The eyes and ears
of the financial world were glued to the corner of Broad and Wall Streets on
Friday. The granddaddy of the U.S. stock
market indexes, theDow Jones Industrial Average,
plunged over 500 points for the day and lost over 1,000 points for the week.
The Dow moved into correction mode – a drop of 10 percent or more from a
previous high. As the Dow’s decline picked up speed on Friday, the news
coverage became more somber.
The IPO Express blew
through Wall Street on its final run of the summer last week and its cargo did
not disappoint: It delivered an opening-day moonshot and a blank check that had
some pop.
This week is the IPO calendar’s final summer run – or for
fans of the late disco diva Donna Summer, it’s the “Last Dance” before Labor
Day. Five deals are set, with bankers expecting to raise a little over $550
million. Then there is nothing on tap until after Labor Day, which falls on
Sept. 7 this year.
Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums), is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO.
