IPO Report: Shutterfly, Aventine, Gmarket

Excerpt from today's Wall Street Journal annotated summary:

Shutterfly Files IPO Offering $92 Million In Photo Site's Stock

• Summary: Online photo site Shutterfly filed to sell up to $92 million of stock in an IPO, with the proposed ticker SFLY. The company has been profitable for three years, but faces increasing competition from new sites including Tabblo, Photobucket and Riya, and more established competitors including HP's Snapfish and Yahoo's Flickr. Underwriters are Goldman Sachs, JP Morgan, Piper Jaffray and Jeffries and Co.
• Comment on related stocks/ETFs: Business Week's Tim Mullaney evaluates the Shutterfly IPO.

IPOs: Aventine Falls 11% After Pricing High; Gmarket Drops 1%

• Summary: Ethanol company Aventine Renewable Energy Holdings Inc. (AVR) priced its IPO at the top of the range at $43 and raided the deal size from 7.75 million shares to 8.06 million, but then closed down 11% in trading yesterday. Korean e-commerce company Gmarket (GMKT) closed down 1% to $15.10 after selling 9.1 million ADRs. The poor performance of both stocks was particularly striking given the broad strength in yesterday's market.
• Comment on related stocks/ETFs: Analysis of Aventine here and Gmarket here.