Top Takes From RealMoney

5. IPO Watch

David Peltier
4/2/2009 8:16 AM EDT

The upbeat look in the index futures and overseas markets bode well for Changyou.com(CYOU Quote), which is set to IPO today.

The company is an online gaming operator and is majority owned by the Chinese Internet portal Sohu.com(SOHU Quote).

Changyou is the first Chinese company to have an IPO in the U.S. since last summer, and it marks just the second IPO of any origin in the market this year.

The company priced 7.5 million ADSes overnight at $16, which was at the high end of the range. Half of the shares were offered by Sohu.

According to the research I've seen, the deal was highly subscribed and moved along faster than previously expected.

Not only will China investors be watching the early trading of Changyou closely, but a successful IPO could bode well for the continuing improvement in overall market sentiment.

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