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Technology Stocks : Foundry Networks, Inc. FDRY -- Ignore unavailable to you. Want to Upgrade?

To: dav who wrote (85)	9/26/1999 7:10:00 PM
From: techstocker	Read Replies (2) \| Respond to of 1225

foundry Networks mines for gold By John E. Fitzgibbon Jr. Redherring.com September 25, 1999 The safety net under Wall Street's initial public offerings aerial circus is the Nasdaq Composite. As long as the Composite holds, the show goes on. Listed on this week's new issue calendar are 29 IPOs, expected to raise $2.5 billion. Internet offerings remain featured attractions, but the skyrocketing aftermarket extravaganza of last week isn't expected to recur this week. Nevertheless, a few IPOs may see their prices soar, even possibly landing in Redherring.com's Hall of Fame, a list of companies whose stock price doubles or better on their first day of trading. Potential rockets include Calico Commerce, Foundry Networks, and Internap Network Services, all Internet deals. Other Internet offerings also could do very well in the aftermarket (see our IPO calendar for more). Despite some of the sensational aftermarket price actions, however, it still takes more than a dot-com for an IPO to shoot the moon. For details of our top picks, see the charts page. PICKS OF THE WEEK Goldman Sachs (NYSE: GS) expects to offer 3.93 million shares of Calico Commerce between $12 and $14 each. The San Jose, California-based company provides electronic-commerce software and services, which enable customers to make online purchases of complex products. The comanagers are Merrill Lynch (NYSE: MER), Hambrecht & Quist (NYSE: HQ), and Wit Capital (Nasdaq: WITC). The deal is scheduled to be priced Monday night for Tuesday's trading. Deutsche Bank Alex. Brown is lead manager for a 5 million share offering of Foundry Networks, with shares expected to be priced from $14 to $16. The Sunnyvale, California-based company makes high-performance LAN and WAN switches and switch routers, and also offers network-management software and product support. Listed among Foundry Network's clients are Mitsui, America Online (NYSE: AOL), and Hewlett-Packard (NYSE: HWP). The comanagers are Merrill Lynch and J.P. Morgan (NYSE: JPM). The IPO will be priced Monday for Tuesday's trading.