E-Tek Shares Surge in First Day of Trading

E-Tek Dynamics Inc., a maker of parts for fiber-optic networks, more than doubled in its first day of trading after selling its shares at a price one-third higher than expected. Shares of the San Jose-based company rose $14.75 to close at $26.75 on Nasdaq. Earlier in the session, the shares touched $29.88. Investors’ appetite for Internet stocks, which has raised the Interactive Week Internet index 76% since Oct. 8, spilled over to E-Tek because it makes components that help fiber-optic cables--which carry Internet traffic--handle signals more quickly and with less interference.