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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Voltaire who wrote (35073)	3/31/2001 7:57:50 PM
From: im a survivor	Respond to of 65232

Tom......talk to me privately tomorrow or monday when I have some time........not on the thread...privately...either via pm or by phone keith

To: Voltaire who wrote (35073)	3/31/2001 8:40:48 PM
From: stockman_scott	Read Replies (2) \| Respond to of 65232

IPO market ends slowest quarter in more than a decade By Emma-Kate Symons <<NEW YORK, March 30 (Reuters) - The first quarter was the slowest for new stock offerings in more than a decade, despite this week's multibillion-dollar spinoff of Lucent Technologies' Agere Systems Inc. Only 25 companies went public in the first three months of 2001, a low unseen since the fourth quarter of 1990 when 19 initial public offerings were completed, according to figures provided by Thomson Financial Securities Data. More than $7 billion was raised from IPOs in the first quarter, compared with $16.9 billion in the same period a year ago, when more than 100 companies went public. Most of the first-quarter IPO proceeds, however, came from two spinoffs. KPMG Consulting Inc.'s (NASDAQ:KCIN) $2 billion debut and Agere's $3.6 billion IPO contributed $5.6 billion to the total. The deal flow is unlikely to pick up anytime soon, fund managers and analysts said. "The market won't pick up until Nasdaq can stabilize and start to show it can hold above the levels where it is now," said Alan Loewenstein, assistant portfolio manager of the John Hancock Technology Fund, with $1.3 billion under management. "If the market stays where it is, redemptions pick up and then there's no cash. There's a lack of liquidity." Year to date, the Dow Jones industrial average has fallen 8.4 percent and the Nasdaq composite index -- the barometer for IPOs because it is the exchange where most new companies list -- has tumbled 25.5 percent. For the Dow, it was the worst first quarter since an 8.9 percent drop in 1978. On the Nasdaq, the drop was the worst since the fourth quarter of 2000, when the composite fell 32.74 percent. WHY BUY AN IPO WHEN BIG NAMES ARE BARGAINS? Investors have turned to established technology companies, rather than riskier new public companies, while technology stocks remained deep in bear market territory and concerns about the slowing U.S. economy remained. "Why buy (an IPO) if you can buy a Cisco (NASDAQ:CSCO) or Oracle (NASDAQ:ORCL) at $15?" Loewenstein asked. "I'm not saying these are the bottoms, but these are good prices to get involved with high-quality companies." When chief underwriter Morgan Stanley Dean Witter & Co. (NYSE:MWD) took Agere (NYSE:AGRa) to Wall Street this week with a debut price of $6 a share for 600 million shares, it raised less than half of what it originally expected. And this was after three price reductions and one delay. What was touted as potentially the second-largest U.S. IPO ever, after last year's $10.6 billion spinoff of AT&T Wireless (NYSE:AWE), wound up in fifth place. Morgan Stanley -- the top underwriter of U.S. equity sales in the first quarter -- also co-managed Loudcloud Inc.'s (NASDAQ:LDCL) IPO earlier in March, with Goldman Sachs Group Inc. (NYSE:GS) The stock began trading at a reduced offering price of $6, but barely managed a rise in its debut. On Friday, the shares of the infrastructure services company closed at $5-23/32. "This is the first time that they have had IPOs at $6 -- such a low price -- since 1987," said Thomson Financial Securities Data analyst Richard Peterson. "It's rock-bottom prices.">> _____________________________________ V: BTW, I don't know what IHUB is either....Hope you're enjoying the weekend...=) Best Regards, Scott

To: Voltaire who wrote (35073)	4/1/2001 12:20:46 AM
From: Boplicity	Read Replies (1) \| Respond to of 65232

re: ADD I nearly choked on that. LOL. god that was funny really funny, I'm still laughing. Thanks, Bebob

To: Voltaire who wrote (35073)	4/1/2001 12:28:29 AM
From: Justin C	Respond to of 65232

LOL -- Funny post. IHUB, YouHUB, WeHUB? Dunno. And thanks for the report on your long experience with chiropractic therapy -- very interesting. Will be curious to hear about the minerals -- is your chiropractor involved in prescribing them?