(GS:NYSE) long-awaited IPO priced near the top of its range at $53 a share, valuing the 130-year-old investment bank at $29 billion. The offering is the second-largest domestic IPO ever in terms of proceeds, after
. An additional 9 million shares were added to the 60 million-share IPO when Goldman exercised its option to buy shares via an overallotment option, bringing the total amount of proceeds to $3.7 billion.
The offering was scheduled for last September but was canceled amid the global market turmoil that followed the devaluation of the Russian ruble. The pricing range for Goldman's IPO, which represents a 14% stake in the bank, was raised to $45 to $55 from $40 to $50 last month.
In other postclose news (earnings estimates from
; earnings reported on a diluted basis unless otherwise specified):
Earnings/revenue reports and previews
likely will issue a first-quarter earnings warning, a person with knowledge of the situation said.
The source, who spoke with a high-level executive at the company, said an announcement of the miss could come as soon as tomorrow morning. First Call's seven-analyst consensus estimate calls for earnings of 4 cents a share.
Shares of the company, which makes software that helps businesses analyze data, fell 15.8% today on speculation that the company would miss first-quarter estimates.
U.S. Bancorp Piper Jaffray
analyst Tom Berquist downgraded the stock today to buy from strong buy, writing in a note to investors that "we believe that there is a more than 50% probability that Information Advantage will miss Q1 estimates. Given the large number of first-quarter misses in the enterprise software space largely blamed on Y2K, and the slight shortfall in revenues the company experienced in Q4, we believe there is high risk in the quarter." U.S. Bancorp Piper Jaffray has underwritten for Information Advantage.
A spokesman for Information Advantage, which is in its quiet period, said the company expects to report earnings May 27. He said if there is a significant shortfall, the company would have to preannounce within the next five to seven business days.
warned that delayed or postponed sales will result in a larger net loss than expected for the second quarter. The two-analyst forecast called for operating earnings of 3 cents a share vs. the year-ago profit of 1 cent.
said it sold 141,311 cars in April, up 4.9% from a year ago. Total truck sales rose 7.8% in April to 204,361, and total vehicle sales rose 6.6% to 345,672.
reported its April same-store sales surged 7%.
said it sees a second-quarter operating loss of more than $25 million due to lower-than-anticipated license fee revenue and a slowdown in demand for software as companies prepare for Y2K. The company did not provide per-share predictions for the second quarter.
reported first-quarter earnings of $1.43 a share, 2 cents ahead of the five-analyst view but behind the year-ago $1.52. The company also announced plans to buyback up to $25 million worth of stock.
posted a second-quarter loss of 13 cents a share, missing the three-analyst outlook for a profit of 4 cents and falling below the year-ago profit of 16 cents. The company also said it will record a third-quarter restructuring charge of $11 million and that it will cut its staff by 15%.
warned it will report a fourth-quarter net loss due to its restructuring into two separate companies. The single-analyst estimate called for operating earnings of 25 cents a share vs. the year-ago profit of 7 cents. The company also said it hired an investment bank to explore the possibility of selling its
Internet-hosting business or spinning-off its
enterprise information business.
In other earnings news:
Mergers, acquisitions and joint ventures
announced plans to sell its mainframe computer leasing portfolio to
IBM Credit unit. Financial terms weren't disclosed.
said it sold two TV stations serving the Houston market for a total of $28 million to
Offerings and stock actions
Affiliated Computer Services
withdrew its planned 3.5 million-share secondary offering, saying "other financing alternatives appear more attractive at this time."
BancBoston Robertson Stephens
(MQST:Nasdaq) 4.6 million-share IPO above-range at $15 a share.
approved the repurchase of up to $5 million worth of its outstanding stock.
said its founder, CEO and president, Darryl Peck, will step down as soon as a replacement is found.
said it plans to call David Colburn, senior vice president for business affairs of
, as a witness in the rebuttal phase of the government's antitrust trial against Microsoft.
announced plans to launch its own line of PCs called Epiq PC Systems.
Sodexho Marriott Services
named Michel Landel president, chief executive and director. He replaces Charles D. O'Dell, who resigned.