Initial Public Offerings And Their Sympathy Plays Message Board

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Technology Stocks : Initial Public Offerings And Their Sympathy Plays

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To: GBT who wrote ()	9/20/1999 9:35:00 PM
From: GBT	Read Replies (1) of 7

KANA IPO---------MSTG looks to be a good play here. 15:15 ET ****** IPO Profile : Electronic direct marketing software developer, Kana Communications (KANA), is one of more than a dozen initial public offerings tentatively scheduled to hit the market this week.. The 3.3 mln share Goldman Sachs led deal is expected to price as early as tomorrow evening, which would allow the stock to begin trading Wednesday... Kana's software enables companies to manage high volumes of inbound and outbound e-mail and Website-based communications. Customers include eBay, eToys, priceline.com, Ford Motor, Northwest Airlines and Chase Manhattan Bank. For the 1st-half of 1999, no customer accounted for more than 10% of total revenues... Total top line for the six months ended June 30 was $3.6 mln, compared to yr-ago revenue of $0.66 mln. Net loss increased from $2.4 mln to $9.8 mln. Company expects losses to increase even more significantly as a result of additional costs associated with recent Connectify acquisition and increases in hiring.... Potential secondary plays include Mustang Software (MSTG 7 3/4 +1 9/16), SilkNet Software (SILK 42 3/4 -2 1/8) and MessageMedia (MESG 12 7/16 -1/8). Action in MSTG today, suggests investors/traders already positioning themselves in stock in anticipation of the offering...

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