Underwriter (Number of Offerings As Lead Underwriter) | After-Market Performance |
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Lehman Brothers Inc. (4) | +26% |
Credit Suisse First Boston (3) | +13% |
Banc of America Securities (1) | +4% |
S.G. Cowen Securities Corp. (2) | -2% |
Ladenburg Thalmann & Co. (1) | -3% |
Legg Mason Wood Walker (1) | -3% |
U.S. Bancorp Piper Jaffray (3) | -5% |
Merrill Lynch & Co. (2) | -9% |
J.P. Morgan Securities Inc. (2) | -15% |
Gerard Klauer Mattison & Co. (2) | -17% |
CIBC World Markets Corp. (1) | -30% |
Thomas Weisel Partners (2) | -32% |
Morgan Stanley Dean Witter (1) | -44% |
UBS Warburg LLC (1) | -48% |
Salomon Smith Barney (1) | -63% |
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* The offerings in this chart include only those that were completed on U.S. stock exchanges (NASDAQ, NYSE or AMEX) from January Aug. 17, 2001. Gross proceeds include additional funding raised from the exercise of overallotment options, when disclosed. |
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# After-market performance is expressed as the percent change in stock price between the offering price and the closing price on 8/17/01. 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. |