CARLSBAD, CALIF. — Stocks rallied sharply Wednesday, resuming the climb off the March lows, a move Paul Kedrosky attributes to the “‘the world hasn’t ended’ trade plus inventory restocking.”Citing the ongoing skepticism in the rally’s st
CARLSBAD, CALIF. – Steve Jobs sounds “energetic, healthy, not gravely ill or someone anxious or [overly] concerned about his health,” Steve Wozniak says of his fellow Apple co-founder.But Wozniak has been “saying the same thing for six mon
CARLSBAD, CALIF. – Microsoft’s new search engine Bing was unveiled Thursday and can already boast about a rousing endorsement from an unexpected source: Apple co-founder Steve Wozniak. “That was the most astounding software demo I’ve every seen,"
From The Business Insider, May 28, 2009:
The housing market is crashing, and it’s taking us, our banks, our economy, and our government down with it. …
CARLSBAD, CALIF. — After a Russian Internet-investment group, Digital Sky Technologies, invested $200 million in social networking giant Facebook earlier this week, the company’s implied valuation jumped to $10 billion.”It’s very significant,”
CARLSBAD, CALIF. — “This recession is different” because of the deleveraging of the private sector, Microsoft CEO Steve Ballmer said at the AllThings D conference Thursday. “It’s naive” to think the economy will recover in a year.As a
From The Business Insider, May 28, 2009: Yes, okay, the worst may be over, says Harvard professor Martin Feldstein. But don’t go hallucinating that this means it’s going to be all champagne
From The Business Insider, May 28, 2009 Fund manager John Hussman is too smart to ever actually predict
anything, but he also always gives you a good sense of where he stands.
And where does h
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CARLSBAD, CALIF. — The AllThingsD conference rolls on Thursday with scheduled appearances from Microsoft’s Steve Ballmer, NBC’s Jeff Zucker, Palm’s Jon Rubenstein, and Mozilla’s leadership team, among others.We’ll have more on those presentations l
According to the Russell Global Index, the United States’ market share for IPOs is plummeting. In a news release today Russell said that the U.S.’s share of IPOs in its index had declined to 13.7 percent for the past nine months, from 39.9 percent in 1998.
But don’t write off the U.S. IPO market yet. The Russell figures look at number of deals, not the dollar volume for the offerings.
So far in 2009, the U.S. is showing its old form again: according to Thomson Reuters data, U.S. IPOs account for 30.6 percent of overall global IPO dollar volume so far in 2009, with $1.6 billion, led by deals, large- by pediatrics nutrition maker Mead Johnson ($828 million) and small OpenTable ($60 million.) But measured in terms of deals, the US’s 7 deals make up only 6.8 percent of the 102 deals worldwide this year so far.
Banks fell over one another in May trying to raise money to obey Uncle Sam’s capital requirements and plug holes in their finances, leading to the largest month for share issuance ever in the United States, according to Thomson Reuters.
Fueled by enormous shares offerings such as Wells Fargo’s $8.6 billion follow-on the day after the government released its stressed tests, total equity capital issuance in the United States came to $48.8 billion in May. Year to date, the volume of secondary share issues is 40 percent ahead of where it was at this time last year.
For all the talk of a renascent IPO market , May’s three deals (DigitalGlobe, SolarWinds and OpenTable) only totaled a modest combined $490 million, leaving IPO volume in dollar terms down 94 percent from last year.
Here are the largest follow-ons in May in the United States:
Issue Date Proceeds ($bln) Issuer
05/08/09 $8.6 Wells Fargo
05/08/09 $4.7 Morgan Stanley
05/11/09 $2.8 US Bancorp
05/18/09 $2.3 State Street Corp
05/06/09 $2.3 Dow Chemical Co
(PHOTO: REUTERS/Brendan McDermid– New York Stock Exchange, May 26, 2009)