NEW YORK (CNNfn) - Online-related IPOs took to the forefront of the Nasdaq Thursday, with Organic Inc. still the big winner despite a quick descent from its midday high, but shares of the nation's largest disability insurer suffered after a greater-than-expected drop in fourth-quarter revenue.
Web-solution company Organic Inc. (OGNC) jumped 111 percent in its first day of trading. Shares of the San Francisco-based company rose 22-1/8 to 42-1/8; at one point the stock traded as high as 60 before retreating.
Witness Systems (WITS), a company that makes software for monitoring business interaction, also did well with its IPO. Witness rose 104 percent, up 20-7/8, to 40-7/8.
XCare.net, part of the hot business-to-business Internet sector, rose 13-1/4, or 74 percent, to 31-1/4. The Englewood-Colo.-based company came off an intraday high of 42.
Hong Kong-based China Prosper (CPIH: Research, Estimates) was the highest flyer on the Nasdaq, with shares jumping 126 percent, after the company announced it was investing in broadband Internet in China.
Shares of China Prosper rose 12-5/8 to 22-5/8.
UnumProvident Corp. (UNM: Research, Estimates) dropped more than 37 percent, after the insurer said fourth-quarter operating income fell 24 percent, much more than expected.
A series of high-profile stock downgrades followed Thursday, with J.P. Morgan, Donaldson Lufkin & Jenrette, and Morgan Stanley Dean Witter all lowering their recommendations on the stock.
Portland, Me.-based UnumProvident dropped 9-5/8 to 16-1/16.
But TCBY (TBY: Research, Estimates), the yogurt retailer, soared 49 percent, after saying Capricorn Investors III will buy it for $6 per share, a 68 percent premium over Wednesday's closing price.
Little Rock, Ark.-based TCBY jumped 1-3/4 to 5-5/16.
Shares of AHL Services (AHL: Research, Estimates), a provider of outsourcing in the United States and Europe, fell sharply, after the company announced fourth-quarter earnings would be below expectations.
Atlanta-based AHL fell 4-15/16, or 35 percent, to 9-5/16.
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