Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Tony Viola who wrote (106847)	8/3/2000 12:14:34 PM
From: Road Walker	Read Replies (1) \| Respond to of 186894

Bad day for Intel; good day for Intel Capital: Thursday August 3, 12:09 pm Eastern Time Resonate more than doubles in Nasdaq debut NEW YORK, Aug 3 (Reuters) - Resonate Inc. (NasdaqNM:RSNT - news) shares more than doubled Thursday after the company, which provides Internet services management software, began trading on the Nasdaq. Stock of the company, which counts Intel Corp. (NasdaqNM:INTC - news), Flatiron Partners and Lehman Brothers (NYSE:LEH - news) as investors, surged to 45-1/2, up 24-1/2 from its offering price. The increase made it the top percentage gainer on the technology- loaded Nasdaq. The Nasdaq stumbled 1.66 percent to 3,597. Resonate priced its offering at $21 per share, above the company's raised price range, according to underwriter Goldman Sachs. The company had boosted the estimated price range to $17-$19 per share from $15-$17 per share. Resonate raised $84 million from the sale of 4 million shares, revised from the original prospectus, which called for a 3 million share IPO. Resonate plans to use the money for working capital and general corporate purposes and to fund anticipated operating losses. The Sunnyvale, Calif.-based company has net loss of $24.2 million and total revenue of $8.3 million for the six months ended June 30, compared with a net loss of $6.8 million and a total revenue of $3.6 million in the year-ago period. Resonate has a market capitalisation of $1.2 billion based on 26.5 million shares outstanding and current stock price.