RealTime IT News

Debut Day

The economy may be slowing down from its red-hot pace. Recent government figures show that the rise in consumer spending was the lowest in nearly a year. This could temper the Federal Reserve from raising interest rates too quickly. This should boost the confidence of investors in IPOs. Hopefully...

Until then, the IPO market will be skittish and picking a "debut day" is like throwing dice.

The Norristown, PA, Integrated Circuit Systems (ICST) threw craps on Tuesday. This was a bad day on the Nasdaq when it took nearly a 200 point drop. Offering an already reduced $13 for its 12.5 million shares, it slipped to 12. By the end of the week, it was still sliding and landed at 10-1/8.

Integrated Circuit Systems provides silicon timing devices that send signals to help electronic systems, such as PC and digital cameras, work in synchronization. They have manufacturing facilities here and in Asia. Intel is one of the company's shareholders.

The debut of Centillium Communications (CTLM) on Wednesday was on a day the Nasdaq ended up. Investors liked its $19 offering and the shares ended up at 22-7/8. By Friday, it was at 27-1/4.

The Fremont, CA, Centillium produces products that makes local telephone company's existing copper infrastructure able to transmit high-speed data. This digital subscriber lines (DSL) technology makes possible broadband communications for homes and businesses.

The lead underwriter was Credit Suisse First Boston.

Sonus Networks was in the money on Thursday when its $23 a share offering hit the boards. The company saw its shares more than double to close at 50-1/2. It dropped slightly to 48-1/2 on Friday.

Sonus provides service providers, such as long distance carriers, Internet service providers, and cable operators with the hardware and software so that they can deploy an integrated, packet-based network for both voice and data traffic.

Goldman, Sachs was the lead underwriter.

Stanford Microdevices (SMDI) got a 28 percent increase on their $12 a share offering by ending Thursday at 15-3/8. It rose to 16-1/2 on Friday.

Stanford Microdevices products enhance the transmission and reception of voice and data signals on wireless systems, such as cellular and mobile data networks. Made of such advanced materials as gallium arsenide and silicon germanium, their integrated circuits can be found in the equipment of Hughes Network Systems and Motorola.

Deutsche Banc Alex. Brown was the lead underwriter.