Is actually Thursday May 25, 06\, and yesterday presented the debut of Vonage (NYSE: VG) on the Fresh York Stock Exchange and a pin was put in the balloon. The stock was priced at $17, the first investment, that was done by the CEO, kicked off the debut. Shortly after that first trade the stock started out to tumble somewhat and at the end of the day it closed $14. 85 down from its debut price. Global Defense News
Some attribute this to investor fears as the IPO was marked as oversubscribed but since we mentioned yesterday the explanation for the oversubscription was that Vonage put aside a part of the IPO for some of their faithful customers. This is the first pure be in the Voip arena and investors are probably just trying to get their arms around this one. Despite the fact that Vonage has lost money since inception they have been ramping up their customer base over the past twelve months while companies like Verizon (NYSE: VZ) and Time Warner (NYSE: TWX) have dived in headfirst.
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Standard Motors (NYSE: GM) was upgraded to a Get by Merrill Lynch (NYSE: MER) analyst John Murphy and he gave GMC a price target of $37. This was but still is our turn-around situation for 2006 on Stock market to Primary Street because the $19 range. The company is clipping the fat across the board and they are generally in your survival mode which looks to be what will makes turnaround happen sooner than later. This is an American Icon that people are communicating in about, with Toyota (NYSE: TM) and Honda (NYSE: HMC) expanding globally you can gamble this is merely adding fuel to the open fire that is burning profound within the driving causes of GM, they of Rick Wagoner and Jerry York appears to be key. We all also should let you know that GM is looking to re-launch the Camaro, the muscle car that was discontinued to compete with Fords (NYSE: F) popular Mustang.
CBS TELEVISION STUDIOS (NYSE: CBS) and car radio shock jock Howard Demanding who defected to Sirius Satellite Radio (NASDAQ: SIRI) have reached a negotiation. CBS filed a legal action against Stern citing that while he was on the air that this individual misappropriated millions of us dollars of airtime promoting Sirius. The conditions of the settlement have not recently been disclosed as of yet but 2 weeks. win for CBS. Sirius stocks and shares have slide within the last several months going from the $7 range to below $4 a share. The original boost to the stock in anticipation of Howard Stern’s arrival has pale and now it’s all about the content. Though Stern met his application mark and got paid handsomely for this, he actually only brought over a portion of his ex – listener base. So where is Sirius headed? Until they develop content that is so compelling that listeners cannot do without it they are at a standstill. XM Satellite tv (NASDAQ: XMSR) even attended the point of inserting one of their programs on traditional radio to keep listeners interested and that stock in addition has dropped from grace.