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Technology Stocks : UCOMA UnitedGlobalCom -- Ignore unavailable to you. Want to Upgrade?

To: steve host who wrote (219)	2/11/1999 7:24:00 PM
From: .com	Read Replies (1) \| Respond to of 489

Plenty of folks around Steve. Just don't want to get caught up in the jabs back and forth. Let's just stay on the UIHIA topic and not who is right today, tomorrow or next week. Now, back to UIHIA, we are up to D-Day for this puppy. Will the street realize the full UIHIA-UPCOY relationship? I think so and I think we are at a decent base to build from here. Steve, where will UPCOY start trading first? If in Europe, is there a way to track it and is there a formula for converting these EuroDollars to good ol' USA bucks? Guess the next step is the pricing. Looks like IPO's did well today, including ones which are not strong companies, such as Prodigy. Thursday February 11, 6:33 pm Eastern Time IPO ANALYSIS-Internet issuses sizzle star on busy IPO day By Reshma Kapadia NEW YORK, Feb 11 (Reuters) - The recent Internet sell-off did little Thursday to scare investors away from a fresh crop of cyber-related initial public offerings. Internet health care firm Healtheon Corp. (Nasdaq:HLTH - news) soared 292 percent to $31.375. Business-to-business Internet firm VerticalNet Inc. (Nasdaq:VERT - news) climbed 184 percent to close at $45.375 while Internet service provider Prodigy Communications Corp. (Nasdaq:PRGY - news), which had been expected to receive only a lukewarm welcome, rallied 88 percent to finish trading at $28.125. Meanwhile, the two non-Internet offerings: Gabelli Asset Management Inc. (NYSE:GBL - news) and Korn/Ferry International Inc.(NYSE:KFY - news), the nation's largest executive search firm, got a much more modest welcome despite their strong fundamentals. Gabelli, run by charismatic fund manager Mario Gabelli, closed up 31 cents at $17.19 after its $105 million offering after hitting an intraday high of $18.625. Los Angeles-based Korn/Ferry did not fare as well. It slipped $1 to $13 after its offering of 11.75 million shares at $14. Its size had also been lowered ahead of the pricing. ''It is not easy to make a blanket statement about non-Internet related offerings. Although it is clear that Internet and technology offerings are the favorites in the market,'' said Peony Kao, an analyst at Renaissance's IPO Fund (Nasdaq:IPOSX - news). She noted recent biotechnology company Albany Molecular Research Inc.(Nasdaq:AMRI - news) that performed fairly well last week. Both deals had priced in the middle of their expected range, analysts noted. ''For stocks that are not Internet-related, at this point, they need to be priced above the range. Any mid-range pricing sends a bit of a shudder through investors,'' said David Menlow, of Millburn, N.J.-based IPO Financial Network. After the initial IPO activity dies down, analysts expected Korn/Ferry and Gabelli to remain on solid ground. They were not as sure whether the Internet offerings would hold their substantial gains. Some syndicate managers said Korn/Ferry and Gabelli attracted longer-term institutional interest. This could provide solid support down the line instead of the more volatile reactions associated with retail traders who have been flocking to Internet offerings. One syndicate manager, who requested anonymity, said both Korn/Ferry and Gabelli had strong fundamentals and would likely stay on solid footing. Korn/Ferry's offering was seen as a test case for other staffing firms contemplating an initial public offering. Kao said she did not think Korn/Ferry's share performance would deter other such offerings. Similarly, Gabelli's performance had been watched to gauge the interest for financial firms in a volatile climate.