All 3 IPOs Go Hot (ET, VNTV, CSTE)

On a day that the broad market is in the red, you might not expect the world of initial public offerings to be too great.  As it turns out, it is.  All three of today’s IPOs are up in their debut trading day.

ExactTarget, Inc. (NYSE: ET) is in on-demand marketing software and its shares priced at $19.00 in an 8.5 million share offering.  Shares are now trading up around $24.75 and there have already been more than 8.6 million shares traded.  It is safe to assume that the overallotment option was exercised.

Vantiv, Inc. (NYSE: VNTV) is a third-party payment processor and it sold more than 29 million shares at $17.00 in the middle of the $16.00 to $18.00 range.  It popped and never looked back.  Shares are trading up at $19.75 on more than 16 million shares.

Caesarstone Ltd. (NASDAQ: CSTE) is a quartz surface pioneer and global leader.  It sold 6 million shares at $11.00.  We have seen only 3.7 million shares trade hands and the stock is up at $11.08 so far today.  Of the IPOs today, this is the least hot of the lot but it is still up on the day.

JON C. OGG