Underwriter (Number Of IPOs As Lead Or Co-lead Underwriter) |
After-Market Performance (Average) |
Jefferies & Co. (1) | +130% |
Banc of America Securities (4) | +82% |
JP Morgan Securities (2) | +68% |
CIBC World Markets (3) | +67% |
UBS Investment Bank (3) | +55% |
Pacific Growth Equities (3) | +36% |
Deutsche Bank Securities (3) | +34% |
Morgan Stanley & Co. (4) | +15% |
Piper Jaffray & Co. (3) | +12% |
Merrill Lynch & Co. (3) | +7% |
Cowen & Co. (4) | -3% |
Bear, Stearns & Co. (1) | -13% |
Roth Capital Partners (1) | -16% |
Sunrise Securities (1) | -16% |
First Albany Capital (1) | -20% |
Stifel Nicolaus (1) | -20% |
# After-market performance is expressed as the percent change in stock price between the offering price and the closing price on 12/31/06. 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. |