Reuters: Server appliance maker Cobalt rockets after IPO

"Shares of Cobalt Networks Inc. , the maker of a small, blue server-in-a-box, soared almost 500 percent on Friday in its initial public offering, making it the third biggest initial public offering ever."

"The Mountain View, Calif.-based company develops low-cost, compact server appliances for running Web sites and e-mail that are easy to install. Cobalt servers, one which is called Qube, also run the Linux operating system, the free upstart operating system that competes with Microsoft Corp.'s Windows NT.

"They've got all the magic words between appliances and Linux, but there is also some meat behind this. It's not just smoke and mirrors, it's a real business," said Irv DeGraw, research director at WorldFinanceNet.com."

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