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As expected, the terms for the already huge initial public offering from Palm Pilot manufacturer and 3Com subsidiary Palm, Inc. have gotten even larger. Monday, Palm set the top end of its proposed price range at $30 to $32 after targeting an original range of $14 to $16. Palm, which is expected to go public on Wednesday, will offer 23 million shares...
Musicmaker.com (Nasdaq: HITS) fell 13 percent Monday, following news that a class action lawsuit had been filed on behalf of everyone who bought Musicmaker shares between July 7 and November 15, 1999. The company, which provides custom CDs and digital downloading of licensed music from the Internet, said it had not seen the complaint and was not aware of the basis for the charges...
Shares of Web directory provider LookSmart Ltd. (Nasdaq: LOOK) gained 6 3/8 to 48 1/16 Monday after U.S. Bancorp Piper Jaffray began coverage of the stock with a "strong buy" recommendation. Analyst Safa Rashtchy set a 12-month price target for the stock at $94, based on a multiple of 48 times his calendar 2001 revenue estimate of $168 million ...
Sears, Roebuck and Co. (NYSE: S) rose 1 3/8 to 27 5/16 Monday after the venerable retailer announced a deal with French department store company Carrefour SA to form a global Internet-based venture to link retailers and suppliers. The plan, which follows a similar alliance announced Friday by the Big Three auto manufacturers, is designed to cut costs and speed up ordering. The companies plan to have the exchange operating in about a month...
The marquee initial public offering scheduled for this week is the long-awaited 3Com spinoff of Palm, Inc., which manufactures the Palm Pilot. In a whopping offering of 23 million shares, the company is expected to raise about $345 million, based on the proposed price range of $14 to $16. That range, however, has a good chance of being raised ...
DigitalThink, Inc. (Nasdaq: DTHK), which calls itself "an e-learning company," more than doubled in its first day of trading. The software company sold 4.4 million common shares at $14 each in an offering managed by Credit Suisse First Boston, Chase H&H and Robertson Stephens. The company provides training courses to such clients as Cisco Systems, Adobe Systems, KPMG and Deutsche Bank...
Internet Capital Group, Inc. (Nasdaq: ICGE) fell 10 percent Friday after Ipalco Enterprises, Inc. and its affiliate Mid-America Capital Resources, Inc. said they sold 50,000 Internet Capital shares at an average price of $113 5/8 each. Internet Capital is the holding company for a number of B2B e-commerce ventures ...
Business-to-business (B2B) e-commerce solutions provider Commerce One, Inc. (Nasdaq: CMRC) closed up 34 at 213.06 Friday after General Motors Corp., Ford Motor Co. and DaimlerChrysler AG announced a plan to create an online purchasing exchange for parts and supplies. Commerce One is GM 's technology partner in the Web venture. Oracle Corp., which has a similar agreement with Ford, closed up 8.69 at70 5/8. Ford and GM will also swap stakes in one another's technology partners, and Oracle and Commerce One will have representation on the new venture's board. The companies said Friday that other automakers may also join the alliance...
Research In Motion Ltd. (Nasdaq: RIMM) rose 24 percent to a 52-week high Thursday after the company and Nortel Networks Corp. revealed plans to offer wireless Internet services and "connected computing appliances." ...
Shares of e-commerce software company Transaction Systems (Nasdaq: TSAI) soared 43.7 percent on Thursday, thundering ahead 12-1/8 to 39-7/8 after Credit Suisse First Boston upgraded the stock to strong buy from buy. The investment firm has a $60 price target on Transaction Systems, which develops electronic payment/funds transfer solutions ...
One day after e-commerce infrastructure companies Broadvision (Nasdaq: BVSN) and Art Technology (Nasdaq: ARTG) settled a patent infringement suit, investors bid up the stocks of both companies. Shares of Broadvision, one of the top-performing stocks in the past year, soared 10.3 percent on Thursday, gaining 21-7/16 to 229-3/16. Shares of Art Technology gained more than 3.4 percent, climbing 4-13/16 to 144-13/16...
MyPoints.com, Inc. (Nasdaq: MYPT) gained 5.88 to close at 51.88 Thursday after the direct-marketing company said it sold $183.5 million worth of common shares in a secondary offering. MyPoints, which runs customer-reward programs for retailers, said the sale of four million shares at $45.875 each raised $105 million before underwriting expenses. Some of the shares were sold by stockholders...
Priceline.com (Nasdaq: PCLN) rose more than nine percent to close at 56.75 Thursday after the "name-your-own price" pioneer announced the hiring of former Citigroup chief financial officer Heidi Miller as its new CFO ...
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