Fusion-io shares jump in market debut

June 9, 2011

(AP) -- Shares of Fusion-io, a maker of fast, chip-based "hard drives" for servers, are climbing in their market debut after the initial public offering priced above expectations.

Shares priced at $19 each, above early expectations of $13 to $15. That price valued the company at $1.48 billion. The company and its shareholders sold $234 million in stock.

Fusion-io Inc.'s flash memory products allow companies to store lots of data and access it quickly. Resellers include Dell Inc., Hewlett-Packard Co. and IBM Corp. is its biggest customer. Stephen Wozniak, one of the founders of Apple Inc., is Fusion-io's "chief scientist."

It's the latest U.S. to trigger strong demand from IPO investors.

Shares are up nearly 29 percent at $24.47 in midday trading.

Explore further: SolarWinds shares climb during first trading day

0 shares

Related Stories

SolarWinds shares climb during first trading day

May 20, 2009

(AP) -- Shares of SolarWinds Inc. climbed Wednesday during the network management software maker's first day of trading, marking the latest flicker of life in an IPO market that has barely registered a pulse this year.

Microsoft prices $1.15B convertible debt sale

June 9, 2010

(AP) -- Microsoft Corp. has priced its $1.15 billion convertible debt offering to institutional investors, and said it will use the proceeds to pay down short-term debt.

LinkedIn looking for $32 to $35 per share in IPO

May 9, 2011

(AP) -- Professional networking website LinkedIn Corp. hopes to sell its stock for $32 to $35 per share in an upcoming initial public offering. Its IPO may encourage other growing Internet services to make their stock market ...

LinkedIn's IPO priced at $45 a share

May 18, 2011

(AP) -- LinkedIn priced its IPO at $45 per share to set up the first stock market debut among a fraternity of Internet networking services that's captivating investors.

Recommended for you

Using cellphone data to study the spread of cholera

May 23, 2016

While cholera has hardly changed over the past centuries, the tools used to study it have not ceased to evolve. Using mobile phone records of 150,000 users, an EPFL-led study has shown to what extent human mobility patterns ...

New technique controls autonomous vehicles on a dirt track

May 23, 2016

A Georgia Institute of Technology research team has devised a novel way to help keep a driverless vehicle under control as it maneuvers at the edge of its handling limits. The approach could help make self-driving cars of ...

Solar Impulse plane leaves Oklahoma for Dayton

May 21, 2016

An experimental, solar-powered aircraft took off from Tulsa in the midwestern US state of Oklahoma early Saturday, kicking off the latest phase of its record-breaking quest to circle the globe without consuming a drop of ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.