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Initial Public Offerings

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BUSINESS
December 22, 1998 | By Miriam Hill, INQUIRER STAFF WRITER
What's the difference between an initial public offering and a casino? With an IPO, you don't get smoke in your eyes. IPOs, which fell out of investors' favor in the fall, are back - still carrying the "Buyer, beware" label. For proof that buying IPOs can fatten or lighten a wallet as quickly as a trip to Atlantic City, look no further than the parallel tales of eBay Inc. and theglobe.com. After going public at $18 a share on Sept. 23, online auctioneer eBay rocketed as high as $54.25 in its second day of trading.
BUSINESS
September 7, 1999 | By Miriam Hill, INQUIRER STAFF WRITER
A company that makes its living off grown men cavorting in itty-bitty outfits is inviting investors to get in on the action. The World Wrestling Federation, home of such performers as Stone Cold Steve Austin, the Undertaker, and Sexual Chocolate, is going public. It's Wrestlemania meets IPO-Mania. And, in another sign of just how frenzied the market for initial public offerings has become, the WWF deal is one of the fall's hottest prospects. "I think it's one of the three top deals for 1999's closeout," said David Menlow, president of IPO Financial Network, a research firm in Millburn, N.J. "This one's in the upper echelon with Martha Stewart and UPS," which are expected to go public this fall.
BUSINESS
May 15, 2001 | By Miriam Hill INQUIRER STAFF WRITER
Initial public offerings have always worked like a giant game of "you scratch my back, I'll scratch yours. " Investors who get the limited number of shares available at the extra-low IPO price often profit handsomely. Because IPO shares promise big profits, investment bankers, who are charged with allocating the shares before they begin trading, reserve them for their best customers, the money managers who generate big profits for the investment banks by buying large blocks of shares.
BUSINESS
May 27, 2012
Facebook Inc.'s initial public offering, or IPO, started out as a cultural phenomenon and ended the week as another black eye for Wall Street. That may or may not make things hard for new IPOs.   What it is.3 Investopedia, a site rich in basic information, provides a definition of initial public offerings, and a clear warning about their pitfalls for individual investors, and goes on to deliver a list of linked articles on the site that give specifics on what "going public" means, how an IPO is valued, how to invest in IPOs through exchange-traded funds and so forth.
BUSINESS
May 24, 2001 | By Joseph N. DiStefano INQUIRER STAFF WRITER
Dispensing with the multimedia shows and stock promotions of its annual meetings during the late bull market, Safeguard Scientifics Inc. strove to reassure shareholders yesterday that it has the cash, connections and expertise to survive the downturn in small-company tech stocks. "As you all know, the tech sector has been under some pressure. Initial public offerings are down, many of Safeguard's public companies have dropped in value, and our private partner companies need our support," said Safeguard's acting chief executive officer, Vincent "Buck" Bell.
BUSINESS
September 21, 2000 | By Miriam Hill, INQUIRER STAFF WRITER
ICG Commerce, the Jenkintown electronic commerce company, has hired a chief financial officer who helped his previous employer raise $5 billion. Bruce Godfrey was chief financial officer at RCN Corp., the Princeton telecommunications company, until February. He has joined ICG Commerce to help the company raise money, acquire other firms, and oversee operations, chief executive officer Rick Berry said yesterday. Godfrey, 44, replaces Phil Bell, who left ICG Commerce earlier this year to pursue other interests.
BUSINESS
March 5, 2013 | By Mike Armstrong, Inquirer Columnist
Thanks to the exuberant start by the U.S. stock market in 2013, hopes normally would be high for a popping market for initial public offerings. But since the financial crisis, little has been normal. As for IPOs, the mere mention of Facebook and Groupon can still cause investors to wince. Facebook, which raised $16 billion in its May 2012 IPO, saw its share price crater and has yet to retrace the way back to its $38 debut. Groupon, which went public in 2011, has watched its market value slide from more than $16 billion to about $3 billion last week.
BUSINESS
December 17, 2002 | By Porus P. Cooper INQUIRER STAFF WRITER
With investors having little appetite for initial public offerings, how is the only mutual fund geared toward IPOs doing? "Most investors probably wouldn't have guessed it, but IPO Plus Aftermarket Fund is one of the mid-growth category's top performers so far in 2002," Morningstar Inc. analyst Paul Herbert wrote. So why does he also say that "the case against this fund is too compelling to ignore"? Because most IPOs involve companies with "shorter operating histories and immature business models," and are the first to be dumped by investors in troubled times - and the fund is crammed with such companies, he said.
BUSINESS
May 22, 2011 | By Reid Kanaley, Inquirer Columnist
Initial public offerings - IPOs - when companies "go public" by issuing shares of stock, are back in vogue with last week's eye-popping LinkedIn debut. But is IPO investing good for you? Take a look. IPOs 101. The Morningstar.com site for individual investors provides a do-it-yourself tutorial in the Byzantine IPO process - with helpful explanations on how they are timed by companies to game the price, how institutional investors who get the first crack at a stock stand to make the most money by "flipping" their IPO shares.
BUSINESS
May 15, 1992 | THE INQUIRER STAFF
OLYMPIA & YORK WOES Olympia & York, the world's biggest commercial landlord, directed its lawyers last night to file for bankruptcy protection in Canada and the United States, sources said.Olympia & York owns Manhattan's World Financial Center, Toronto's First Canadian Place and other skyscrapers from London to Dallas. Burdened by $12.2 billion in debt, Olympia & York could not keep up with payments on a number of loan and bond deals that soured with the worldwide property recession.
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ARTICLES BY DATE
BUSINESS
May 20, 2013
Initial public offerings may get all the attention, but when companies uncork secondary offerings, it's worth a close look at who is doing the selling. Five Below Inc., the Center City-based retailer geared toward teens and preteens, last week said it had filed a registration statement for a follow-on offering of 8.56 million shares. It's not unusual for a company to go back to the market with an offering within a year of going public. Five Below completed its initial public offering at a price of $17 per share July 24 and is currently one of The Inquirer's Philly 50 companies based on its market capitalization of more than $2 billion.
BUSINESS
March 5, 2013 | By Mike Armstrong, Inquirer Columnist
Thanks to the exuberant start by the U.S. stock market in 2013, hopes normally would be high for a popping market for initial public offerings. But since the financial crisis, little has been normal. As for IPOs, the mere mention of Facebook and Groupon can still cause investors to wince. Facebook, which raised $16 billion in its May 2012 IPO, saw its share price crater and has yet to retrace the way back to its $38 debut. Groupon, which went public in 2011, has watched its market value slide from more than $16 billion to about $3 billion last week.
BUSINESS
May 27, 2012
Facebook Inc.'s initial public offering, or IPO, started out as a cultural phenomenon and ended the week as another black eye for Wall Street. That may or may not make things hard for new IPOs.   What it is.3 Investopedia, a site rich in basic information, provides a definition of initial public offerings, and a clear warning about their pitfalls for individual investors, and goes on to deliver a list of linked articles on the site that give specifics on what "going public" means, how an IPO is valued, how to invest in IPOs through exchange-traded funds and so forth.
BUSINESS
February 6, 2012 | By Mike Armstrong, Inquirer Columnist
Initial public offerings used to be seen as a rite of passage for small businesses. Judging by last week's filing by Facebook Inc. to raise at least $5 billion, it's a big company's game now. Facebook may be just eight years old, but it's no small business. The Menlo Park, Calif., social-network operator had $3.7 billion in 2011 revenue and 3,200 employees as of the end of December. In addition, with $1.5 billion in cash already on hand, Facebook seems as though it's raising capital for a bank rather than a growing technology juggernaut.
BUSINESS
January 2, 2012 | By Mike Armstrong, Inquirer Columnist
A quick glance at the annual performance of the major stock indexes would leave the mistaken impression that very little occurred in 2011. The Dow Jones industrial average closed the year at 12,217.56, up 5.53 percent or 640.05 points. Quite disappointing after 2010, when the widely watched stock market measure rose 11 percent. A much broader gauge of U.S. stocks, the Standard & Poor's 500 index, was virtually flat at 1,257.60. Even the technology-stock-heavy Nasdaq composite index didn't benefit from the much-anticipated initial public offerings of LinkedIn Corp.
BUSINESS
May 22, 2011 | By Reid Kanaley, Inquirer Columnist
Initial public offerings - IPOs - when companies "go public" by issuing shares of stock, are back in vogue with last week's eye-popping LinkedIn debut. But is IPO investing good for you? Take a look. IPOs 101. The Morningstar.com site for individual investors provides a do-it-yourself tutorial in the Byzantine IPO process - with helpful explanations on how they are timed by companies to game the price, how institutional investors who get the first crack at a stock stand to make the most money by "flipping" their IPO shares.
NEWS
April 12, 2011 | By Christina Rexrode, ASSOCIATED PRESS
NEW YORK - Zipcar Inc., the car-sharing company that rents rides for as little as an hour, is expected to get a warm reception from Wall Street for its planned initial public offering this week. Its supporters think skyrocketing gas prices will make car sharing more popular. They praise Zipcar's technological savvy and its plans for overseas expansion. Zipcar, whose business sites include Philadelphia, is "one of the long-awaited hot tickets in the IPO valley," said John Fitzgibbon, founder of IPOscoop.com.
BUSINESS
January 26, 2006 | By Todd Mason INQUIRER STAFF WRITER
Traffic.com enjoyed open roads in its first day of trading yesterday, but that doesn't signal a new dot-com boom. The Wayne company, which sells real-time traffic information, went public at $12 a share, in the high end of its expected range of $10.50 to $12.50, and closed at $12.15 - a rare technology IPO success. "What IPO market?" lamented Michael Greeley, managing partner of IDG Ventures L.L.C., a Boston investment firm that depends on initial public offerings to close out its investments.
BUSINESS
August 20, 2004 | By Wendy Tanaka INQUIRER STAFF WRITER
Shares of online search company Google Inc. rose 18 percent to close at $100.34 yesterday, a first-day "pop" that still left questions about whether the company's initial public offering could be considered a success. The closing price was "still lower than the original IPO price" that Google had initially predicted, noted John Tinker, managing director of ThinkEquity Partners L.L.C., a research and investment-banking company in San Francisco. "If it's not a failure, it clearly didn't work the way Google's management intended it," said Barry Randall, portfolio manager for the First American Technology Fund.
BUSINESS
June 24, 2003 | By Todd Mason INQUIRER STAFF WRITER
Investors hoped to grab the next Microsoft Corp. in 1999 as they scrambled to buy initial public offerings at the height of the bull market. What they got instead was eToys and Priceline.com. EToys sought bankruptcy protection in 2001, and Priceline recently exchanged one share for every six in circulation to lift its price above $25. Thanks to government investigations, investors also got allegations of "spinning" - investment bankers handing out hot IPO shares to chief executives they wanted to land as clients - and overly cozy relationships between analysts and the companies they recommended.
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