Word: first
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Dates: during 1980-1980
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...stock split. Applicon, a manufacturer of computers and software for industrial design, opened at $22 in July, and has risen 78% to $39.25. Genentech, the San Francisco gene-splicing company, went on sale in mid-October at $35 a share and was immediately driven up to $89 on the first day. It has since dropped back to nearly $46. Wall Street meanwhile is anxiously awaiting the public offering of Apple Computer, the go-go maker of personal computers. Later this month it is expected to hit the market somewhere between $14 and $17 a share...
...newsletter Going Public, which is published by a Philadelphia financial consultant, Howard & Co., estimates that by the end of this year some 250 companies will have raised about $1.1 billion through initial stock offerings. In the first 11 months of the year, 202 of them came to the market for $997.8 million. During all of last year 81 firms collected $506 million. In 1972, the biggest year ever for new offerings in dollar volume, 568 businesses pocketed $2.7 billion...
...general public and big Institutional Investors have been active in the market, but large pension funds, insurance companies and mutual funds have been major buyers of the bigger issues. It is harder for the small investor to get ahold of the most exciting stocks because brokers usually give the first shot to their larger clients who will buy 5,000 to 10,000 shares at a time. Federal regulations in 1979 encouraged pension funds to invest part of their huge assets in riskier ventures like new issues, antiques and diamonds; and institutions have soaked up about 70% of the larger...
...been a curious sight. Red flags fluttered in the breeze from the top of 26-ft.-high wooden arches set incongruously near downtown San Francisco, Chicago and New York. The arches have been beckoning passers-by to the first traveling trade show of the People's Republic of China in the U.S. The exhibit opened last week in Manhattan for the capstone stop of its tour. Now that dancers, diplomats and musicians have exchanged visits, China and the U.S. are getting close-up looks at each other's products at trade fairs in the two countries...
Commerce between the two nations is still relatively small. China sent the U.S. $1 billion in goods this year, while the U.S. shipped $3.5 billion to China. In contrast, American exports to Taiwan, which is about one-fiftieth the size of China, amounted to $3 billion in just the first eight months of this year. While businessmen and bureaucrats have been eying products and exchanging visiting cards at the shows, the traveling exhibit has so far resulted in disappointingly low sales...