Lock-up watch

So far this year, companies with shares coming off of IPO lock-ups have had about a 50-50 chance of having their stock prices fall as a result. The odds held up last week as InterMune (ITMN) added $0.125 to $41.375 on 277,500 shares on Tuesday when the lock-up expired on 8.4 million shares. The pulmonary, infectious and congenital diseases company soared over the remainder of the week to close Friday at $55.375, up $13.625 (33 percent).

On the other side of the ledger, microfluidics play Aclara (ACLA) lost $6.50 (18 percent) to $30.50 on 1.5 million shares on Monday after 9 million shares came off lock-up over the prior weekend. It didn't help that the NASDAQ Composite slid 3 percent on Monday. ACLA, which has divided its lock-up into three dates, closed Friday at $27.875, down $9.125 (25 percent).The final 9 million shares will be released on Nov. 1...