Large percentages, large numbers.<g>
12/10/2002
Last Change Volume Ave. Daily Volume
MXO $5.73 +24.3% 9,378,900 1,490,681
WDC 7.39 +11.6% 4,651,700 2,308,045
RDRT 0.72 +20.0% 1,390,520 747,000
Higher, Lower.<g> STK's institutional holdings reports will definitely make for interesting reading during the next 6 months.
Seagate IPO offers risks, rewards
Fund manager sees the deal as expensive
By Steve Gelsi, CBS.MarketWatch.com
Last Update: 4:48 PM ET Dec. 10, 2002
NEW YORK (CBS.MW) -- Seagate Technology is resisting attempts by institutional investors to bid the price down below $12 per share, and IPO trader said late Tuesday as the $1 billion deal was getting ready to go to market.
"The word is the company won't take below $12 per share," said Sal Morreale, an IPO trader for Cantor Fitzgerald.
Investors are attempting to get a discount below the $13 to $15 price range in the wake of a report in Barron's that insiders on the deal paid less than $2 per share to take the disk drive maker private two years ago, Morreale said.
"The IPO will probably get done, but it'll just get done, and that's it," he said.........
marketwatch.com |
