IPOs In Focus This Week: Here Are Some Names To Watch
Stocks are flat on Tuesday as profit warnings from
Nucor and Hot Topic balanced a good earnings report from Lennar.
Hot Topic
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PowerRating) said sales for the quarter are falling short and
lowered profit projections.
Nucor
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PowerRating) lowered guidance for Q2 to the low end of the range.
Lennar
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PowerRating) reported Q2 earnings that beat by 0.20 and guided
higher. The average sales price rose 12%; gross margins rose 24.8%.
Kroger
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PowerRating) reported 0.40,5 cents ahead of expectations and boosted
its 2005 view.
Retail/wholesale propane company Inergy Holdings (NRGP) went public
today, with its IPO pricing at $22.50, above the expected $19-$21 range. The
stock is trading at 27.91. Also this week, look for Eagle Bulk Shipping (EGLE,
$16-$18), Builders FirstSource (BLDR, $15-$17), Celldex Theraputics
(CDEX, $8-$10) and Allion Healthcare (ALLI, $12-$14).
CEO Confidence rose 11% in June to 165.1, from 146.8 in May.
Strong sectors are:Â Software
(
$XAL.X |
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PowerRating)
+0.63%Â Â Â Â Airlines
(
$XAL.X |
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PowerRating) +0.60%Â Â Â Â
Healthcare Providers Â
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PowerRating)
+0.50%Â Â Â Â Â Â
    Â
Weak sectors are: Â Oil Services
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$OSX.X |
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PowerRating)
-1.43%Â Â Â Natural Gas
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$XNG.X |
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PowerRating)
-1.04%Â Â Â Â Oil
(
$XOI.X |
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PowerRating) -0.90%Â Â
| Dow | +1.85 | 10,610.96 |
| Nasdaq | +2.06 | 2090.19 |
| S&P 500 | -1.14 | 1214.96 |
The dollar is -0.09 at
88.40
Crude Oil is -0.26 at
59.62
Gold is +1.10 at 436.60
624 million on the Nasdaq.
Market breadth is mixed.
| NYSE | Issues | |
| Advancing | 1441 | Up Vol 265 |
| Declining | 1593 | Down Vol 301 |
| 1.05 | 1.13 | |
| Nasdaq |
||
| Advancing | 1487 | Up Vol 289 |
| Declining | 1314 | Down Vol 273 |
| 1.13 | 1.05 |
Stocks in the News
Maytag
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PowerRating) received a $1.28 billion offer from Bain Capital
Partners, Blackstone Capital Partners and China’s Haier America Trading. The
offer is 15% higher than the current merger deal with Ripplewood Holdings.
China National may offer $20 offer for Unocal
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PowerRating),
topping Chevron’s $27 billion cash and stock bid.
Tommy Hilfiger
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TOM |
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PowerRating) may be acquired by Jones Apparel
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PowerRating)
or Van Heusen
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PNH |
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PowerRating), the Deal.com reports..
Biomet
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PowerRating) warned and said it will restructure its spinal
products division,. The stock was downgraded at RBC to sector perform.
Brice Wightman