Trefis put a value estimate of $30 a share on LinkedIn as it launched its IPO Thursday. Shares actually opened at $83, raced past $100, and closed at $94.25. Wondering why the Trefis estimate is so much lower? Let's re-examine the fundamentals, and how they arrived at that number.
The U.S. biotech is holding an analyst and investor meeting focused on the commercial potential of its multiple sclerosis drug Campath. The goal: to convince Paris-based Sanofi-Aventis to raise its hostile takeover offer in a battle that has now gone on for five months.
Over the last three years, companies that either hiked dividends or initiated stock buybacks -- both meant to raise price per share -- lost an average of more than 10% in stock price. But cash-rich companies that did both lost more than 21%.
Software and computing services company Novell will sell itself to Attachmate for about $2.2 billion. The $6.10 per share price represents a premium of 28% to Novell's closing price on March 2, a day prior to the public disclosure of Elliott Associates' proposal to acquire Novell for $5.75 per share.