Today's Winners and Losers: Tim Hortons

Updated from 11:14 a.m.

Shares of Tim Hortons(THI Quote) were among the NYSE's winners Friday, climbing 31% on the doughnut chain's first day of trading as a public company.

The company, which was spun off by Wendy's International(WEN Quote), sold 29 million shares at $23.16 apiece, raising about $672 million. The company expected to sell shares between $22 and $24 a share, a range that was raised from $18 to $20 a share on Monday. After the spinoff, Wendy's will still own between 82% and 85% of Tim Hortons. Wendy's expects to spin off the rest of the Canadian chain by the end of the year. Tim Hortons shares recently were trading at $29.91, while Wendy's shares fell $2.03 or 3%, to $62.98.

Another IPO, Clayton Holdings (CLAY Quote), also lifted off. The company, a financial services outsourcer, sold 7.5 million shares priced at $17 apiece. The offering price came at the high end of the estimated range of $15 to $17. Clayton shares recently traded at $20.40, up 20%. ...