Shares of mobile ad firm Millennial Media nearly doubled in their debut yesterday, closing at $25. Baltimore-based Millennial Media priced its shares Wednesday night at $13. The company sold 9.2 million shares, while selling shareholders sold 1 million shares.
Bigger Apple
New York City’s economy may generate 163,600 more jobs over six years than forecast by the state Labor Dept., the Independent Budget Office said. The revision calls for job gains of 435,000 from 2011 through 2016, up from 271,400.
No cents
Canada’s government announced it was going to withdraw the penny from circulation because it costs more to produce than its face value.
Zing-a
Zynga’s secondary offering — intended to boost the amount of stock available to the public, reduce volatility and enable insiders to cash out — priced at $12 per share.
Real incomes
The Commerce Department said real disposable income rose to a seasonally adjusted annual rate of $11.73 trillion, $10.6 billion more than previously estimated.
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Millennial Media, Independent Budget Office, Labor Dept., Millennial
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