SmarTrend(R) News Watch: LogMeIn IPO Successful, Shares Rise 25%
Jul 02, 2009 (SmarTrend(R) News Watch via COMTEX) --
Companies: Cisco Systems, Inc. (CSCO), Citrix Systems, Inc. (CTXS), LogMeIn Inc (LOGM), Microsoft Corp. (MSFT)
In the first day of trading LogMeIn (NASDAQ:LOGM) shares rose to $20.02 from its initial price of $16. This IPO was the 10th IPO out of 11 that had a jump in the share price on the first day. The software company specializes in remote-access software, allowing users to remotely log in and take control of their computers. The company will compete against Citrix Systems (NASDAQ:CTXS), Microsoft (NASDAQ:MSFT), and Cisco Systems's (NASDAQ:CSCO) WebEx division.
Write to Chip Brian at cbrian@tradethetrend.com
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News Provided by COMTEX
Companies: Cisco Systems, Inc. (CSCO), Citrix Systems, Inc. (CTXS), LogMeIn Inc (LOGM), Microsoft Corp. (MSFT)
Related terms: ipo, market, nasdaq, securities, software
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