This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

IPO Watch: Deals Disappoint

NEW YORK ( TheStreet) -- Is the interest in initial public offerings cooling off? If the last two weeks are any indication, it seems like it.

Kraton Performance Polymers (KRA - Get Report) became the second deal this week to receive a lukewarm greeting. The polymers maker offered 10.3 million shares for $13.50, significantly below its expected range of $16 to $18 each. Shares of the company fell to $13.21 earlier in the day, but are currently exchanging hands at $13.51.

Natural gas producer Crimson Exploration (CXPO) also sold 20 million shares for $5 each, slightly lower than the forecast of $6 to $8 each.

As a result, shares of the company have plunged 12.5% in afternoon trading to $4.55.

On Wednesday, Cobalt International Energy (CIE) tumbled more than 7% then closed flat on its first day of trading -- that was after pricing shares at $13.50 each, less than the $15 to $17 it had predicted.

Team Health is also expected to price shares below forecasts this week, and National Beef announced on Thursday that it is postponing its offering due to weakness in the IPO market.

The IPO market started dwindling last week, when only four out of the eight companies expected to price shares actually did.

And some of those that did price, like KAR (KAR - Get Report), came in below expectations.

-- Reported by Jeanine Poggi in New York.

>>See our new stock quote page.


Follow on Twitter and become a fan on Facebook.
Copyright 2009 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
CIE $3.11 0.00%
KAR $32.99 0.00%
KRA $14.85 0.00%
AAPL $94.02 0.00%
FB $104.07 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs