|
|
|
|
 |
BusinessWeek: May 25, 1998 |
|
|
ONLINE FEATURES
Book Reviews
BW Video
Columnists
Interactive Gallery
Newsletters
Past Covers
Philanthropy
Podcasts
Special Reports
BLOGS
The Auto Beat
Byte of the Apple
Europe Insight
Eye on Asia
Getting In
Investing Insights
The New Entrepreneur
NEXT: Innovation Tools & Trends
On Media
Technology at Work
The Tech Beat
Traveler's Check
TECHNOLOGY
Product Reviews
Tech Stats
Hands On
AUTOS
Home Page
Auto Reviews
Car Care & Safety
INNOVATION
& DESIGN Home Page Architecture Brand Equity Auto Design Game Room SMALLBIZ Smart Answers Success Stories Today's Tip FINANCE Investing: Europe Annual Reports Bloomberg BW50 SCOREBOARDS Hot Growth Companies: 2008 Mutual Funds Info Tech 100 B-SCHOOLS Undergrad Programs Rankings & Profiles |
|
Personal Business: STOCKS
STAR SPOTTING AMONG FALLEN IPOs
Does that sound like a steal? If it does, you're not alone in thinking so. Fallen IPOs can "become very valuable investments," says Manish Shah, president of Otiva, a new-issue research boutique and sponsor of the IPO Maven Web site (www.ipomaven.com), a rich source of data. Indeed, David Solomon, a New York investor who made no profit on Box Hill despite buying in at its debut, now muses with hindsight that "picking over the IPOs that people have tossed aside might be a good strategy." Sensible as buying busted IPOs may seem, however, it's decidedly contrarian in the current hot market for new issues. In one recent week, 11 new offerings hit the Street, including business lender Heller Financial and publisher Ziff-Davis. The 11 raised $2.2 billion, nearly 25% of the $8.9 billion raised so far this year, according to Renaissance Capital, a money manager in Greenwich, Conn. That amount is still behind last year's pace, but a long list of deals--including advertising agency Young & Rubicam and oil giant Conoco--will continue to rivet investors' attention. You should be wary of purchasing IPOs because at the outset, they're usually more for traders than long-term investors. "The price of any IPO stock always comes down on the next trading day," says Calvin Lui, a West Bloomfield (Mich.) investor who bought Ziff-Davis and modem maker Broadcom, another recent issue, when they came out. He has since sold both. "The prices of IPOs are so inflated that it is not worth keeping them overnight," Lui contends. Shah's statistics on 3,100 IPOs over the past four years tend to back this up. The problem with IPOs is that the earnings of 60% of them disappoint investors by their third quarter as public companies, Shah says. When that happens, fast-money, "momentum" investors dump the stock, and analysts turn their gaze elsewhere. Absent attention from the pros and liquidity, a new issue can often sink below the value of its underlying business. Solomon learned just that lesson with EarthShell, a maker of biodegradable packaging that he purchased at the Mar. 24 offering for $21 a share. He still owns it--but it's $12 now. EarthShell declined amid disappointment over its prospects from profiting anytime soon on sandwich containers for McDonald's. Still, Solomon isn't giving up hope. He intends to sell the stock to record a loss for tax purposes, but plans to repurchase it 31 days later. STOCK-PICKER. Just because an IPO has plunged doesn't mean it's a screaming bargain. Robert Natale, co-manager of the Bear Stearns S&P Stars Fund, has studied the new-issues market carefully and found that the worst-performing new issues usually continue to underperform. "You really need to be a stock-picker to do this," he warns. "Throwing darts won't work." To see if we could zero in on some discounted IPOs with potential, we turned to Standard & Poor's (like BUSINESS WEEK, a unit of The McGraw-Hill Companies) to review last year's 374 new stock issues. From there, we winnowed out smaller stocks that went public at prices lower than $10, along with any that now trade at less than $5. We excluded cheaper IPOs because they tend to be underwritten by smaller investment banks and don't generate much of a following among investors and analysts. We also excluded stocks that weren't trading at least 10% below their initial offering prices. That left us with 51 issues. We poured those into Morningstar's StockTools software to screen for companies with market values of at least $100 million and which analysts expect to report a profit next year. Only four companies made the cut (table): Box Hill Systems, Children's Place Retail Stores, Positron Fiber Systems, and Ramco Energy. STIFF COMPETITION. Are the four worth buying now? Perhaps, but each company suffers from flaws. Box Hill, for instance, must compete against the likes of Compaq Computer, Hewlett-Packard, and Sun Microsystems. On the other hand, its earnings are growing, and it continues to have a wide following on Wall Street, with five analysts covering the stock. Children's Place, a New Jersey-based retailer of kids' clothing, saw gross margins narrow in the fiscal year ended Jan. 31 as it slashed prices to clear inventories. Reversing that practice as the chain expands will be a key to the stock's revival. In fact, the chain's same-store sales were up 7% in the latest quarter ended May 2, vs. 5% the year before, a sign that the worst may be over. The news is less encouraging for Positron, a manufacturer of telecom gear in Montreal, which has been suffering from delays in testing and launching a new product. Meanwhile, Ramco Energy, a British developer of oil and gas fields in eastern Europe and the former Soviet Union, suspended its dividend in April. Analyst Shah is also extremely picky. He has recommended just 61 of the more than 3,900 companies that have gone public since January, 1994. But his firm's recommendations, which have included Estee Lauder and Sabre Group, have racked up an annual average return of 42% through Mar. 31. Right now, Shah counsels shunning biotechnology IPOs: "Virtually every biotech company has disappointed investors." Just the same, one advantage buyers of discounted IPOs enjoy is that the companies, once they have gone public, are obliged to disclose much more information than they do in their prospectuses. For example, Children's Place must now report its financials at least every quarter, giving investors a window into signs of improvements in the chain. If digging around Wall Street's castoffs on your own isn't for you, a new mutual fund, IPO Plus Aftermarket, will do the screening for you. Sponsored by Renaissance Capital, the no-load fund (888 476-3863, $2,500 minimum) has climbed 12% since its February debut. It aims to invest in IPOs when they're offered and as values develop later on. The fund's biggest holdings include CB Commercial (the former Coldwell Banker real estate group); mutual-fund distributor Waddell & Reed Financial; multimedia-chip manufacturer NeoMagic; telecom equipment maker RELTEC; and Keebler, the cookie baker best known for its elves. Whether you go with a fund or purchase stocks directly, bear in mind that this strategy entails "looking for diamonds in the rough--and there are not a lot of them," Bear Stearns's Natale says. "For every Microsoft, there are five other stocks that disappear from the face of the earth." All the more reason to do your homework carefully before you buy what looks at first to be a bargain left behind in the IPO frenzy. Return to top | |
|
|
|
 TABLE What to Look for in Discounted Issues HIGH MARKET CAPS Highly valued companies are less likely to get lost on Wall Street. Mutual funds and other institutional investors often are barred from buying companies with less than $100 million or $200 million in value. ANALYST COVERAGE If no analysts follow a company, its stock is more likely to remain depressed even if profits and prospects improve. More coverage increases the stock's visibility and chances of strength. SPINOFFS Fast-money investors often pass up the spinoffs of established corporations' divisions. These deals, such as DuPont's sale of Conoco, tend to have less hype and can result in fewer disappointments. FINANCIAL STRENGTH Companies with strong balance sheets--relatively more equity and less debt--can endure troubles better than those that are highly leveraged. DATA: OTIVA, STANDARD & POOR'S Return to top TABLE New Stocks that Faltered in 1997--And Why They May Come Back 1998 1999
IPO RECENT EARNINGS EARNINGS
COMPANY PRICE PRICE* PER SHARE** PER SHARE**
BOX HILL SYSTEMS $15 $9.63 0.63 0.84
(BXH)
CHILDREN'S PLACE 14 10.00 0.46 0.60
RETAIL STORES (PLCE)
POSITRON FIBER 11 6.25 -0.06 0.10
SYSTEMS (PFSCF)
RAMCO ENERGY 17 11.13 0.11 0.26
(RCO)
*May 11 ** Estimated
DATA: STANDARD & POOR'S, MORNINGSTAR INC., ZACKS INVESTMENT RESEARCH, BUSINESS
WEEK
Return to top ONLINE ORIGINAL TABLE: The IPO Class of 1997
COMPANY/ IPO DATE IPO 5/11 % CHANGE
TICKER PRICE PRICE
------ -------- ----- ----- ---------
3Dfx Interactive 6/25/97 11 24.125 119.3
TDFX
800-JR Cigar 6/26/97 17 23.875 40.4
JRJR
8X8 Inc. 7/1/97 6.5 6.75 3.8
EGHT
A.C. Moore Arts 10/9/97 15 17.8125 18.8
ACMR
A.C.S. Electronics 9/24/97 5 3.875 -22.5
ACSEF
Aastrom Biosciences 2/4/97 7 4.625 -33.9
ASTM
AccelGraphics 4/11/97 9 5.40625 -39.9
ACCL
Acorn Products 6/24/97 14 9.5 -32.1
ACRN
Administaff 1/28/97 17 43 152.9
ASF
Advanced Communic. 6/27/97 7.5 13 73.3
Systems
ACSC
Advantage Learning 9/25/97 16 33.25 107.8
Systems
ALSI
AEHR Test Systems 8/15/97 12 6.1875 -48.4
AEHR
AHL Services 3/27/97 10 34.25 242.5
AHLS
Alexandria R.E. 5/28/97 20 32.0625 60.3
Equities
ARE
AllStar Systems 7/7/97 6 4.25 -29.2
ALLS
Amazon.com 5/15/97 18 86.875 382.6
AMZN
American Capital 8/29/97 15 24.625 64.2
Strategies
ACAS
American Champion 7/28/97 5 7.34375 46.9
Entertainment
ACEI
American Italian 10/8/97 18 34.25 90.3
Pasta
PLB
Ameritrade Holdings 3/4/97 15 31 106.7
AMTD
AmerUs Life Holdings 1/28/97 16.5 33.8125 104.9
amh
Amplidyne 1/22/97 5 1.125 -77.5
AMPD
Annaly Mortgage Mgmt 10/8/97 12 11 -8.3
NLY
Apex PC Solutions 2/19/97 9 30.125 234.7
APEX
Apple Orthodontix 5/23/97 7 6.5625 -6.3
AOI
Aramex International 1/13/97 7 12.9375 84.8
ARMXF
ARIS 6/18/97 15 31.125 107.5
ARSC
ARM Financial Group 6/19/97 15 21.75 45
ARM
ASD Group 5/13/97 5.75 0.65625 -88.6
ASDG
ASI Solutions 4/16/97 6 10 66.7
ASIS
Asia Electronics 9/25/97 8 7.5 -6.3
Holding
AEHCF
Asia Pacific Wire 3/26/97 12 6.4375 -46.4
& Cable
AWC
At Home 7/11/97 10.5 40.875 289.3
ATHM
ATL Products 3/7/97 11 25.25 129.5
ATLPA
Augment Systems 5/12/97 5.5 1.375 -75
AUGS
Aurora Biosciences 6/19/97 10 8.75 -12.5
ABSC
Authentic Specialty 8/27/97 8 16.75 109.4
Foods
ASFD
Autocyte 9/4/97 10 7.25 -27.5
ACYT
Aviation Distributors 3/4/97 5 5.0625 1.3
ADIN
Avis Rent A Car 9/24/97 17 24.25 42.6
AVI
Axiom 7/7/97 12 3.375 -71.9
AXIM
Banco Rio de la 10/10/97 15 13.625 -9.2
Plata
BRS
BEA Systems 4/10/97 6 23.6875 294.8
BEAS
Beijing Yanhua 6/24/97 11.5 7.125 -38
Petrochemical
BYH
Best Software 9/30/97 13 18.1875 39.9
BEST
Big Dog Holdings 9/26/97 14 6.4375 -54
BDOG
Bionx Implants 4/25/97 10.5 19.6875 87.5
BINX
Biora AB 2/4/97 16.5 29 75.8
BIORY
Bioreliance 7/29/97 15 15 0
BREL
Biosite Diagnostics 2/11/97 12 15.125 26
BSTE
Birman Managed Care 2/12/97 5 4.75 -5
BMAN
Boron Lepore 9/24/97 17.5 32 82.9
& Assocs.
BLPG
Boston Properties 6/18/97 25 33.4375 33.8
BXP
Box Hill Systems 9/17/97 15 9.625 -35.8
BXH
Bridgestreet 9/25/97 9 10.625 18.1
Accommodation
BEDS
Brigham Exploration 5/8/97 8 12.75 59.4
BEXP
Brookdale Living 5/1/97 11.5 24.125 109.8
Commun.
BLCI
Brunswick Tech. 2/5/97 9.5 12.625 32.9
BTIC
Brylane 2/20/97 24 56.9375 137.2
BYL
CalDive Int'l 7/1/97 15 37.125 147.5
CDIS
Cardima 6/6/97 7 4.25 -39.3
CRDM
Carey Int'l 5/28/97 10.5 23.125 120.2
CARY
Carrizo Oil & Gas 8/6/97 11 6.875 -37.5
CRZO
Castle Dental 9/12/97 13 11 -15.4
Centers
CASL
CCA Prison Realty 7/15/97 21 34.375 63.7
Trust
PZN
CD Warehouse 1/22/97 5 12.5 150
CDWI
Cell Therapeutics 3/21/97 10 3.65625 -63.4
CTIC
Centennial Health- 7/2/97 16 23.5 46.9
care
CTEN
Cerus Corp. 1/31/97 12 13.625 13.5
CERS
CFI Mortgage 5/27/97 5 13.625 172.5
CFIM
Chicago Bridge 3/27/97 18 16.625 -7.6
& Iron
CBI
Children's Place 9/19/97 14 10 -28.6
Retail
PLCe
China Eastern 2/2/97 18 11 -38.9
Airlines
CEA
China Southern 8/1/97 30.66 10 -67.4
Airlines
ZNH
Ciena Corp. 2/7/97 23 54 134.8
CIEN
Circuit City- 2/3/97 20 11 -45
CarMax Group
KMX
Clearview Cinema 8/19/97 8 20.5 156.3
Group
CLV
CMP Media 7/25/97 22 25.875 17.6
CMPX
Coast Dental 2/10/97 8 23.25 190.6
Services
CDEN
Cognicase 10/3/97 12.5 18 44
COGIF
Coinstar 7/2/97 10.5 8.625 -17.9
CSTR
Coldwater Creek 1/28/97 15 23.5 56.7
CWTR
Colonial Downs 3/18/97 9 3.8125 -57.6
Holdings
CDWN
Comfort Systems 6/27/97 13 23.5625 81.3
FIX
Commodore 4/3/97 5 2 -60
Separation Tech.
CXOT
Compagnie Generale 5/7/97 17 34.1875 101.1
de Geop
GGY
Companhia 5/29/97 20 23 15
Brasiliera de Di
CBD
Compania 7/29/97 18 12.5 -30.6
Paranaense
ELP
Compass Plastics 9/4/97 8 4.125 -48.4
& Technol
CPTI
Complete 3/5/97 6 29.25 387.5
Business Solution
CBSL
Computer Motion 8/2/97 14 15.5625 11.2
RBOT
Concentric 8/1/97 12 22.625 88.5
Network
cncx
Continental 8/1/97 11.25 9.5 -15.6
Natural Gas
CNGL
Corixa 10/1/97 13 6.875 -47.1
CRXA
Cornerstone 4/15/97 14 17.875 27.7
Properties
CPP
Cornerstone 4/18/97 10.5 12.0625 14.9
Realty Inc.
TCR
CorporateFamily 8/13/97 10 27.25 172.5
Solutions
CFAM
Corsair 8/1/97 15 16.125 7.5
Communications
CAIR
Coulter 1/28/97 12 31.375 161.5
Pharmaceutical
CLTR
Coyote Sports 9/18/97 5 5.03125 0.6
COYT
Cresud SACIF 3/19/97 18.5 19.75 6.8
CRESY
Crystal Systems 1/31/97 7.5 16.5 120
Solutions
CRYSF
CTB Int'l 8/21/97 14 15.25 8.9
CTBC
D.G. Jewelry 4/17/97 6 5 -16.7
of Canada
DGJLF
Daou Systems 2/12/97 9 19.3125 114.6
DAOU
Debt Strategies 5/27/97 10 10.5 5
Fund
DBS
DeCrane Aircraft 4/16/97 12 17.375 44.8
Holdings
DAHX
Deltek Systems 2/25/97 11 24.125 119.3
DLTK
Denison Int'l 8/8/97 16 17.625 10.2
DENHY
Didax 9/24/97 5 4.4375 -11.3
AMEN
Digital Lightwave 2/5/97 12 5.125 -57.3
DIGL
Distribucion 10/7/97 17 17.4375 2.6
Y Servico
DYS
DOCData 4/30/97 13 30.5 134.6
DOCDF
Domain Energy 6/24/97 13.5 12.5 -7.4
DXD
Doncasters PLC 1/29/97 16.5 30.5 84.8
DCS
DSI Toys 5/29/97 8 2 -75
DSIT
DTM 5/1/97 8 2.375 -70.3
DTMC
Dunn Computer 4/22/97 5 9.375 87.5
DNCC
Eagle Geophysical 8/6/97 17 18.75 10.3
EGEO
Earthlink 1/22/97 13 62.375 379.8
Network
ELNK
EDAP TMS 8/1/97 9 5.75 -36.1
EDAPY
Edge Petroleum 2/25/97 16.5 13.125 -20.5
EPEX
EDP-Electr. de 6/17/97 25.75 50.625 96.6
Portugal
EDP
Edutrek Int'l 9/23/97 14 27.75 98.2
EDUT
Eltek Ltd. 1/22/97 5 2.0625 -58.8
ELTKF
Emcore 3/6/97 9 15.875 76.4
EMKR
Endocardial 3/19/97 9 11.25 25
Solutions
ECSI
Engel General 10/1/97 9 5.75 -36.1
Developers
ENGEF
Equity Office 7/7/97 21 27.6875 31.8
Properties
EOP
Essex Int'l 4/16/97 17 33.875 99.3
SXC
Euronet 3/7/97 13.5 6 -55.6
Services
EEFT
Excelsior- 7/25/97 7.5 6.0625 -19.2
Henderson Motor
BGIX
Execustay 8/27/97 10 14.25 42.5
EXEC
Faro Tech. 9/18/97 12 12 0
FARO
Fieldworks 3/20/97 6.5 3.5625 -45.2
FWRX
Fine Air 8/6/97 14.5 14.625 0.9
Services
BIGF
Fine.com 8/12/97 6.5 5.25 -19.2
FDOT
First Sierra 5/15/97 8 24.75 209.4
Financial
FSFH
Four Media Co. 2/7/97 10 9.875 -1.3
FOUR
Freepages Group 3/4/97 15.39 11.75 -23.7
FREEY
Friede Goldman 7/22/97 8.5 41.59375 389.3
Int'l
FGII
Galileo Int'l 7/25/97 24.5 42.5 73.5
GLC
Galileo Tech. 7/29/97 17 31.5 85.3
GALTF
General Bearing 2/10/97 7 10.25 46.4
GNRL
General Cable 5/16/97 21 46 119
GCN
Genesys Telcom. 6/17/97 18 29.96875 66.5
GCTI
Gentle Dental 2/13/97 5 10.5 110
GNTL
Globecomm 8/8/97 10 11 10
Systems
GCOM
Go2Net 4/23/97 8 33 312.5
GNET
Golf Trust 2/6/97 21 33.125 57.7
America
GTA
Great Lakes 5/7/97 15.5 18.1875 17.3
REIT
GL
Great Plains 6/20/97 16 35.4375 121.5
Software
GPSI
Guitar Center 3/14/97 15 28.625 90.8
GTRC
Gulf Indonesia 9/30/97 19.5 13.9375 -28.5
Resources
GRL
Gulf Island 4/4/97 7.5 26 246.7
Fabrication
GIFI
H.T.E. 6/11/97 11 30.125 173.9
HTEI
Haglar Bailly 7/3/97 14 29 107.1
HBIX
Hall Kinion 8/5/97 15 16 6.7
Associates
HAKI
Hamilton Bancorp 3/26/97 15.5 32.625 110.5
HABK
Hanover 7/1/97 19.5 27.4375 40.7
Compressor
HC
Hartford Life 5/22/97 28.25 48.75 72.6
HLI
Healthcare 5/21/97 14 17 21.4
Recoveries
HCRI
Hertz 4/25/97 24 44.25 84.4
HRZ
Heska 7/1/97 8.5 13.3125 56.6
HSKA
Home Security 7/15/97 10 13.25 32.5
Int'l
HSI
Homecom 5/6/97 6 5 -16.7
Communications
HCOM
Horizon 7/8/97 3.33 13.5625 307.3
Pharmacies
HZP
Hyseq 8/8/97 14 14.625 4.5
HYSQ
IAT Multimedia 3/26/97 6 8.6875 44.8
IATA
Il Fornaio 9/19/97 11 12.875 17
America
ILFO
Ilex Oncology 2/20/97 12 12.75 6.3
ILXO
Ilog S.A. 2/14/97 11 15.375 39.8
ILOGY
IMH Commercial 8/5/97 15 15.75 5
Holdings
ICH
Industrial 9/24/97 17 18.9375 11.4
Distribution Gr
IDG
Industrias 9/18/97 17 13.4375 -21
Bachoco
IBa
Infocure 7/10/97 5.5 10.9375 98.9
INC
Information 8/1/97 13 10.375 -20.2
Management Ass
IMMA
ING Group 6/13/97 46.48 67.625 45.5
ING
Innova 8/8/97 13 15.625 20.2
INVA
Inspire 8/22/97 12 34.125 184.4
Insurance Solution
NSPR
International 4/30/97 9.5 7.8125 -17.8
Computex
ICIQ
International 8/14/97 9 24 166.7
Isotopes
INIS
International 9/19/97 11.25 21 86.7
Total Service
ITSW
inTEST Group 6/17/97 7.5 8.75 16.7
INTT
IntraWest 3/25/97 16.88 20.125 19.2
IDR
IONA Tech. 2/26/97 18 30.75 70.8
IONAY
Ionica Group 7/18/97 19.57 4.125 -78.9
IONCY
Iridium World 6/10/97 20 60.0625 200.3
Communic.
IRIDF
ISPAT Int'l 8/4/97 27 28.75 6.5
IST
Ivex Packaging 9/30/97 16 24.75 54.7
IXX
IWL Communic. 6/13/97 6 17.5 191.7
IWLC
J.D. Edwards 9/24/97 23 35 52.2
JDEC
JetFax 6/11/97 8 6.1875 -22.7
JTFX
Jevic 10/7/97 15 14 -6.7
Transportation
JEVC
JLK Direct 6/26/97 20 31.375 56.9
Distribution
JLK
JLM Industries 7/25/97 10 11.25 12.5
JLMI
Journal Register 5/7/97 14 20.125 43.8
JRC
Judge Group 2/14/97 7.5 5.5 -26.7
JUDG
Kaynar Tech. 5/6/97 14.5 28.125 94
KTIC
Kendle Int'l 8/22/97 14 24.6875 76.3
KNDL
Kilroy Realty 1/28/97 23 26.0625 13.3
KRC
Knightsbridge 2/7/97 20 28.875 44.4
Tankers Ltd.
VLCCF
Knoll 5/9/97 17 33.375 96.3
KNL
Kofax Image 10/19/97 11 6.875 -37.5
Products
KOFX
Kos Pharmaceut. 3/7/97 15 12.875 -14.2
KOSP
La Salle Partners 7/17/97 23 34.9375 51.9
LAP
LaMalie Assocs. 7/2/97 12 20 66.7
LAIX
Laser Power 6/19/97 5.5 4.4375 -19.3
LPWR
Leukosite 8/15/97 6 8.25 37.5
LKST
Lexington 5/19/97 5 3 -40
Healthcare Grp
LEXI
LHS Group 5/16/97 16 122.1875 663.7
LHSG
Life Financial 6/25/97 11 21.75 97.7
LFCO
Logility 10/6/97 14.5 10.4375 -28
LGTY
Logitech Int'l 3/27/97 16 14.875 -7
LOGIY
Macrovision 3/12/97 9 21.375 137.5
MVSN
Marine Mgmt. 5/2/97 5 1 -80
Systems
MMSY
Maximus 6/13/97 16 28.375 77.3
MMS
Meade 4/9/97 7 10.6875 52.7
Instruments
MEAD
Mecury Waste 2/28/97 5 4.25 -15
Solutions
MWSI
Medirisk 1/29/97 11 22.75 106.8
MDMD
Megabios 9/16/97 12 8.375 -30.2
MBIO
Melita Int'l 6/4/97 10 13.5 35
MELI
MER 5/21/97 6 2.4375 -59.4
Telemanagement Solution
MTSLF
Metals USA 7/11/97 10 19.8125 98.1
MUI
Metrika Systems 6/20/97 15.5 17.75 14.5
MKA
Metro Info. Svcs. 1/29/97 16 33.125 107
MISI
Micro 2/18/97 6 10.75 79.2
Therapeutics
MTIX
Microcell 10/7/97 10.88 8.125 -25.3
Telecomm
MICTF
Monarch Dental 7/18/97 13 16.5 26.9
MDDS
Muniholdings 9/23/97 15 14.6875 -2.1
Florida Insur
MFL
MuniHoldings Fund 5/6/97 15 14.625 -2.5
MHD
NACT Telecom. 2/26/97 10 26.375 163.8
NACT
National Research 10/10/97 15 10.125 -32.5
NRCI
Nationwide 3/5/97 23.5 42.8125 82.2
Financial Servi
NFS
Navidec 2/11/97 6 6.5 8.3
NVDC
NEI Web World 5/21/97 5.5 2.6875 -51.1
NEIP
NeoMagic 3/13/97 12 19.90625 65.9
NMGC
Net.Bank 7/29/97 12 25.125 109.4
NTBK
NetSpeak 5/29/97 8.75 23 162.9
NSPK
Network 9/26/97 18 40.875 127.1
Solutions
NSOL
New Century 6/26/97 11 11 0
Financial
NCEN
New Era Of 6/18/97 12 25.125 109.4
Networks
NEON
Nexar Tech. 4/9/97 9 2.5625 -71.5
NEXR
Nextlink Commun. 9/26/97 17 30.75 80.9
NXLK
NovAtel 2/3/97 7.5 5.75 -23.3
NGPSF
Novel Denim 7/24/97 18 25.125 39.6
Holdings
NVLDF
Objective 4/4/97 5.5 11.75 113.6
Communications
OCOM
Ocular Sciences 8/5/97 16.5 27.5 66.7
OCLR
Ocwen Asset 5/14/97 16 18.75 17.2
Investment
oac
Omega 10/1/97 6 2.5 -58.3
Orthodontics
ORTH
Omega Research 10/1/97 11 6 -45.5
OMGA
Omniquip Int'l 3/20/97 14 24.5 75
OMQP
Omtool 8/8/97 9 9.75 8.3
OMTL
OnSale 4/17/97 6 25.125 318.8
ONSL
Optisystems 6/12/97 7.5 8.25 10
Solutions
OPTLF
Orbit/FR 6/17/97 8.25 10.75 30.3
ORFR
Orthalliance 8/21/97 12 16.25 35.4
ORAL
OSI Systems 10/2/97 13.5 11.375 -15.7
OSIS
Overland Data 2/21/97 10 5.25 -47.5
OVRL
PalEx 3/19/97 7.5 10.5 40
PALX
Pameco 6/4/97 14 18.75 33.9
PCN
Pan Pacific 8/8/97 19.5 21.1875 8.7
Retail Propert
PNP
Peak Int'l 6/20/97 12 23.375 94.8
peakf
PeaPod 6/11/97 16 7.4375 -53.5
PPOD
Pegasus Systems 8/7/97 13 27.125 108.7
PEGS
Peregrine 4/9/97 9 21.8125 142.4
Systems
PRGN
Peritus 7/2/97 16 5.3125 -66.8
Software Services
PTUS
Pervasive 9/26/97 10 13.5 35
Software
PVSW
Petersen Cos. 10/1/97 17.5 25.75 47.1
PTN
Photoelectron 1/29/97 8.5 6.625 -22.1
PECX
Physicians 3/21/97 8 9 12.5
Specialty Corp.
ENTS
Pierce Leahy 7/1/97 18 28.5 58.3
PLH
Pluma 3/10/97 12 6.9375 -42.2
PLU
Polo Ralph 6/12/97 26 29.875 14.9
Lauren
RL
Positron 8/18/97 11 6.25 -43.2
Fiber Systems
PFSCF
Power-One 9/30/97 14 12.0625 -13.8
PWER
Premier 2/3/97 17 6.0625 -64.3
Research Worldwide
PRWW
ProBusiness 9/19/97 11 30 172.7
Services
PRBZ
ProMedco Mgmt. 3/12/97 9 11.125 23.6
PMCO
PSW Tech. 6/5/97 9 7.25 -19.4
PSWT
Puro Water 2/7/97 6 0.725 -87.9
puro
QAD Inc. 8/6/97 15 14.25 -5
QADI
Qualix Group 2/12/97 8 3.0625 -61.7
QLIX
Quinenco 6/25/97 18 9.875 -45.1
LQ
Qwest 6/24/97 11 39.03125 254.8
Communic. Int'l
QWST
Racing Champions 6/12/97 14 11.1875 -20.1
RACN
Radcom 9/24/97 9.5 5.625 -40.8
RDCMF
Radiant Systems 2/13/97 9.5 19.6875 107.2
RADS
Rambus 5/14/97 12 43.65625 263.8
RMBS
Ramco Energy 3/10/97 17.6 11.125 -36.8
RCO
RDO Equipment Co. 1/23/97 15.5 17 9.7
RDO
Renex 10/8/97 8 6.125 -23.4
RENX
RF Micro Devices 6/3/97 12 13.5 12.5
RFMD
RIT Technologies 7/22/97 8 13 62.5
RITTF
Riviera Tool Co. 3/4/97 7 9.375 33.9
RTC
Robocom Systems 6/26/97 6.5 5.5 -15.4
RIMS
RSL Communications 9/30/97 22 29 31.8
RSLCF
RWD Technologies 6/19/97 13 23 76.9
RWDT
Ryanair Holdings 5/29/97 14.73 35.875 143.6
RYAAY
SAC Tech. 2/26/97 6 9 50
SACM
Santa Fe Int'l 6/10/97 28.5 37.5 31.6
SDC
Saxton 6/25/97 8.25 7 -15.2
SXTN
Schick Tech. 7/1/97 18.5 18.75 1.4
SCHK
Schied Vineyards 7/25/97 10 9 -10
SVIN
Schuff Steel 7/1/97 8 15 87.5
SHUF
SCM Microsystems 10/7/97 13 64.25 394.2
SCMM
Securacom 10/2/97 8.5 2.0625 -75.7
SFT
Security Capital 9/18/97 28 30 7.1
Group
SCZB
SEEC 1/22/97 7.25 13 79.3
SEEC
Siga Pharmac. 9/9/97 5 4.25 -15
SGPH
Signature Eyewear 9/11/97 10 8.625 -13.8
SEYE
Silgan Holdings 2/14/97 20 35 75
SLGN
SilverLeaf Resorts 6/6/97 16 21 31.3
SVR
Simulations Plus 6/19/97 5 5 0
SIMU
SL Green Realty 8/15/97 21 22.25 6
SLG
Special Metals 2/25/97 16.5 16 -3
SMCX
Specialty Care 2/6/97 8 11.8125 47.7
Network
SCNI
SpectRx 7/1/97 7 8.25 17.9
SPRX
SPR 10/1/97 16 27.75 73.4
SPRI
Staff Leasing 6/26/97 17 28.9375 70.2
STFF
Star Buffet 9/25/97 12 15.75 31.3
STRZ
STAR Telecom. 6/12/97 4.39 26.5625 505.1
STRX
Startec Global 10/9/97 12 21 75
Communic.
STGC
StarTek 6/19/97 15 12.6875 -15.4
SRT
Sterigenics 8/14/97 12 23.875 99
STER
Stoneridge 10/10/97 17.5 22.3125 27.5
SRI
Storage Dimensions 3/11/97 7 3.8125 -45.5
arte
Sulzer Medica 7/14/97 23.85 24.9375 4.6
SM
Summit Holding 5/22/97 11 24.75 125
Southeast
SHSE
Sun Hydraulics 1/9/97 9.5 15.5 63.2
SNHY
Super-Sol 9/30/97 14.75 16 8.5
SAE
Supermercados 5/8/97 16.75 9.75 -41.8
Unimarc S.A.
UNR
Syntel 8/12/97 7.33 28.75 292.2
SYNT
Syscomm Int'l 6/17/97 5 3 -40
SYCM
Taiwan 10/18/97 24.78 24.3125 -1.9
Semiconductor Mfg.
TSM
Tefron 9/25/97 17 26.5 55.9
TFR
Telegroup 7/9/97 10 14.0625 40.6
TGRP
Template Software 1/29/97 16 11.5 -28.1
TMPL
The A Consulting 8/8/97 12 12.125 1
Team
TACX
Total Control 3/11/97 8 11 37.5
Products
TCPS
Total Entertain. 7/18/97 9 7.5 -16.7
Restaurant
TENT
Tower Realty Trust 10/10/97 26 23.875 -8.2
TOW
Track'n Trail 10/10/97 10.5 8.25 -21.4
TKTL
Trailer Bridge 7/24/97 10 6.625 -33.8
TRBR
Transcend 7/2/97 10 3.25 -67.5
Therapeutics
TSND
Transcrypt Int'l 1/22/97 8 7.0625 -11.7
TRIIE
Travel Services 7/23/97 14 34.5 146.4
Int'l
TRVL
Trendwest Resorts 8/15/97 18 19 5.6
TWRI
Trimeris 10/7/97 12 8.59375 -28.4
TRMS
TSI Int'l 7/2/97 9 20.25 125
Software
TSFW
TTR Inc. 2/14/97 7 4.78 -31.7
TTRE
TV Azteca 8/15/97 18.25 17.375 -4.8
TZA
U.S. Liquids 8/20/97 9.5 24.875 161.8
USL
U.S. Rentals 2/21/97 20 31.375 56.9
USR
U.S.A. Floral 10/10/97 13 19.375 49
Products
ROSI
Unibanco Holding 5/22/97 33.75 35.6875 5.7
UBB
Unifab Int'l 9/19/97 18 19.625 9
UFAB
Vail Resorts 2/3/97 22 27.5 25
MTN
Valley Nat'l 4/9/97 8 11.375 42.2
Gases
VNGI
VDI Media 2/18/97 7 17.375 148.2
Vdim
Vestcom 8/1/97 13 11.0625 -14.9
VESC
Vision Twenty-One 8/19/97 10 8.3125 -16.9
EYES
Vista Medical 7/3/97 9 9.125 1.4
Technologies
VMTI
Warner Chilcott 8/8/97 17.5 9.875 -43.6
WCRXY
Waste Industries 6/13/97 13.5 20.125 49.1
WWIN
WaterLink 6/25/97 11 13.75 25
WLK
Weider Nutrition 4/30/97 11 14.5 31.8
Int'l
WNI
Wesley-Jessen 2/12/97 15 31.5 110
Visioncare
WJCO
Westfield America 5/16/97 15 17.5625 17.1
WEA
Wheels Sports 4/16/97 6 5.0625 -15.6
Group
WHELE
World of Science 7/8/97 6 3.25 -45.8
WOSI
Yurie Systems 2/5/97 12 34.75 189.6
YURI
Zindart Ltd. 3/4/97 10 14 40
ZNDTY
DATA: STANDARD & POOR'S, BUSINESS WEEK
Return to top |
|
Copyright 2000-2012 Bloomberg L.P.Terms of Use | Privacy Notice |
