On Tap Today: Net IPO Lockups Expire; Income, Chicago PMI Reports Coming
Internet Initiative Japan (IIJI) , Internet Capital Group (ICGE) , Internet Gold (IGLD) - Get FT Cboe Vest Gold Strategy Target Income ETF Report -- there's a whole lotta Internet coming out of IPO lockup periods today. Check below for the whole list.
Janus Strategic Value
, a foray into value investing from the $240 billion growth fund titan, starts a one-month subscription period today. Today through Feb. 29 investors can reserve pre-launch shares at $10 a pop only through Janus and leading online broker
Charles Schwab
(SCH)
.
On March 1 the fund will collect investors' pledged assets and launch. Schwab
denies any conflict of interest, but in subscription deals the online broker gets
paid and extra fee to promote a new fund over others. Also,
subscription fund launches might have more benefits for fund companies than investors.
Schwab typically runs three or four fund subscriptions annually, but is off to a fast start this year. Its subscription offering of
Baron iOpportunity
also ends Feb. 29.
On the economic-data front, at 8:30 a.m. EST it's time to check out December
personal income and consumption
figures. And at 10 a.m., find out what the purchasing managers with big shoulders have to say.
TheStreet Recommends
Expected Earnings Reports
(
This table includes S&P 500 companies only. Dates are as expected according to First Call/Thomson Financial, and may change. The full week's earnings calendar is published separately.
)
* Possibly reporting.
Economic Data
(
Forecasts are from
Reuters
Times are Eastern. For a longer-term economic calendar and more, see
TSC's
Economic Databank.
)
- 8:30 a.m.:Personal income for December. Source:
Commerce Department. Forecast: +0.5%. Previous: +0.4%.
8:30 a.m.:Consumption for December. Source:
Commerce Department. Forecast: +0.8%. Previous: +0.5%.
8:30 a.m.:APICS Business Outlook Index for January. Source:
APICS. Forecast: N/A. Previous: 51.2.
10 a.m.:Chicago Purchasing Managers' Index for January. Source:
National Association of Purchasing Management -- Chicago. Forecast: N/A. Previous: 54.6.
Conferences and Meetings
-
World Economic Forum Annual Meeting, Davos, Switzerland. Concludes tomorrow.
IPO Lockups Expiring
(TheStreet.com's
Ben Holmes, who heads
TSC's
ipoPros.com subsidiary, keeps a close eye on lockup expirations every week. For more on lockups and why they matter, check out Holmes' column on the subject.
)
Lockup End | Deal Name | Symbol | Lead Underwriter |
1/29/00 | BigStar Entertainment | (BGST:Nasdaq) | Prudential Securities |
1/30/00 | Fairchild Semiconductor | (FCS:NYSE) | Credit Suisse First Boston |
1/30/00 | Internet Initiative Japan | (IIJI:Nasdaq) | Goldman Sachs |
1/30/00 | Quotesmith.com | (QUOT:Nasdaq) | Hambrecht & Quist |
1/30/00 | Splitrock Services | (SPLT:Nasdaq) | Bear Stearns |
1/31/00 | Homestore.com | (HOMS:Nasdaq) | Morgan Stanley Dean Witter |
1/31/00 | Internet Capital Group | (ICGE:Nasdaq) | Merrill Lynch |
1/31/00 | Internet Gold | (IGLD:Nasdaq) | Lehman Brothers |
1/31/00 | Pivotal | (PVTL:Nasdaq) | Merrill Lynch |
