Underwriter (Number Of Offerings As Lead Underwriter) |
After-Market Performance (Average) |
Lehman Brothers Inc. (5) |
+44% |
Wells Fargo Van Kasper (1) |
+38% |
S.G. Cowen Securities Corp. (4) |
+17% |
Deutsche Banc Alex. Brown (3) |
+7% |
Credit Suisse First Boston (5) |
+5% |
Morgan Stanley Dean Witter (1) |
-1% |
Robertson Stephens Inc. (1) |
-1% |
J.P. Morgan Securities Inc. (3) |
-2% |
UBS Warburg LLC (5) |
-2% |
C.E. Unterberg, Towbin (2) |
-6% |
CIBC World Markets Corp. (2) |
-7% |
Merrill Lynch & Co. (4) |
-7% |
Banc of America Securities (2) |
-10% |
U.S. Bancorp Piper Jaffray (2) |
-22% |
Thomas Weisel Partners (3) |
-27% |
Ladenburg Thalmann & Co. (1) |
-31% |
Legg Mason Wood Walker (1) |
-31% |
Gerard Klauer Mattison & Co. (2) |
-33% |
Salomon Smith Barney (1) |
-76% |
# After-market performance is expressed as the percent change in stock price between the offering price and the closing price on 12/31/01. 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. |