Splunk IPO Doubles on Day One

The Wall Street Journal: Software vendor Splunk saw its shares climb 109 percent on the first day of trading. That's the best debut for a technology IPO so far this year, besting Millennial Media's 92 percent surge on its first day of trading.

Part of the "big data" trend, Splunk's software harvests machine data--the log data from servers, switches and all other devices that connect to an enterprise's network--for analysis. The company has 3,700 customers, but has not yet turned a profit. It reported an $11 million loss for the fiscal year ended in January.