| FULL CREDIT TO ALL UNDERWRITERS | ||
| RANKED BY AFTER-MARKET PERFORMANCE# | ||
| Underwriter (Number Of Offerings As Lead/Co-Manager) |
#After-Market Performace (Average) |
|
| Merriman Curhan Ford & Co. (1) | +42% |
|
| Cowen & Co. (2) | +28% |
|
| Bank of America Securities (6) | +15% |
|
| Piper Jaffray & Co. (1) | +15% |
|
| JP Morgan Securities (8) | +7% |
|
| Bear, Stearns & Co. (5) | +3% |
|
| Punk Ziegel & Co. (3) | +3% |
|
| Credit Suisse Securities (1) | +0.2% |
|
| UBS Investment Bank (9) | -1% |
|
| Mercer Capital Ltd. (1) | -3% |
|
| CIBC World Markets (6) | -8% |
|
| Deutsche Bank Securities (4) | -9% |
|
| Morgan Stanley (9) | -10% |
|
| Lehman Brothers (7) | -10% |
|
| Lazard Capital Markets LLC (1) | -12% |
|
| Jefferies & Co. (3) | -14% |
|
| C.E. Unterberg, Towbin (1) | -19% |
|
| Needham & Co. (1) | -24% |
|
| Merrill Lynch & Co. (6) | -25% |
|
| Maxim Group LLC (2) | -28% |
|
| Pacific Growth Equities (3) | -40% |
|
| MDB Capital Group LLC (1) | -43% |
|
| RBC Capital Markets (1) | -50% |
|
|
Notes | ||
| * The offerings in this chart include only those that were completed on U.S. stock exchanges (NASDAQ, NYSE or AMEX) from Jan. 1 Aug. 31, 2007. Gross proceeds include additional funding raised from the exercise of overallotment options, when disclosed. | ||
| # After-market performance is expressed as the percent change in stock price between the offering price and the closing price on 9/14/07. For underwriters with multiple offerings, the after-market performance (as a percent change) was calculated for each stock in that underwriter's "group," the percentage summed, and then averaged. | ||
