percent after the completion of its IPO last week.

The computer chip maker Marvell Technology shook up the tech market and become the latest Internet winner after the market was left stone-cold last month.

Marvell Technology Group Ltd announced on Friday it had completed its $103.5 million IPO and made its debut June 27 at $15.

After soaring to $63.31, the price dropped to $55.25 at the close of business on Friday. But analysts predict that the first rush on the shares will subside and the price drop even further.

Marvell is one of the 18 IPOs in the past year that have closed more than 300 percent above its offering price on the first day of trading.

Eleven of those stocks have since had their price cut by 50 percent or more since the close of the first day's trading.

Almost all of these much-hyped stocks came on the market between October and March, when the Nasdaq was reaching its all-time high.

After the Nasdaq sell-off in March there was a lull in IPOs and many companies cancelled their plans to go public. Those companies that went ahead did not see anything like a 300 percent rise in price.

Marvell sold 6,900,000 shares of common stock at $15.00 per share. The shares sold included 900,000 shares to cover the exercise of the underwriters' over-allotment option. The shares trade on the Nasdaq under the symbol `MRVL.' The company said it anticipates using the net proceeds from the offering for general corporate purposes, including working capital and capital expenditures. The offering was led by Goldman, Sachs & Co., and co-managed by Lehman Brothers and J.P. Morgan & Co.

Marvell is based in Bermuda and through its subsidiaries designs, develops and markets integrated circuits incorporating mixed-signal processing technology for communications-related markets to enable customers to store and transfer digital data on demand at high data access rates.

EARTHPORT IN `STRATEGIC DEAL' BUC EarthPort in `strategic deal' Bermuda-based EarthPort has agreed to license 101010's infrastructure technology, eCore Infrastructure, to Bluestone Capital Partners LP for use in Bluestone's global online trading and investment banking portal, Trade.com.

101010's eCore Infrastructure technology will enable Trade.com to automate the worldwide delivery of its trading and banking customers' online products and services across multiple delivery channels. Through 101010, EarthPort will receive an initial licence fee and an annual maintenance fee, as well as revenue for implementation and development work over a two year period.

According to EarthPort, this strategic deal demonstrates the company's ability to service the infrastructure needs of worldwide business-to-business trade exchanges and business-to-consumer portals.