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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (20742)	10/26/2004 4:14:19 PM
From: russwinter	Respond to of 110194

Both the Nov 175 and 180. Here's come the IPO supply: Associated Press Shopping.com IPO Soars 53 Percent Tuesday October 26, 2:13 pm ET Shopping.com Stock Soars 53 Percent in Its Trading Debut, NEW YORK (AP) -- Investors quickly bought up shares of online comparison-shopping service Shopping.com Ltd. in its Tuesday trading debut, sending the stock skyrocketing as much as 55 percent while another new stock slumped in its opening. Shopping.com Ltd. surged in the opening minutes of its debut, recently trading at $27.50, up 53 percent, or $9.50, from its initial public offering price of $18 per share. NorthStar Realty Finance Corp. dropped 5 percent, or 44 cents, to $8.56 after pricing its IPO at $9 per share. The two stocks lead off a busy week for IPOs, with 10 more deals expected to hit the market in the next few days. Other companies set to price this week include DreamWorks Animation SKG Inc., which is using its $700 million offering to break away from parent movie studio DreamWorks LLC. Israel-based Shopping.com sold about 6.9 million shares and priced its deal at the high end of an expected $16 to $18 range, raising $123.7 million in the IPO. Shareholders offered 1.8 million shares, while the company sold 5.1 million shares to bring in $91.8 million, which it intends to use for working capital. The company originally filed to sell about 7.8 million shares at $14 to $16 each. Shopping.com last month cut the size of its deal, but on Monday fueled optimism by raising its estimated price range to $16 to $18 a share. Goldman Sachs & Co., Credit Suisse First Boston, Deutsche Bank Securities and Piper Jaffray managed the deal, and have the option to buy up to 1 million extra shares to cover over-allotments. The company's shares are listed on the Nasdaq as "SHOP." Shopping.com, the most popular comparison-shopping site on the Web, made its trading debut almost four years after a failed attempt to go public in late 2000, withdrawing its IPO plans as the tech sector imploded and scores of Internet firms shut down. The company's site lets users compare features and prices of products sold by online retailers. The service is free for shoppers; Shopping.com generates revenue by charging merchants to list their items on the site, as well as through commissions each time a user clicks on a link. In 2003, Shopping.com merged with fellow dot-com survivor Epinions.com, where surfers can read and contribute reviews about a variety of products and services, ranging from electronics to music to online brokerage services. Shopping.com's direct competitors include BizRate.com and NexTag.com, but the company is facing growing competition from similar services offered by giants Google Inc. and Yahoo Inc. Meanwhile, commercial real-estate firm NorthStar Realty sold 20 million shares at the low end of its expected $9 to $11 price range. The company offered all of the shares and raised about $180 million, which it plans to use to acquire property, pay off taxes and repay debt owned under its credit facility. The deal is being managed by Friedman Billings Ramsey, Deutsche Bank Securities, Credit Suisse First Boston and JMP Securities. The underwriters have the option to buy up to 3 million additional shares to cover over-allotments. NorthStar is trading on the New York Stock Exchange under the symbol "NRF."