Sounds like $40 a share is on the horizon... Dow Jones news item...
DoubleClick Inc. Up 15% On 2nd-Offering Road Show - Analyst
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By Brian Steinberg
NEW YORK (Dow Jones)--Shares of Internet-advertising firm DoubleClick Inc. (DCLK) gained more than 15% in Tuesday trading on what one analyst suspected was buzz generated by the company's ongoing road show for its second offering.
According to Ken Winston, an analyst with Needham & Co. in Boston, DoubleClick executives stopped in Boston on Monday and are in the mid-Atlantic states Tuesday to discuss a proposed offering of 2.5 million shares of common stock. Winston said DoubleClick could raise more than $100 million through the offering.
"They're talking about some of the new products they're going to come out with," the analyst said. "It's a very exciting story, and investors are getting excited about it, and buying ahead of the offering."
Shares of DoubleClick, based in New York, fell back a little in trading earlier, up 14.7%, or 4 3/4 to 37 1/8 from 32 3/8 on Nasdaq-listed volume of 819,700. Average volume is 1,031,255.
All the shares in the offering would come from the company. Underwriters are Goldman, Sachs & Co., BT Alex. Brown, Donaldson, Lufkin & Jenrette and Salomon Smith Barney Inc.
A DoubleClick spokeswoman wasn't immediately available for comment.
- By Brian Steinberg; 201-938-5218; brian.steinberg@cor.dowjones.com |
