Stock Watch: LoudEye Surges on First Day

LoudEye Technologies, Inc. nearly tripled in its first day of trading Wednesday, closing at 40 after starting the day at an IPO price of 16.

The Seattle, Washington-based company, which provides Internet audio and video encoding services to companies including BMG Music, Walt Disney Co. and Sony Corp., said it will use the $72 million in proceeds for working capital and capital spending.

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