Terms of the IPO are for 11 million shares in a price range of $15 to $17 per share. Joint book-runners are Morgan Stanley, J.P. Morgan, and UBS Investment Bank. Co-managers in the offering are Allen & Company, Evercore Partners, and William Blair. At the middle of the price range, Gogo would have a market cap of close to $1.4 billion.

Gogo’s North American airline partners include Delta Air Lines, American Airlines, US Airways and Alaska Air. The company represents that as of April 30, 2013 it had 1,908 commercial aircrafts online, which was shown to represent about 81% of internet-enabled North American commercial aircraft. Gogo also said that it has signed contracts with airline partners to install Gogo on 390 additional aircraft operated primarily in North America and it expects to complete roughly 140 of those installations by the end of 2013. Gogo sells in-flight internet connectivity and other voice and data communications products and services under the Gogo Biz and Aircell brands.

For the three-month period ended March 31, 2013 revenue increased 30.4% to $70.8 million from $54.3 million in the same quarter of 2012. Its net loss increased from $3.5 million to $14.5 million. The company’s revenue increased 46% from $160.2 million in 2011 to $233.5 million in 2012.

The company shows that it is in the “exploitation, development and acquisition of natural gas, NGLs and oil properties located in the Appalachian Basin in West Virginia, Ohio and Pennsylvania.” Underwriters are listed as Barclays, Citigroup, J.P. Morgan, Credit Suisse, Jefferies, and Wells Fargo.

At the end of 2012 its estimated aggregate proved, probable and possible reserves were 26.1 Tcfe, and its 4.9 Tcfe of proved reserves were 21% proved developed and 75% natural gas. Its drilling inventory consisted of 4,923 identified potential horizontal well locations and 79% of those are called liquids-rich drilling opportunities.

Its plan to develop shareholder value is via its portfolio of repeatable, low cost, liquids-rich drilling opportunities in two of the top North American shale plays. Antero holds about 317,000 net acres in the southwestern core of the Marcellus Shale and roughly 94,000 net acres in the core of the Utica Shale. The company also projected that about 194,000 net acres of its Marcellus Shale leasehold are prospective for the slightly shallower Upper Devonian Shale.

The company said, “Our net daily production in the first quarter of 2013 averaged 383 MMcfe/d, including 2,392 Bbls/d of NGLs and oil. Further, our estimated average net daily production for the month of May 2013 was 461 MMcfe/d, including 4,114 Bbls/d of NGLs and oil. We grew proved reserves at a compounded annual growth rate of 96% from 2006 to 2012, despite the 2012 divestiture of our Arkoma and Piceance Basin properties. Additionally, during 2012, we increased our Appalachian proved reserves by 73% to 4.9 Tcfe at year end.”

Antero’s 2013 capital budget is listed as $1.95 billion, including $1.20 billion for drilling and completion in its operated drilling in liquids-rich gas areas. As of March 31, 2013, Antero had spent approximately $548 million of that 2013 capital budget. Below is a current image showing its footprint of shale plays.

While a 2.2% dividend yield might not sound like a very high dividend for those who chase the high dividend yields in riskier sectors, that is still a higher yield than 8 of the 30 Dow Jones Industrial Average components pay right now. IndexArb.com represents that the aggregate S&P 500 dividend yield is 2.26% and that the aggregate DJIA yield is 2.66%. All of a sudden a 2.18% dividend sounds rather ambitious considering that the company is a new IPO. You have to remember that management of public companies often sets their dividend payments up to where it is sustainable in future weak business cycles and to where a dividend can be grown in normal cycles.

Where this dividend will not sound great is when you compare the yield to the 6% or so paid by Cedar Fair L.P. (NYSE: FUN). That dividend was raised in 2013 by more than 50%. Six Flags Entertainment Corp. (NYSE: SIX) yields 4.7%. The common stock dividend is payable on July 1, 2013 to stockholders of record at the close of business on June 20, 2013.

SeaWorld shares closed down 1.1% at $36.61 and its post-IPO trading range is $30.26 to $39.65. The current consensus SeaWorld share price target is $41.13.

Wednesday’s IPO is for 6,750,000 shares of common stock with a price of $19.00 per share. We had been given a price range of $18 to $20 per share, so this was right in the middle. Gigamon is offering 4,500,000 shares and certain selling stockholders are offering 2,250,000 shares.

As usual, Gigamon will not receive any of the proceeds from the sale of the shares being sold by the selling stockholders.

Goldman Sachs, BofA/Merrill Lynch and Credit Suisse were the lead joint book-running managers. Also in the syndicate we have Barclays as a joint book-running manager and Raymond James as co-manager. In addition, Gigamon has granted the underwriters a 30-day option to purchase up to 1,012,500 additional shares of common stock. The overallotment shares are listed as being from Gigamon itself rather than the selling shareholders.

Right after the opening shares were up at $24.50, on more than 500,000 traded in the first few minutes of the session.

UPDATE: At 11:35 AM EST we have Gigamon shares up 38.5% at $26.30 on more than 10.5 million shares trading on the debut session alone.

First Solar’s “use of proceeds” said that the company intends to capital for general corporate purposes. This was specified as being for acquisitions of under development photovoltaic solar power system projects, investments in photovoltaic solar power system projects that will be jointly developed with strategic partners and capital expenditures or strategic investments to develop certain business units and expand in new geographies.

What was not specified was any long-term government loan repayments, but we suspect that First Solar has made this filing to allow for the possible repayment of at least part of a Department of Energy loan just like you saw with Tesla. After all, the stock had rallied exponentially and the secondary offering was at least temporarily well received after the loan repayments.

J.P. Morgan Securities, Morgan Stanley, BofA/Merrill Lynch and Citigroup are the joint book-running managers. The book-running managers are listed as Credit Suisse, HSBC, Credit Agricole CIB and Goldman Sachs. First Solar has granted these underwriters a 30-day option to purchase up to 1,275,000 shares of common stock.

Shares of First Solar closed down over 7% at $52.29 on Tuesday against a 52-week trading range of $12.50 to $59.00. While shares were up almost 70% so far in 2013 even after the 7% price drop, the initial after-hours reaction had shares down another 4%.

First Solar had a closing bell market cap of about $4.6 billion. Its March 30 cash balance and short-term investments was more than $1 billion, but First Solar carried $501 million in long-term debt and $560 million in “other” liabilities.

The stock opened at $8.00 on the IPO date, and it was only on last Friday that the stock managed to rise above the first day’s closing price of $7.39. It seems as though the underwriting analyst quiet period is playing the bulk of the role for the interest after a positive drug study review last week.

At the IPO, Ambit sold 8,125,000 shares of common stock at $8.00 per share. Volume has been very weak since the IPO, but the stock is now currently up almost 3% at $8.02 in the first hour of Monday’s trading, and this puts it within striking distance of the $8.24 post-IPO high. The analyst community has been positive in the formal ratings, but the implied upside may be more than 50% if these analysts are correct.

• BMO Capital Markets started coverage at Outperform with a $10 price target.
• Citigroup started coverage with a Buy rating and issued a $13 price target.
• Leerink Swann started coverage at Outperform with $14 price target.
• R.W. Baird started coverage with an Outperform rating and a $14 price target.

This culminates the ratings from all four firms in the underwriting syndicate. All ratings are very positive, with the lowest projected upside to the price target being more than 25%. If you take a mean consensus price target of the four analysts, you get an consensus price target of $12.75. That in turn implies upside of more than 50% from the group of analysts.

Ambit’s lead drug candidate is called Quizartinib and was given a positive presentation at the recent American Society of Clinical Oncology (ASCO) annual meeting. The phase II trial was positive and Ambit sees phase III trials starting in early 2014. This is the company’s investigational once-daily inhibitor of FMS-like tyrosine kinase-3 for patients with relapsed/refractory acute myeloid leukemia and in newly diagnosed AML patients in combination with chemotherapy.

News hit ahead of the S&P 500 index addition that the US Treasury is selling another 30 million GM shares, and wire reports showed after the close that the sale was at a price of $34.41 per share. Another 20 million shares are said to be sold by a UAW retiree health care trust fund as well. We are not so interested in the exact number of shares being sold by the Treasury because they still hold many more shares, but it seems very possible that Berkshire Hathaway Inc. (NYSE: BRK-B) might be taking advantage of a way to buy shares here without having to go out on the open market.

Berkshire Hathaway’s latest full equity holdings showed that the conglomerate owned some 25 million shares of GM stock. This was the same stake as at the end of 2012, but Berkshire Hathaway was busy growing this stake in 2012. One reason we cannot help but wonder if GM is being acquired is that we just featured GM as one of the 11 Best Warren Buffett Stocks to Buy because it still has so much upside to the analyst fair value model from Wall Street.

Another reason that Team Buffett may have bought more stock is the “bet on America” stance it has taken. Buffett is a supporter of most things that the Obama administration has done, and the administration was largely behind the bailout of GM during the financial crisis. This would give Mr. Buffett yet another chance to vocalize that support for the administration and for America without having to make any formal political statements at all.

GM shares closed up 1.2% at $34.44 against a 52-week trading range of $18.72 to $35.49. Thomson Reuters has a consensus price target of $39.82 for the stock one-year out and GM’s market cap is over $47 billion according to Yahoo! Finance. You can see the strong GM stock performance from the Stockcharts.com image below.

The MLP is expected to own a minority interest in Devon’s domestic midstream business, which includes natural gas gathering and processing assets located in Texas, Oklahoma and Wyoming. Just be advised that this will not come immediately as the company said that it plans to file the U.S. Securities and Exchange Commission (SEC) registration statement in the third quarter of 2013.

The MLP, business of which will include natural gas gathering and processing assets in Texas, Oklahoma and Wyoming, likely will file a registration statement with the SEC in the third quarter of 2013, and depending on market conditions Devon said an offering of partnership units in the MLP would follow.

Read also: MLP Risks Under Rising Interest Rates

Devon’s press release showed that it will own the general partner of the MLP, all of its incentive distribution rights, and a majority of its common units following completion of the initial public offering. It also said that it expects to use the sale proceeds from MLP common unit offering to fund its continuing operations. We also expect that Devon will have to be very muted about the developments here because Devon said, “Due to limitations imposed by U.S. securities laws, Devon will not be holding a conference call to discuss the content of this release.”

Devon shares are down on the news by 1.5% to $55.77, with a $22.6 billion market capitalization. Its 52-week trading range is $50.81 to $63.95, and the consensus analyst price target is $70.35, according to Thomson Reuters. Devon’s common stock dividend yield is only 1.5%, and we have no way to judge what sort of MLP distribution “yield equivalent” will be as of yet.

Read also: 10 Oil and Gas Stocks to Buy from Deutsche Bank

Terms were not disclosed other than that the filing is for up to $345 million in stock. Citigroup is currently listed as the only underwriter for the offering. You might not have heard of the company itself, but it is another private equity-backed deal coming out of Apollo Global Management LLC (NYSE: APO). Athlon intends to list its stock on the New York Stock Exchange under the ATHL stock ticker.

Athlon was founded in August 2010 by a group of former executives from Encore Acquisition Company, following its acquisition by Denbury Resources Inc. (NYSE: DNR). Its trailing 12-month sales as of the first quarter of 2013 were already about $179 million. Another represented figure is that its acreage position was 124,925 gross (98,348 net) acres at May 31, 2013, and it indicated that it plans to invest $350 million of development capital in 2013.

FULL S-1 SEC FILING

A graphic from the company’s IPO filing has been provided here.

Cellular Dynamics develops fully functioning human cells in industrial quantities to precise specifications. Its proprietary iCell Operating System includes true human cells in multiple cell types and human induced pluripotent stem cells. Its products provide standardized and cost-effective access to the human cell for drug discovery and screening. Other uses include testing the safety and efficacy of their small molecule and biologic drug candidates, stem cell banking, and in researching cellular therapeutics.

The company’s customers include biotech companies, government research institutions, academic and nonprofit research institutions, clinical research organizations and stem cell banks. During 2012, the company claims to have sold its products to 18 of the top 20 biopharmaceutical companies based on worldwide revenue. It also grew its number of clients to 128 in 2012 from just 60 in 2011.

Revenue in the year 2011 was $1.46 million and that grew to $5.178 million in 2012. Sales in the first three months of 2012 were $643,000 but that grew to $1.754 million for the first three months of 2013.

FULL S-1 SEC FILING