Underwriter |
After-Market |
WR Hambrecht + Co. (1) |
+99% |
Wachovia Capital Markets (1) |
+87% |
Merrill Lynch & Co. (2) |
+65% |
Morgan Stanley & Co. (3) |
+50% |
Citigroup Global Markets (1) |
+38% |
Deutsche Bank Securities (4) |
+17% |
Lazard Freres & Co. (1) |
+15% |
Banc of America Securities (3) |
+10% |
Needham & Co. (1) |
+7% |
Bear, Stearns & Co. (1) |
+7% |
Goldman Sachs & Co. (4) |
+4% |
SG Cowen Securities (7) |
+3% |
Piper Jaffray & Co. (6) |
+0% |
UBS Investment Bank (4) |
-6% |
Lehman Brothers Inc. (3) |
-8% |
Thomas Weisel Partners (3) |
-11% |
Credit Suisse First Boston (1) |
-48% |
RBC Capital Markets (1) |
-66% |
# After-market performance is expressed as the percent change in stock price between the offering price and the closing price on 12/31/04. 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. | |
