Recapping the day's news and newsmakers through the lens of CNBC.
If there's any doubt that the IPO market has blossomed this year, Container Store's opening pop should settle the debate. Shares doubled on Friday to $36 from an offering price of $18. The Coppell, Texas-based company is not some sexy techie, either. It sells mundane items like laundry baskets and luggage. The company, which has 63 stores in 22 states, prides itself on top-notch employee relations and training. It hires only 4 percent of applicants and repeatedly lands on Fortune's list of best companies to work for. It plans 10 percent annual growth in square footage, to eventually have 300 stores.
"Talent's the whole ball game. ... Our most important foundation principle is [that] one great employee can do the work of three good employees. So one equals three is the most important thing we do."—Container Store CEO Kip Tindell
"When people don't buy bigger or better houses they feel the need to make better use of their existing space, which benefits a company like this."—Jay Ritter, a finance professor at the University of Florida