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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: George Dawson who wrote (22072)	5/25/1999 3:06:00 PM
From: Kerry Lee	Respond to of 29386

BRCD now worth $1.2 Billion market cap..LOL. May 25, 1999 13:48 Brocade soars after IPO, barnesandnoble.com up NEW YORK, May 25 (Reuters) - Brocade Communications Systems Inc. a company involved in connecting computer servers and storage devices, more than doubled in its public debut Tuesday while Internet retailer barnesandnoble.com rose 38 percent in a debut analysts described as weak. "I expected it (barnesandnoble.com) to do much better than that," said Steve Tekirian at Standard & Poor's. "The Internet IPO (initial public offering) market is losing a bit of its luster," he added. In a sign of strong demand, Brocade's IPO range was increased to $15 to $17 from $8 to $10 prior to the offering. By early afternoon it was trading at $41, up $22. Barnsandnoble.com was trading at $24.25 in the early afternoon, up $6.25. "They (Brocade) are the leader in their niche," said Paul Bard at Renaissance Capital Corp. "They help to manage data flow," he added. "As more and more information is coming in via the Internet and Intranets, the need to manage data is increasing," Bard said. Over the past decade, the volume of data that is being captured, processed and stored in business environments has exploded, creating a data transmission bottleneck between storage systems and servers, according to the company. Brocade provides its SilkWorm switches to help increase the size of a company's data storage system network, while improving tasks such as reliable backup and restore and disaster recovery. In addition to Brocade's offering, mortgage banking company Prism Financial and U.S. pipeline asset manager TC Pipelines LP also brought their shares to the public on Tuesday. Prism traded up $4.125 at $18.125 while TC Pipelines was up 50 cents at $20.50. S&P's Tekirian said, "Any time there is a broadening interest in the market, there will be a better chance for non-Internet related IPOs." ((Nadja Rogoszynski--Wall Street Desk (212) 859 1896))