Iraq contractor's (Halliburton) shares surge in NY market debut

[NNN0LHI]

http://www.bruneitimes.com.bn/details.php?shape_ID=10963

18-Nov-06

SHARES of KBR Inc., the controversial engineering and military-services contractor unit of Halliburton Co, rose as high as 25per cent in their market debut last Thursday after being priced at the top of their forecast range.

KBR, the Pentagon's largest private contractor in Iraq, has faced several investigations into alleged overbilling there, as well as for its links to Iran, where US companies are forbidden by law from operating, and in Nigeria, where its consortium is accused of rigging project bids.

But while the company may be known for such controversies, investors are looking past them, said Francis Gaskins, president of IPO Desktop, a research firm based in Marina del Rey, California.

[annabanana]

1. I wonder...

If they hold them a long time. . will they be glad?

[conscious evolution]

2. As P.T. Barnum would say

There's a sucker born every minute.

[MercutioATC]

3. It has nothing to do with "suckers"...plenty of people made a LOT of money.

...and money is what the market is about.

As an aside, the New York Mercantile Exchange (NMX) began trading on Friday. IPO'd at $59. Opened at $120. High for the day was $150 and it closed at $133.

....not bad money for 7 1/2 hours.