Ranked By After-Market Performance | |||
Underwriter | After-Market | ||
(Number Of IPOs As Lead/ | Performance | ||
Number Of IPOs As Lead Or | (Average)* | ||
Comanager) | |||
Wessels, Arnold & Henderson (0/1) | +86% | ||
CIBC Oppenheimer Corp. (1/1) | +75% | ||
Raymond James & Associates Inc. (0/1) | +70% | ||
Pacific Growth Equities Inc. (0/1) | +69% | ||
Hambrecht & Quist LLC (3/7) | +49% | ||
BT Alex. Brown Inc. (1/3) | +42% | ||
UBS Securities LLC (2/4) | +40% | ||
Morgan Stanley, Dean Witter Discover & Co. (2/2) | +40% | ||
BancAmerica Robertson, Stephens (1/3) | +35% | ||
NationsBanc Montgomery Securities Inc. (1/3) | +32% | ||
Vector Securities International Inc. (0/2) | +22% | ||
Merrill Lynch & Co. (1/1) | +7% | ||
Donaldson, Lufkin & Jenrette Securities Corp. (0/1) | +7% | ||
Paulson Investment Co. Inc. (1/1) | +5% | ||
First Colonial Securities Group Inc. (0/1) | +5% | ||
First Marathon Securities Ltd. (1/1) | 0% | ||
Goepel Shields & Partners Inc. (0/1) | 0% | ||
Midland Walwyn Capital Inc. (0/1) | 0% | ||
Sunrise Securities Corp. (1/1) | -8% | ||
M.H. Myerson & Co. Inc. (0/1) | -8% | ||
Millennium Financial Group Inc. (0/2) | -17% | ||
Dresdner Kleinwort Benson Ltd. (1/1) | -25% | ||
Everen Securities Inc. (1/1) | -25% | ||
Principal Financial Securities Inc. (0/1) | -25% | ||
National Securities Corp. (1/1) | -30% | ||
Fahnestock & Co. Inc. (0/1) | -31% | ||
Invemed Associates Inc. (0/1) | -31% | ||
Smith Barney Inc. (0/2) | -35% | ||
J.P. Morgan & Co. (0/1) | -38% | ||
Nutmeg Securities Ltd. (1/1) | -38% | ||
Lehman Brothers (3/3) | -39% | ||
Cowen & Co. (1/2) | -39% | ||
Salomon Brothers Inc. (1/1) | -39% | ||
Genesis Merchant Group Securities (0/1) | -56% |
* After-market performance is expressed as the percent change in stock price between the IPO price and the closing price on 12/31/97. For underwriters with multiple offerings, the after-market performance (as a percent change) was calculated for each stock in that underwriter's "group," the percentages summed, and then averaged.