SUMMARY:
Weak Asia and negative Europe-related news flow through Thursday did little to dampen the powerful momentum in U.S. equities towards November option expiration. While IPOX traded mixed to lower, global IPO activity continued to build momentum. Focus in on IPOs domiciled in the U.S.
HIGHLIGHTS:
· For U.S. stocks, its much ado about nothing again: Negative Europe-related news flow through Thursday, the S&P snafu over France's downgrade contributing to big intra-day swings and weak Asia did little to derail the powerful momentum in U.S. large-caps towards option expiration. With Apple (AAPL: -3.90%) under pressure, good earnings from the U.S. multinationals and big intra-day swings, U.S. Index spreads continued to move in favor of the S&P 500 (SPX) and Dow Jones (INDU) vs. the Nasdaq-100 (NDX) und Russell 2000 (RUT). The expectations of a strong U.S. holiday shopping season kicking off in two weeks, Wednesday's launch of the Kindle Fire and a reduced fear over European debt should provide ample momentum to take benchmarks S&P 500 (SPX) and the Nasdaq-100 (NDX) towards and above the recent resistance levels during option expiration week.
Ticker (BBG/Reuters) | Return Week | Return YTD | Name |
IPGLC (USD) | -1.44% | -12.57% | IPOX Global Comp |
IPGL100 (USD) | -1.11% | -6.69% | IPOX Global 100 |
IPGL50 (USD) | -1.68% | -6.78% | IPOX Global 50 |
IPGL30 (USD) | -0.60% | -5.14% | IPOX Global 30 |
IPXO (USD) | -0.49% | +2.33% | IPOX U.S. 100 |
IPXT (USD) | +0.29% | +2.74% | IPOX U.S. 30 |
IXTE (EUR) | -0.62% | -15.52% | IPOX Europe 30 |
IPTA (USD) | -4.41% | -2.91% | IPOX Asia-Pac. 30 |
IPXUEM (USD) | -1.15% | -20.25% | IPOX Emerging Mkts. |
IPXUBRIC (USD) | -2.57% | -25.99% | IPOX BRIC 25 |
IPXUCHCP (USD) | -4.82% | -21.99% | China IPOX Comp. |
CNI (USD) | -4.25% | -22.39% | China IPOX 20 |
IPXUCAUP (USD) | -2.53% | -14.77% | China IPOX Comp. |
IPXULATT (USD) | -0.60% | -16.46% | IPOX LatAm 20 |
IPXK30K (KRW) | -2.46% | +2.49% | IPOX Korea 30 |
Company | Ticker | Return / IPO |
iTEST Co Ltd | 089530 KS | 5.42% |
Lifetech Scientific Corp | 8122 HK | 0.00% |
NewLink Genetics Corp | NLNK US | 1.14% |
Atlas Resources Tbk PT | ARII IJ | -2.00% |
Avigilon Corp | AVO CN | 0.44% |
CQV Co Ltd | 101240 KS | -9.57% |
Imperva Inc | IMPV US | 46.67% |
Shin-heung Machine Co Ltd | 007820 KS | 87.06% |
Company | Code | Country | Lead Manager |
Bluestem Brands | BSTM US | U.S.A. | PJC, WFS |
Clovis Oncology | CLVS US | U.S.A. | CS, JPM |
InvenSense Inc | INVN US | U.S.A. | GS, MS |
Angie's List Inc | ANGI US | U.S.A. | BOFAML |
Delphi Auto | DLPH US | U.S.A. | GS, JPM |
Digital Domain | DDMG US | U.S.A. | Roth Capital |
Intermolecular | IMI US | U.S.A. | BCLY, JPM |
Mattress Firm | MFRM US | U.S.A. | BCLY, UBS |
Manning& Napier | MN US | U.S.A. | BOFAML |
Renheng | 8012 HK | Hong Kong | Shenyin |
Semisysco Co | 136510 KS | Korea | HI Inv. |