The stock is going up ... here's two new press releases that might explain why ... biff
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Lead Managed IPO Capability Gives fbr.com Advantage inAttracting Customer Accounts
Online Investment Bank Plans to Spend Approximately $25 Million
In Initial Advertising Campaign
WASHINGTON, June 29 /PRNewswire/ -- Friedman, Billings, Ramsey Group, Inc. (NYSE: FBG) today announced that its online investment bank, fbr.com, will launch an initial advertising campaign to promote its services to individual investors nationwide. The Company said that while it currently plans to spend approximately $25 million in an advertising campaign over the next several quarters, its customer acquisition strategy aims to attract accounts without spending at the same levels as some of its online trading competitors.
"Online investors who are frustrated by small or no allocation of stock from other online trading and investment banking firms, will come to fbr.com for meaningful allocations of IPOs," said W. Russell Ramsey. "We have a demonstrated underwriting capability with a proven track record of 49 IPO transactions totaling $5.9 billion in dollar volume."
The Company ranked as the #1 IPO lead manager in the first quarter of 1998 and the #7 IPO lead manager in the United States for the years 1997 and 1998 combined.*
fbr.com currently offers online trading and access to IPOs and proprietary investment research to the online investor. fbr.com stands out among competing online brokers and investment banks because FBR is both a leading IPO underwriter and has made the individual online investor a major focus of its IPO strategy.
Friedman Billings Ramsey Group is an investment bank and asset manager and the parent company of fbr.com, an online investment bank and electronic brokerage. The Company is a leading underwriter of Initial Public Offerings (IPOs) and provides analyst research on 430 companies in 14 capital-intensive industries. A division of FBR Investment Services, Inc., fbr.com leverages the Company's strengths as an underwriter and asset manager by providing online investors with access to IPOs, online trading and unique asset management products. fbr.com is committed to providing excellent customer service and the best possible online trading experience. For more information, please visit our website at fbr.com.
Statements concerning future performance, developments, expenditures, negotiations or other events, concerning expectations for plans and objectives for future operations or for growth and market forecasts, and any other guidance on present and future periods, constitute forward-looking statements that are subject to a number of factors, risks and uncertainties that might cause actual events and results to differ materially from stated expectations. These factors include but are not limited to the effect of demand for public offerings, activity in the secondary securities markets, available technologies, competition for business and personnel, and general economic, political and market conditions.
* Securities Data Corporation ranked FBR #1 lead manager in first quarter
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Friedman Billings Ramsey Group Changes Trading Symbol
WASHINGTON, June 28 /PRNewswire/ -- Friedman, Billings, Ramsey Group, Inc. (NYSE: FBG) announced today that it has changed its New York Stock Exchange trading symbol from "FBG" to "FBR."
The Company's common stock will cease trading under "FBG" after the close of the market on Wednesday, June 30 and begin trading as "FBR" at the market open on Thursday, July 1, 1999 the first day of the Company's third quarter.
The Company noted that the trading symbol "FBR" became available after First Brands Corporation, which previously traded under the symbol, was acquired by The Clorox Company in January, 1999.
Friedman, Billings, Ramsey Group is an investment bank and asset manager and the parent company of fbr.com, an online investment bank and electronic brokerage. Headquartered in Northern Virginia, home to many of the world's leading online businesses, the Company has become a leading underwriter of Initial Public Offerings and provides analyst research on 430 companies. fbr.com, a division of FBR Investment Services, Inc., leverages the Company's strengths as an underwriter and asset manager by providing online investors with access to IPOs, online trading, research, and unique asset management products. For more information, please visit their website at fbr.com.
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