News Summary: Bloomin' Brands up in trading debut
Outback parent shares rise on 1st day of trading on the Nasdaq
THE NEWS: Shares of Bloomin' Brands Inc., which operates Outback Steakhouse, rose nearly 13 percent on its first day of trading on the Nasdaq.
THE CONTEXT: After being priced at $11, the stock rose $1.41, or 12.8 percent, to close at $12.41. The rise in shares was a positive, but it only came after Bloomin' Brands reduced the size of the offering. The timing of the IPO coincides with the final week before many on Wall Street go on vacation.
OTHER IPOS: Other companies slated to go public this week are Carl's Jr. and Hardee's parent CKE Inc. and soccer club Manchester United.
