Word: hambrecht
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Dates: during 1990-1999
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...make a significant dent on the East Coast, and his harshest critics may be on Wall Street. While sales have held steady, Media Arts' stock price dropped more than 60% since the beginning of the year over concerns that interest may have peaked. Says Shawn Milne, an analyst at Hambrecht & Quist: "This thing came raging out of the gate, and they're not crushing numbers anymore, so there's always the worry that it's just Beanie Babies again...
...Morgan Stanley or Goldman Sachs to help market the stock to big investors. The banks charge a hefty sales commission -- called an underwriter's fee -- for the service, customarily around 7 percent of the total offering price. Instead Salon paid just 5 percent to San Francisco's W. R. Hambrecht. But here's the more important part. The mechanics are complicated, but common sense says that iVillage's offering price was set too cheap if it immediately quadrupled. Even though iVillage's first-day run-up was spectacular, most of that money went to the investment bank's big customers...
Discover Brokerage Wit Capital ETrade Schwab Fidelity W.R. Hambrecht...
Underwriters have started capturing more of the initial value of Internet companies. It's an indication that the pros are grudgingly conceding that Internet companies may be worth more than they first thought. Online firms like Eoffering and Hambrecht & Co., which marked up its first IPO last week, are proving it by going straight to retail and garnering higher prices for their wares. That and the fact that some Internet companies have begun to make real money have prompted firms like Morgan Stanley and Goldman Sachs to begin raising initial prices on their deals as well. In the first quarter...
...have this business to himself. The two online brokers, E*TRADE and e.Schwab, have each announced similar initiatives that are, unlike Wit, tied to specific underwriters. E*TRADE will offer IPOs managed by McCaffery's Robertson Stephens; e.Schwab will work with Hambrecht & Quist. E*TRADE's Cotsakos envisions the same tiny 100-share minimum as Wit, while e.Schwab's minimum, a snooty $100,000, writes off the Little Guys that Wit hopes to empower...