"Sharpe, an academic instrumental in creating the capital asset pricing model (CAPM) used by professional investors and for which he won the 1990 Nobel Memorial Prize in Economic Science, is co-founder of Financial Engines (FNGN), a company that Tuesday launched a successful initial public offering.
Financial Engines, a company that uses advanced mathematical algorithms to help individuals optimize their retirement investment plans, is the first IPO to price above its expected range in four months, says Richard Peterson of Standard & Poor's.Shares of Financial Engines priced at $12 in the IPO, topping the expected $9-$11 range. Despite the higher-than-expected initial price, the shares closed up 44%"
Thursday, March 18, 2010
William Sharpe launches winning IPO, Financial Engines - USATODAY.com