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Technology Stocks : FBR IPO ALERT THREAD (NYSE: FBG) -- Ignore unavailable to you. Want to Upgrade?

To: biffpincus who wrote (212)	6/30/1999 5:30:00 AM
From: swisstrader	Respond to of 1044

Stock is going up because they were on the front pg of USA Today Money section today, coupled with Wit sympathy and blistering ipo inet mkt...for complete article, go to link: No reason for smiles but hope, Net By Gary Strauss, USA TODAY ARLINGTON, Va. - Virtually no one knew of tiny Friedman, Billings, Ramsey Group when it topped Wall Street banking giants Goldman Sachs, Morgan Stanley and J.P. Morgan as the industry's dollar-volume leader of initial public offerings during the first quarter of 1998. About Friedman Billings Ramsey Who: An investment bank and online brokerage that makes a market in more than 400 securities and provides research coverage on 430 publicly traded companies. Web site: www.fbr.com. Created: By Emanuel Friedman, Eric Billings and Russ Ramsey on June 29, 1989, after the bankers at regional brokerage Johnston Lemon formed the partnership. Went public: Dec. 23, 1997. 1998 revenue (millions): $122.9. 1998 net income/loss (millions): -$16.2. Sources: Hoover's, Bloomberg News As the company celebrates its 10-year anniversary Tuesday in this unlikely financial village - a Washington, D.C., suburb home to far more federal bureaucrats than investment bankers - it still has an image problem. "Outside of a few local people and institutional investors, nobody had heard of our old company and nobody understands our new one," says FBR President Russ Ramsey. With its core underwriting business sagging, its stock trading at barely half its December 1997 offering price and the firm coming off the worst year in its short existence, FBR is remaking itself with the enthusiasm of an Up With People concert, banking on the Internet as its growth engine. FBR is wagering that fbr.com - a nascent Internet site that began offering initial public offerings to individual investors May 12 and discount trading last week - will entice 750,000 individual investors by 2002, putting it in the Net broker big leagues with E-Trade and Ameritrade. usatoday.com