According to a press release, Jeff Maggioncalda, President and CEO of Financial Engines Inc., will ring the NASDAQ opening bell remotely from San Jose, California this morning at 9:30 a.m. EDT (6:30 a.m. PDT) to celebrate the company’s initial public offering on NASDAQ.
Financial Engines will trade under the ticker symbol FNGN (see Financial Engines Gears Up for IPO).
Update:The company and its owners sold 10.6 million shares at $12 each — above their expected range of $9 to $11 (the first time in 2010 that an IPO priced above its target, according to Silicon Valley Mercury News). The stock ended its first day of trading at $17.25/share – up $5.25, or 43.8%.
Financial Engines offers both online advice and professional management to meet the needs of different investors, and was cofounded in 1996 by Nobel Prize-winning economist Bill Sharpe. Financial Engines offers its advisory services directly through plan sponsors and via retirement plan providers.
The ceremony will be broadcast live on the NASDAQ seven story high Tower in Times Square and via satellite to national and international media.
The Opening Bell is a ceremonial event that represents NASDAQ’s virtual market model. As a result, NASDAQ can be opened from any location bringing together investors and market participants from around the world to mark the beginning of the trading day, according to a press release.
A live webcast of the NASDAQ Opening Bell will be available at http://www.nasdaq.com/reference/marketsite_about.stm.