News Summary: 5 IPOs raise less than hoped

News Summary: After market volatility, 5 IPOs raise less than companies had hoped

Associated Press

FEWER PROCEEDS: The five companies that began trading Thursday raised less money than they had hoped in their initial public offerings of stock after recent market volatility.

STOCKS RISE: But four of the five companies logged first-day trading gains as the broader market rose. HD Supply, an Atlanta-based industrial distributor, raised $957.6 million in its IPO. That's the fifth-largest deal of the year.

COMING UP: More companies expect to tap the market. Burlington Holdings Inc., owner of the Burlington Coat Factory store chain, said it was planning a $175 million IPO.

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