www.bioworld.com/articles/461259
Underwriters' Performance On All Public Offerings, Jan. 1-Dec. 31, 2005: Full Credit To All Underwriters, Ranked By After-Market Performance*#
Feb. 6, 2006
| Underwriter (Number Of Offerings As Lead/Number Of Offerings As Lead Or Co-manager) | |
| After-Market Performance (Average) | |
| Granite Financial Group (0/1) | +137% |
| Morgan Joseph & Co. (0/1) | +137% |
| GMP Securities (0/1) | +68% |
| First Associates Investments (0/1) | +68% |
| Orion Securities (0/1) | +68% |
| William Blair & Co. (0/2) | +39% |
| Banc of America Securities (4/6) | +34% |
| Wachovia Capital Markets (1/2) | +34% |
| Merrill Lynch & Co. (7/7) | +32% |
| Goldman, Sachs & Co. (6/7) | +29% |
| Ferris, Baker Watts (1/1) | +24% |
| Maxim Group (0/1) | +24% |
| BMO Nesbitt Burns (0/2) | +18% |
| CIBC World Markets (9/18) | +17% |
| Punk Ziegel & Co. (1/2) | +16% |
| Lazard Capital Markets (2/13) | +14% |
| Deutsche Bank Securities (4/4) | +10% |
| UBS Investment Bank (15/16) | +9% |
| Piper Jaffray & Co. (4/13) | +9% |
| Delafield Hambrecht (0/1) | +9% |
| SunTrust Robinson, Humphrey (0/1) | +9% |
| Morgan Stanley & Co. (10/10) | +8% |
| Brean Murray & Co. (0/1) | +4% |
| Oppenheimer & Co. (0/1) | +4% |
| JMP Securities (0/3) | +3% |
| Robert W. Baird & Co. (1/2) | +3% |
| Lerrink Swann & Co. (0/4) | +2% |
| JP Morgan Securities (9/14) | +1% |
| First Albany Capital (0/4) | +1% |
| Pacific Growth Equities (3/8) | +0% |
| Needham & Co. (1/11) | -3% |
| Rodman & Renshaw (0/1) | -4% |
| WBB Securities (0/1) | -4% |
| SG Cowen & Co. (9/16) | -6% |
| GunnAllen Financial (0/2) | -7% |
| Desjardins Securities (0/1) | -7% |
| Fortis Securities (0/1) | -7% |
| Wells Fargo Securities (0/1) | -7% |
| WR Hambrecht + Co. (3/3) | -9% |
| Thomas Weisel Partners (2/6) | -11% |
| Harris Nesbitt (0/2) | -11% |
| A.G. Edwards (0/2) | -13% |
| Friedman, Billings, Ramsey (0/2) | -14% |
| Bear, Stearns & Co. (7/8) | -20% |
| Lehman Brothers (6/7) | -20% |
| Merriman Curhan Ford & Co. (0/1) | -22% |
| ThinkEquity Partners (1/1) | -22% |
| C.E. Unterberg, Towbin (1/2) | -25% |
| Jefferies & Co. (1/3) | -28% |
| Credit Suisse First Boston (3/3) | -36% |
| Baker Watts Stifel (0/1) | -37% |
| Nicolaus & Co. (0/1) | -37% |
| Adams Harkness (1/1) | -50% |
| Citigroup (1/1) | -50% |
| D.A. Davidson & Co. (0/1) | -50% |
| First Dunbar Securities (1/1) | -55% |
| Legg Mason Wood Walker (0/1) | -57% |
| Susquehanna Financial (0/1) | -57% |
| * The offerings in this chart include only those that were completed on U.S. stock exchanges from Jan. 1 to Dec. 31, 2005. | |
| # After-market performance is expressed as the percent change in stock price between the offering price and the closing price on 12/31/05. 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. | |