E-business services company Breakaway Solutions should be welcomed by Wall Street when it goes public today. The company priced three million shares at $14 — the top of its revised price range of $12 to $14 — after an original range of $10 to $12. The relatively thin float for the IPO could help boost the stock.
Breakaway is in a red-hot sector, and alliances with Cisco Systems, Microsoft, Oracle, Intel and Broadvision can only help. The company’s customers include Sun Microsystems, Kemper Insurance Companies, iTurf, Portal Software and VerticalNet.
A strong opening by Breakaway could add some luster to the already scorching stock of business-to-business incubator Internet Capital Group, which has a large stake in Breakaway. Both these stocks should be worth watching today.