Ravisent
cbs.marketwatch.com
Malvern, Pa.-based Ravisent opened at 18 1/2, well above the $12 price for its 5 million shares. Underwriter Bear Stearns set the price at the middle of its $11 to $13 per share. It's on tap to raise $60 million.
Last month, the company changed its symbol from "DVCR" to "RVST" (RVST: news, msgs) and dropped its old name, Divicore.
Its competitors include National Semiconductor (NSM: news, msgs), Zoran (ZRAN: news, msgs) and Sigma Designs (SIGM: news, msgs).
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biz.yahoo.com
Shares of software company Ravisent Technologies Inc. (Nasdaq:RVST - news), whose products essentially allow computers to behave something like VCRs, surged 58 percent in its first day of trade on the Nasdaq.
The company's stock rose $7 to $19 from its $12-per-share offering price, before settling back at $17 in midday trade.
Ravisent priced 5 million shares in the middle of its $11-to-$13 per share range with Bear Stearns as the lead underwriter.
Ravisent's software products allow the recording and playback of digital versatile disc or DVD, high definition television or HDTV, and other multimedia formats on personal computers and consumer electronics.
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