Next Week Is Big For IPOs—Especially This Name
Stocks were slightly lower after some surprising
economic data. PPI for November 0.5%, much more than expected; core
rose +0.2%, inline. Consumer sentiment improved in December. The University of
Michigan Consumer Sentiment Index rose to 95.7, from 92.8 in November.
Stocks were lifted briefly earlier when GE said it will buy back $15
billion in stock over the next 3 years and will increase its dividend 10%.
Oil fell even after OPEC said it will cut production by 1 million bpd. OPEC
meets again January 30.
Expected terms of the Nextel/Sprint deal: Sprint will offer 1.3 shares
for each Nextel share. Gary Forsee will be CEO. The deal is likely to be
announced next week. Johnson & Johnson is nearing a deal to acquire
Guidant.
IPOs today include: Adeza Biomedical (ADZA), $16; Bill Barrett (BBG), $25;
House Values (SOLD) $15, Community Bancorp (CBON), $23; First State Fin $12 (FSTF).
Sixty IPOs were priced in Q4; 66 in Q3. Five IPOs were priced at the high end of
the range just this week. Next week, 20 IPOs are scheduled–including Las
Vegas Sands, expected to offer 23.8 million shares at $20-$22. Proposed
symbol: LVS.
Briefing.com reports that the following stocks may be added to the Nasdaq
100: ADSK, ERICY, LBTYA, MCIP, NTLI, SIRI and XMSR. Deleted may be: CPWR, NVDA,
HSIC and RYAAY.
Reminder: roll index futures to March–ESH5, YMH5, NQH5.
Strong sectors were: Healthcare Providers
(
HMO.X |
Quote |
Chart |
News |
PowerRating) +1.11%,
Brokers
(
XBD.X |
Quote |
Chart |
News |
PowerRating) +0.97%, Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) +0.63%.
Weak sectors were: Gold
(
XAU.X |
Quote |
Chart |
News |
PowerRating) -0.92%,
Drugs
(
DRG.X |
Quote |
Chart |
News |
PowerRating)
-0.90%, Oil
(
XOI.X |
Quote |
Chart |
News |
PowerRating) -0.84%.
Dow | -9.60 | 10,543.22 |
S&P 500 | -1.24 | 1,188.00 |
Nasdaq | -0.94 | 2,128.07 |
The dollar was +0.51 at
82.58
Gold was +0.50 to 434.50
Crude Oil was -1.93 at 40.60
ce=”Arial” size=”2″ face=”Arial”>Volume was 1.44 billion on the NYSE and
1.77 billion on the Nasdaq.
Market breadth was positive.
NYSE | Issues | |
Advancing | 1736 | Up Vol 616 |
Declining | 1527 | Down Vol 715 |
Ratio | 1.13 | 1.16 |
Nasdaq |
||
Advancing | 1650 | Up Vol 786 |
Declining | 1460 | Down Vol 900 |
Ratio | 1.13 | 1.14 |
Stocks in the News
Delphi
(
DPH |
Quote |
Chart |
News |
PowerRating) said it expects a net loss in Q4 2004 and 2005 and will
cut 8500 jobs.
United Technologies
(
UTX |
Quote |
Chart |
News |
PowerRating) said
it is comfortable with analyst expectations for 2004.
Ameritrade
(
AMTD |
Quote |
Chart |
News |
PowerRating) guided higher.
Monster.com
(
MNST |
Quote |
Chart |
News |
PowerRating) was mentioned
positively in Barron’s Online.
Patients taking Pfizer’s
(
PFE |
Quote |
Chart |
News |
PowerRating) Bextra
were more likely to have blood clotting problems after heart surgery, The New
York Times reported.
CIBC raised its priced target on Sirius
(
SIRI |
Quote |
Chart |
News |
PowerRating)
to $9.
This Day In History
1983 last NFL game at Shea Stadium
Brice Wightman