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business/tech Monday, February 14
Plugged In
Compiled by staff
Monday, February 14, 2000
Dell beefed up by IPOs
Its own stock may be struggling, but Dell Computer Corp. scored Friday in the initial public offerings of two e-commerce companies.
WebMethods Inc. skyrocketed $177.63, or 508 percent, from its opening price of $35 per share to finish its first day of trading at $212.63.
Dell invested in the Fairfax, Va., company in November and owns 2.45 million shares, or 8 percent of the stock, according to filings with the Securities and Exchange Commission. That represents a cool gain of at least $424 million, depending on Dell's purchase price.
Dell also did well with Lante Corp., a Chicago-based company, whose shares rose $34.94 from the $20 opening price to close at $54.94. Dell bought 2 million shares in December for $11 a share, according to SEC filings. Dell's gain: $87.9 million. |
