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Technology Stocks : juno.com (JWEB)----IPO -- Ignore unavailable to you. Want to Upgrade?

To: freeus who wrote (112)	6/22/1999 9:15:00 PM
From: SJS	Read Replies (1) \| Respond to of 510

Juno Online shares quiet no more Newly public ISP screams back above offering price By Darren Chervitz, CBS MarketWatch Last Update: 12:15 PM ET Jun 22, 1999 Movers & Shakers IPO Report SAN JOSE, Calif. (CBS.MW) -- Out of the quiet period and into screaming mode. That's where shares of newly public Juno Online Services (JWEB: news, msgs) headed Tuesday morning, frolicking 28 percent higher, up 3 15/16, to 18 1/16 after closing above its initial offering price for the first time on Monday. The Internet service provider had a disappointing debut back in May, when it closed below its $13 offering price on the first day of trading. "Any day you go up 25 percent, it's a good day, but it's an especially good feeling to get out of the hole," said Charles Ardai, president of Juno Online. The company offers various levels of Internet access to customers, ranging from a free account offering only e-mail to full Web surfing capabilities. More than 3.1 million distinct users signed onto the Juno service in the three-month period ended in February, according to the company's IPO filings. Since the company's debut, Juno Online executives have had to keep their mouths basically shut due to the quiet period associated with regulations from the Securities & Exchange Commission. That 25-day post-IPO period ended Monday, and analysts following the company at PaineWebber, Bear Stearns and Salomon Smith Barney started coverage of the stock at a "buy." All of the banks helped bring Juno public. "There was no news [in the analyst reports]," Ardai said. "They basically said the kinds of things we talked about in the road show." Getting out of the quiet period is an important event for Juno, which has been fairly silent throughout its three-year history. The company was started by the notoriously secretive hedge fund operator D.E. Shaw and relied mainly on word-of-mouth for its pre-IPO growth. But on June 1, the company launched its first national television advertisements, and plans to increase its exposure with radio spots and direct mail in the near future. "It's the beginning of what we intend to be a very aggressive campaign," Ardai said. Concentric Network (CNCX: news, msgs) may also have given provided the stock a slight boost after the Internet service provider announced expanded deals with Williams Communications (WMB: news, msgs) and Microsoft (MSFT: news, msgs). Most Internet service providers rose Tuesday.