Creative Computers’ Shares Soar on IPO News

Shares of Creative Computers Inc. soared 66% after the company said it will proceed with a delayed initial public offering of its unit that auctions computers over the Internet. The Torrance-based company, which also sells computers through catalogs, postponed the sale in September after Internet-related stocks plunged. Creative Computers filed a preliminary prospectus to sell as much as $22 million in stock of its UBid Inc. subsidiary. Shares skyrocketed $11.88 to close at $29.75 on Nasdaq.