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Technology Stocks : Buying IPOs on the open market -- Ignore unavailable to you. Want to Upgrade?

To: Brasco One who wrote (3619)	10/21/1999 5:26:00 PM
From: Kimberly Lee	Read Replies (1) \| Respond to of 5529

nice mention of AETH from Reuters: Wireless data services firm Aether climbs in deubt NEW YORK, Oct 21 (Reuters) - Shares of wireless data services provider Aether Systems Inc. (NASDAQ: AETH) nearly tripled Thursday in its debut following its $16 a share initial public offering amid the enthusiasm for wireless data companies. "Wireless data services--that is the buzzword for telecom. All the smart money, big money and well-heeled money. They are looking to make a head-first dive right into this," said David Menlow, president of IPO Financial Network about the interest. Shares of the Owing Mills, Md.-based firm were last up 29 at 45 on the Nasdaq with 5.7 million shares trading hands. Its shares shook off the decline in the overall market, which was rattled by IBM Corp.'s (NYSE: IBM) profit warning. Aether's initial focus is the financial services industry. It provides real-time data services like price quotes and news to systems such as Reuters MarketClip Holdings Sarl, a unit of news and information company Reuters Group Plc . The wireless data services firm raised $96 million through its offering of 6 million shares, or a 23 percent stake in the company. The deal, which was led by Merrill Lynch, was priced above its expected price range of $13-15. Competitors include Bell Atlantic Mobile, AT&T Wireless (NYSE: T), Microsoft Corp.(NASDAQ: MSFT) and IBM Corp. Some industry watchers had expected good things for the company, but were surprised at the aftermarket jump. "I expected good things, but didnt expect this especially on a day like this. It's a segmented market," said Irv DeGraw, research director at WorldFinanceNet.com, referring to Aether's performance despite the impact of IBM's warning. "People who are doing IPOs are not the people doing blue-chips. For the right kind of IPO, they are out there regardless of the market."