Network gear maker Cyan recoups losses in debut

By Aman Shah (Reuters) - Optical network equipment supplier Cyan Inc recovered early losses on its heavily traded market debut as investors look to its ability to reduce dependence on a single customer. Nearly 3.5 million shares had been traded by 2.00 p.m. ET, making Cyan the fifth most-traded stock on the New York Stock Exchange on Thursday afternoon. The Petaluma, California-based company priced 8 million shares in the offering at $11 each, the mid-point of its planned price range, giving it a market valuation of about $490 million. ...



via Tech News Headlines - Yahoo! News http://news.yahoo.com/network-gear-maker-cyan-recoups-losses-debut-185040392.html