Two IPOs To Watch This Week
Stocks are higher on a good sales number and merger
talks. Retail sales for November rose +0.1%, better than expected;
+0.5% ex auto.
Peoplesoft
(
PSTFT |
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PowerRating) accepted Oracle’s $10.3 billion bid
($26.50/share). The deal is expected to be completed early January.
Sprint is in talks to buy Nextel for $26 billion.
The Wall Street Journal said an announcement could come as
early as Wednesday. The New York Times reported that Verizon
(
VZ |
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PowerRating)
and Vodafone
(
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PowerRating) could make a higher bid.
Twenty-one IPOs are coming to market this week–the largest number highest since
since September 2000. Of note: Blue Linx (BXC) will offer 9.5 million
shares between $15-$17; the company is the largest distributor of building
products in the US. Las
Vegas Sands, expected to offer 23.8 million shares at $24-$26, up from the
original $20-$22. Proposed
symbol: LVS.
Remember: options and futures expire on Friday.
Strong sectors are: Gold
(
XAU.X |
Quote |
Chart |
News |
PowerRating) +1.92%, Healthcare Providers
(
HMO.X |
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Chart |
News |
PowerRating) +1.52%, Oil
(
XOI.X |
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Chart |
News |
PowerRating)
+1.26%.
Weak sectors are: Airlines
(
XAL.X |
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Chart |
News |
PowerRating)
-0.76%, Retail
(
RLX.X |
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Chart |
News |
PowerRating)
-0.37%.
| Dow | -9.60 | 10,543.22 |
| S&P 500 | -1.24 | 1,188.00 |
| Nasdaq | -0.94 | 2,128.07 |
The dollar is -0.20 at
82.35
Gold is +3.40 to 438.80
Crude Oil is +0.84 at 41.55
1.00 billion on the Nasdaq.
Market breadth is positive.
| NYSE | Issues | |
| Advancing | 1783 | Up Vol 356 |
| Declining | 1322 | Down Vol 188 |
| Ratio | 1.34 | 1.89 |
| Nasdaq |
||
| Advancing | 1487 | Up Vol 624 |
| Declining | 1451 | Down Vol 290 |
| Ratio | 1.02 | 2.15 |
Stocks in the News
Conextant
(
CNST |
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Chart |
News |
PowerRating) guided lower but is now trading up over 3%.
Taser
(
TASR |
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News |
PowerRating) said an independent investigation found that its
technology reduced deadly force litigation and caused fewer injuries.
IMAX
(
IMAX |
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News |
PowerRating) guided higher.
JP Morgan upgraded the video game group, which includes ERTS, THQI and TTWO.
Brice Wightman