Cloud Peak Slips Amid Mixed Bag for IPOs

Cloud Peak Energy(CLD), Archipelago Learning(ARCL) and Global Defense Technology(GTEC) are enjoying mixed fortunes during their first day of trading as public companies.

Cloud Peak's's shares were trading at $14.49 by late morning, a dip of 3.47%, after pricing its IPO at $15 a share, shy of its expected $16 to $18 range.

Cloud Peak, a Gillette, Wyo.-based subsidiary of Rio Tinto(RTP) is seen as one of the cleaner coal companies. It is hoping to earn around $459 million in its IPO.

Coal and Cloud Peak

Cloud Peak's offering rounds off a busy week for IPOs, with both Global Defense Technology and Archipelago Learning making their debuts on Friday.

Online education company Archipelago Learning, which aims its services at the K-12 market, is faring better than Cloud Peak Energy. Archipelago priced its shares at $16.50, within its anticipated range of $15 and $17, and started trading at $19, according to Reuters.

Global Defense Technology, which provides IT services to the defense and homeland security sector, priced its own offering at $13 a share Thursday, below its anticipated range of $14 to $16. Global Defense Technology hopes to raise around $60 million from its IPO, and its shares were trading flat shortly after open, according to StreetInsider.com.

Earlier this week shares of security specialist Fortinet(FTNT) surged on the company's IPO debut, but slowed down on Thursday. Fortinet shares dipped 44 cents, or 2.61%, to $16.45 on Friday, outpacing the broader decline in tech stocks that saw the Nasdaq slip 0.87%.

-- Reported by James Rogers in New York

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