firm Dealogic.
That compares to a loss of 11 percent by the Dow Jones Industrial Average and a 21 percent retreat by the Nasdaq in the second quarter.
JetBlue (JBLU: news, chart, profile) debuted at $27 per share on April 12, and closed out the second quarter at a percentage-leading $45.56. In a recent presentation, the chief executive officer of JetBlue cited the company's customer service and overall passenger experience in its success. See full story.
PayPal (PYPL: news, chart, profile) is the second biggest second-quarter gainer with a rise of 55.4 percent. The provider of online financial transactions is one of the few Internet, or tech-flavored IPOs to post big gains.
WCI Communities (WCI: news, chart, profile) is third with a rise of 52.3 percent. The developer of upscale housing subdivisions tapped into strength in the real-estate sector.
Aeropostale (ARO: news, chart, profile) advanced 52 percent by the end of the quarter to take the fourth slot. The seller of clothes aimed at young people turned in one of the strongest opening days for a retailing stock as it lured investors with its positive bottom line.
The fifth, sixth, seventh and eighth-ranked IPOs for the quarter are all from the defense sector. ManTech International (MANT: news, chart, profile) is up 49.94 percent, followed by SRA International (SRX: news, chart, profile) with a gain of 49.89 percent.
Veridian (VNX: news, chart, profile) rose 41.88 percent by the end of the quarter, and Anteon International (ANT: news, chart, profile) has delivered a gain of 40.44 percent.
CTI Molecular Imaging (CTMI: news, chart, profile) rose 34.94 percent to take the No. 9 slot. The medical equipment maker makes positron emission tomography imaging equipment to help diagnose disease.
Integrated Defense Technologies (IDE: news, chart, profile) finished in No. 10 with a gain of 33.77 percent.
Travelers Group (TAP.A: news, chart, profile) was the largest IPO of the quarter with proceeds of about $3.9 billion. It came in 36th overall with a loss of 4.32 percent.
A total of 18 of the 51 IPOs for the quarter ended the period with their shares below their offering prices.
Among them are DOV Pharmaceutical (DOVP: news, chart, profile), down 68.5 percent, Plumtree Software (PLUM: news, chart, profile), down 41.41 percent, and Printcafe Software (PCAF: news, chart, profile), down 50.7 percent. |
