KAYAK, Palo Alto Networks Surge on First Day of Trading; Fender Withdraws Chance

Both of Friday's IPOs for KAYAK (NASDAQ: KYAK) and Palo Alto Networks (NYSE: PANW) saw shares open higher than originally priced.

Yesterday, KAYAK priced 3.5 million shares of Class A common stock at $26.00 per share. Friday, shares opened at about $30.49 per share, an increase of 17 percent. At the time of posting, shares of KAYAK were trading even higher, at about $33.40.

KAYAK is a company that provides free travel tools through its global websites and mobile applications. KAYAK allows users to research and compare different relevant information when searching for flights, hotels, car rentals and vacations from hundreds of other travel websites.

Yesterday, Palo Alto Networks priced 6.2 million shares of its common stock at $42.00 per share. Friday, shares opened at about $55.15 per share, an increase of 31 percent. At the time of posting, shares of Palo Alto Networks were trading up about 33 percent, at about $56.18 per share.

Palo Alto Networks is a network security company that offers innovation to the firewall, which enables applications and control over content by user, not just IP address.

However, not all IPOs opened for trading today that were expected. Fender Musical Instruments announced that it withdrew its planned initial public offering based on current market conditions.

"Current market conditions and concerns about economic conditions in Europe do not support completing an initial public offering at what we believe to be an appropriate valuation at this time," said Fender's Chief Executive Officer Larry E. Thomas in a statement.

Fender, based in Scottsdale, Arizona, was founded by Leo Fender in Fullerton, California, back in 1946.