Palo Alto Surges in Public Debut; Fender Withdraws IPO

Palo Alto Networks Inc. and Kayak Software Corp. jumped in their trading debuts after raising more than planned in initial public offerings, bolstering the revival in technology IPOs.

Palo Alto climbed 27 percent to $53.13 as of 4 p.m. in New York, while Kayak rose 28 percent to $33.18. Palo Alto sold 6.2 million shares at $42 each yesterday, generating more than $260 million, while Kayak sold 3.5 million shares at $26 each to raise $91 million. Both priced their sales above the proposed ranges.