This is not a joke people,there are some serious investors here.
please... someone tell me this is a joke... this is enough to make me consider giving up investing all together... martha stewart... renaissance capital's ipo of the week...
Martha Stewart readies IPO
Women.com, PCQuote also on deck
By Steve Gelsi, CBS MarketWatch
Last Update: 4:22 PM ET Oct 11, 1999 Also: Movers & Shakers
NEW YORK (CBS.MW) -- Autumn is the perfect time for table centerpieces crafted from orange foliage, home-brewed apple cider and, apparently, an initial public offering. That's the word from Martha Stewart.
The most famous homemaker of the '90s is expected to kick off her IPO this week as Wall Street comes calling at her sprawling East Hampton colonial.
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In a recent edition of her magazine, Martha Stewart Living, formerly part of the Time Warner (TWX: news, msgs) empire, the TV celebrity and former model wrote about ramping up her Web site to grow her brand in cyberspace.
The Web is a key focal point for Stewart's (MSO: news, msgs) effort to raise a maximum of $108 million with lead underwriter Morgan Stanley Dean Witter.
Big-name backers
Stewart will control the company after the IPO, but shareholders include Time Warner and Silicon Valley venture firm Kleiner Perkins Caufield & Byers.
Citing the quiet period that surrounds initial public offerings, Stewart, through a spokesperson, declined to be interviewed for this story.
The expected price range of the IPO is $13 to $15 per share.
"While the company's fortunes are directly tied to one woman, it has a strong track record and a great brand name," said Renaissance Capital (IPOSX: news, msgs), which picked Stewart as its IPO of the week.
Stewart plans to create new branded products, such as the Martha Stewart Everyday Housewares collection.
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The company is also eyeing growth in its e-commerce business. Stewart's Web site had about 834,000 registered members as of June 1999.
Martha Stewart businesses include a pair of magazines, a TV show, a radio program, 27 books and a line of products sold at Kmart (KM: news, msgs).
Stewart rang up $180 million in revenue and $13 million in pro forma profit last year, according to government filings.
Other IPOs on queue this week include a $34 million IPO for Women.com (WOMN: news, msgs), which has as its lead underwriter Morgan Stanley Dean Witter, and an offering by PCQuote (PCQT: news, msgs), a $45 million deal led by with Prudential Securities. PCQuote is being spun off by HyperFeed Technologies.
E-Stamp posts new gains
Investors stuck with San Mateo, Calif.-based E-Stamp (ESTM: news, msgs) on its second day of trading. Shares added 2 5/8 to 25. On Friday, shares closed at 22 3/8, up 32 percent from an asking price of $17.
Shares of Interwoven (IWOV: news, msgs) of Sunnyvale, Calif. advanced 1 5/8 to 42 5/8 on Monday after the stock more than doubled its $17 price on its opening day Friday.
New York-based Jupiter Communications (JPTR: news, msgs) fell 7 percent to 33 1/8. On Friday, the stock advanced 69 percent over its offering price of $21 on its opening day.
Steve Gelsi is a reporter for CBS MarketWatch
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