News Summary: IPO market heats up after freeze
(AP) - MIXED FRIDAY: Investors showed their appetite for freshly public technology stocks on Friday, but a decidedly old-school company- Fender Instruments- bowed out of its planned initial public offering citing market conditions.
ANALYSTS UPBEAT: Isolating the guitar maker as a solo act out of tune with the broader IPO market, analysts were positive. The IPO market is "back, for the time being," says Francis Gaskins, president of researcher IPOdesktop.
TWO DID WELL: The stock of security software company Palo Alto Networks Inc. popped 27 percent in its market debut. The stock of Kayak Software Corp., the travel-booking website, jumped 28 percent Friday.
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