Take a look at LQID
MP3.com should be huge and bring attention to LQID
From NBR:
The BridgeNews IPO Outlook
PAUL KANGAS: With me now to take a look at the condition of the market for initial public stock offerings is Scott Reeves, senior IPO correspondent for BridgeNews. And welcome, Scott.
SCOTT REEVES, SENIOR, IPO CORRESPONDENT, BRIDGENEWS: Thanks for inviting me, Paul.
KANGAS: Is the demand for new issues basically still strong these days?
REEVES: The demand is as strong as ever. We have about that 25 deals coming this week raising several billion.
KANGAS: What are the really the hot ones among these 25 deals?
REEVES: I think one of the hottest of the week will be MP3.com. This is a company for the digital delivery of music via the Internet. It plans to offer 12.3 million at 16 to 18 via C.S. First Boston. It will be a screamer. This was the, interest was shown by the performance of Liquid Audio, which in the long run may be the sector winner.
KANGAS: That came public on July 9 at 15, and I think it went into the mid-40's, right?
REEVES: Opened at 41, hit 48, closed I think at 30 and 3/16.
KANGAS: All right. I understand there's another issue called Gadzooks coming public this week. What do you have on that?
REEVES: Gadzooks will also be a screamer. This is the storage of data on the Internet and intranets. The hook for this one is that unlike most systems which allow you to enter just one bank of storage devices, this system allows you to enter storage devices anywhere on the Internet.
KANGAS: So if you're not connected in some way to the Internet business, I guess your stock isn't going to be that hot, is that true?
REEVES: Dot com mania is alive and well.
KANGAS: Oh, there you go. Let me ask you, Scott, in just the few moments we have left, what do you do if you can't get this? Would you buy it at the open market after it comes and shoots up?
REEVES: I would not. I would wait at least two weeks before jumping in. And with some of these speculative Internet stocks, I'd wait at least a quarter or two to see how the earnings show up, what the revenues are, and wait for clients to settle.
KANGAS: All right. And settle back they do, as we've seen on several occasion, even with Liquid Audio it settled back .
REEVES: Quite a bit, yes. And as I say, over the long haul, Liquid Audio may well be the sector winner.
KANGAS: OK. All right, Scott. Thanks very much for your perspective.
REEVES: Thanks for inviting me.
KANGAS: My guest, Scott Reeves senior IPO correspondent with BridgeNews.
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More News:
MORE NEWS:Universal Plans Digital Music Distribution
Updated 9:20 PM ET July 19, 1999
LOS ANGELES (Reuters) - Universal Music Group, the world's largest music company, announced plans Monday to make its recordings available for digital downloading by the next generation of portable playback devices.
Universal said it is developing software to make a broad array of its catalog compatible with a new version of the pocket-sized Rio player from Diamond Multimedia System Inc. and similar devices from Panasonic and Toshiba, all expected on the market this winter.
The new devices are to incorporate a new industry standard -- dubbed the Secure Digital Music Initiative, or SDMI -- for screening out pirated versions of copyright-protected music.
"This is an important first step in recognizing the tremendous potential of the digital music market," Larry Kenswil, head of advanced technology for Universal Music, a unit of Canadian-based Seagram Co. Ltd., said in a statement "Portability is essential for acceptance of new digital forms of music."
A coalition of music and technology companies, including Universal and the four other major record labels -- BMG, EMI Music, Sony Music and Warner Music -- approved a plan last month to a devise a secure compression standard that would thwart digital piracy.
Adoption of the SDMI plan marked a turnaround from the music companies' earlier fear of digital playback devices. And it came less than two weeks after a federal appeals court ruled that the Rio, which uses the popular MP3 format for compressing and downloading digital audio files from the Internet, did not violate copyright laws.
A number of major recording artists have individually released music over the Internet, including David Bowie, Tom Petty, Public Enemy, the Beastie Boys, Red Hot Chili Peppers and Def Leppard.
And last month, EMI Recorded Music announced it had contracted with Liquid Audio Inc., a California company, to use its format to encode EMI's huge library of songs so they can be delivered over the Internet while protecting against unauthorized copying.
But Universal's announcement marks the first time one of the major record companies has stated its intention to make its catalog available specifically for portable devices that are SDMI-compatible, Universal spokesman Bob Bernstein said.
Universal Music Group comprises such labels as A&M, Decca, Def Jam, Geffen, Impulse!, Interscope, MCA, MCA Nashville, Mercury, Motown and Verve. Its catalog includes such artists as rap-rock group Limp Bizkit, country star Shania Twain, rapper Eminem and R&B singer Mary J. Blige.
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