Sunday, August 5, 2012

Wall Street Wary of This Week's IPOs in Shadow of Facebook Disappointment

Posted By on Sun, Aug 5, 2012 at 1:00 PM

In the shadow of Facebook's initial public offering in May, which by most accounts was poorly executed, investors will be keeping a close eye this coming week on a handful of companies, each triggering their own IPO a week before many Wall Street analysts take a break until after the Labor Day holiday.

According to the Associated Press, six IPOs to watch include British soccer club Manchester United, Bloomin Brands (which operates Outback Steakhouses), and CKE (which runs Carl's Jr and the Hardee's fast-food chains). Other companies going public this coming week are biotech firm Stemline Therapeutics, Peregrine Semiconductor, a technology firm that specializes in wireless, and Performant Financial, operator of a nationwide collection service on unpaid loans.

"A lot of investors believed the hype," said Bahl and Gaynor's Matt McCormick in reflecting on the Facebook debacle. "In this type of volatile market environment, people are not going to take chances."

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