December IPO Blizzard Nearing End

"The key is the last quarter," he said. "It's a 'What have you done for me lately?' feel. If they haven't made a profit, then they're lucky to do an IPO."

Eleven companies have filled IPO requests in December, including customer relationship management service provider Salesforce.com and ProCentury Corporation, a specialty lines insurer, on Thursday.

Houston-based savings and loan company Franklin Bank(FBTX Quote) debuted on Thursday, and shares rose more than 20% from the $14.50 offer price. Lately, shares were down 21 cents, or 1.2%, at $17.59.

Also on Thursday were Knology(KNOL Quote), Tempur-Pedic International(TPX Quote) and Marshall Edwards(MSHL Quote).

Knology priced at $9, far below its expected range of $12 to $14; shares were down 23 cents, or 2.5%, at $9.15 lately.

Tempur-Pedic also priced below its expectation of $15 to $17, at $14; shares were up 8 cents, or 0.5%, at $15.58 in Friday trading. Marshall Edwards priced about 2 million shares at $7.50 each; shares were climbing $1, or 13%, at $8.50.

Acorda Therapeutics was expected to debut on Thursday but was postponed because of current market conditions. It plans to offer 4.8 million shares at $12 to $14.

Meanwhile, Orbitz(ORBZ Quote) and China Life(LFC Quote), the biggest IPO of the year, debuted on Wednesday. Orbitz shares dropped about 5.2% on their first day of trading after starting with a per-share price of $26. China Life shares started at $18.68 and jumped 27% on their opening day.