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%.

This Day In History

1983 last NFL game at Shea Stadium

Brice Wightman