E-Commerce News: News: Stock Watch: Retek IPO More Than Doubles

Web 2.0 is Here– Is Your Web Infrastructure Ready?
Web 2.0 has paved the way for a new level of interaction between shoppers and retailers. However, without rapid delivery of your rich Web content, the benefits will go unrealized. Maximize the value of your interactive Web site. Read White Paper Now.

The initial public offering of Retek (Nasdaq: RETK) also had a strong showing on Friday. Retek develops business-to-business software that helps retailers interact with other parts of their supply chain. Retek priced 5.5 million shares at $15, after a revised range of $12 to $14 and an original range of $10 to $12. Shares of Retek gained 17-9/16 to 32-9/16 on Thursday, a gain of 117 percent.

"Business-to-business software" is a magical phrase in the minds of investors right now, so Retek, which has a customer base that includes Eckerd and Ann Taylor, could be one of those stocks that gets off to a hot start and doesn't cool off for a while. Like MetaSolv, Retek is profitable. Shares of Retek were up 2-3/4 to 35-5/16 in early trading today.