FireEye was up 113% earlier in the day before settling at a no-less-heady 90.6% increase, or $38.12 a share, at 3:30 p.m. EST. The cyber-security provider offered 15.2 million shares priced at $20 a share. Credit Suisse (CS) and Citigroup (C) are acting as joint underwriters for the IPO.
Rocket Fuel, an artificial intelligence-driven advertising service, had a similarly stellar first day on the markets, up 94.52% at 3:30 p.m. EST after hovering much of the day between $55 and $57 a share. The company priced its IPO of 4 million shares at $29 a share. Morgan Stanley (MS), Goldman Sachs (GS), JP Morgan (JPM) and Barclays (BCS) are bookrunners for the offering.
Overall, both companies were leading the S&P 500 which is down 0.7%.Nine companies are slated to go public on the Nasdaq next week. Whether they can emulate today's success remains a matter of speculation. Written by Keris Alison Lahiff.