Lousy follow-through this afternoon...
Here's an item about Endwave:
cbs.marketwatch.com
Endwave
Endwave (ENWV: news, msgs) opened at $14, even with
its IPO price. Shares failed to budge from their
opening price on midday volume of 5.3 million shares.
It priced its 6 million shares in the middle of its
$13 to $15 range.
The Sunnyvale, Calif., company is raising $84 million
with lead underwriter Deutsche Banc. Alex. Brown to
boost its wireless Internet subsystems business.
TRW (TRW: news, msgs) owns about 53 percent of the
company. Shares of the company rose 44 cents to
$37.44.
Wireless systems integrators that use Endwave's
products in their broadband wireless systems include
Allgon, Hughes Network Systems, Nokia, Nortel
Networks, P-Com, Rockwell International, Toshiba
America and WinNet MCS.
Endwave's products are designed to boost the
efficiency of wireless networks by removing
bottlenecks, increasing the speed of deployment, and
providing greater economies of scale.
Ben Holmes of IPOPros is enthusiastic about Endwave, a
spin-off of industrial giant TRW. He pointed out that
Microtune, which plays in the similar arena, has seen
its stock double in the past three months.
Charles Rotblut of WallStreetCity.com tapped Endwave
as his pick of the week.
As discussed here recently, STXN spent $6 million on 10/02/00
to buy a minority stake in Endwave at $14/sh. Endwave had
their IPO yesterday, also priced at $14/sh.
Rob |
