LiveDeal Acquires; Parsley Energy Soars on IPO

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LiveDeal Acquires; Parsley Energy Soars on IPO

LiveDeal, Inc. (NASDAQ: LIVE) share soared this past Friday after the company reported that it has a current cash position of almost $10 million, which it intends to invest in the company's expected growth through acquisition. Two weeks earlier, LiveDeal announced that it had acquired deals site "LiveDeal's main focus is now squarely on competing in the online/mobile deal space and building a framework for success around its real-time and instant offers platform," the company said in a statement.

LiveDeal, Inc., together with its subsidiaries, provides customer acquisition and online listing services for small and medium-sized local businesses in the United States. It offers online presence marketing products, including template and custom Website design for desktop or mobile devices; social media marketing; and content marketing, such as blog postings and commenting, updating client’s Websites, blog commenting, social bookmarking, social media directory listing, and profile submission to the search engines.

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Parsley Energy, Inc. (NYSE: PE) made its debut on the NYSE in its IPO this past Friday. The stock opened higher on Friday after the oil driller and some of its early shareholders sold more shares than planned at a higher price than expected in an IPO., according to the Wall Street Journal. Parsley and the existing holders sold 50 million shares for $18.50 each, raising $925 million before the potential sale of additional shares to underwriters. That topped Parsley's expectation for a 43.9 million-share offering fetching between $15 and $18 a share, according to a regulatory filing, the Journal said. 

 Parsley Energy, Inc. is engaged in the acquisition, development, production, exploration, and sale of crude oil and natural gas properties located primarily in the Permian Basin region of West Texas. The company primarily holds working interests in the Delaware Basin, as well as in 530 gross producing wells located in the Midland Basin.

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