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Jimmenknee- : Posted by: badknees29
In reply to: None Date:8/14/2007 4:53:27 PM
Post #of 1318

VMware surges almost 76% on its first day of trading8-14-07 4:07 PM EDT | E-mail Article | Print ArticleSAN FRANCISCO (MarketWatch) -- VMware Inc. shares climbed almost 76% Tuesday in a strong debut from EMC Corp.'s software spinoff, which raised nearly $1 billion from tech-hungry investors.


Palo Alto, Calif.-based VMware (VMW) sold 33 million shares at $29 a share as Wall Street embraced a profitable firm that specializes in technology that boosts the power of Web servers and data centers.

The IPO priced atop its boosted $27-$29 range despite volatile market conditions, with some investors viewing the tech sector as a relatively safe haven from the financial and real-estate turmoil that's rippling through stocks.

The stock ended the day up by $22 to close at $51 a share.

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