Tomorrow’s News Today

the following is satire...but this deal should give CNBC something to talk about on Friday the 13th

by Mo Mentum
NEW YORK, Oct 13 (Reuters)-Acme Packet, Inc. (APKT-Nasdaq) shares soared nearly 105% in their Nasdaq debut in what was perhaps the most eagerly anticipated IPO since Baidu came public in August of 2005.  Underwriters led by Goldman, Sachs and Co. priced 11.5 million shares at $9.50, above the anticipated $8-$9 range, which was increased from $6.50-$7.50.

Acme has staked out the early lead in the nascent market for session border controllers, or SBC’s, that allow service providers to deliver secure interactive voice, video and multimedia sessions across border points on IP networks.  The deal was originally scheduled to price in June but was tabled after the Vonage debacle and summer swoon attributed to geopolitical tensions.

Investor demand was brisk according to Jack Ast, head of Nasdaq trading at NiteCapital Group, formerly a prominent market maker on the Nasdaq exchange citing a “deluge of market orders” that reminded him of “TheGlobe.com deal that was the start of the bubble in the 90’s”.  Mr. Ast predicted “$30 or bust” but was unavailable for further comment as “we are off to Scores to celebrate our proprietary trading profits this week”.

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