Mead Johnson NutritionMead Johnson Nutrition's ( MJN) IPO was an anomaly, Walker says. As the first deal of 2009, investors were eager to grasp on to any good news coming out of the market. "For this reason its weight is disproportionate to the rest of the group," Walker says. "It is similar to when Visa ( V)came to market in 2008. Mead is a well-known name that already has market penetration." A subsidiary of Bristol-Myers Squibb ( BMY), Mead Johnson Nutrition makes formula for infants, most notably under the name Enfamil, as well as nutrition products for children. On February 11, the company offered 30 million shares at $24 apiece, to raise $720 million. Bristol-Myers said it spun off Mead to help accelerate its growth. In the third quarter, earnings slid 5% to $97.6 million, due to weak sales in North America and Europe. As a result of the Mead's IPO, it now has more stock available, and its per-share profit tumbled 21% to 48 cents from 61 cents. Excluding one-time costs and benefits, the company said it earned 53 cents a share. Revenue fell 6% to $699.8 million from $742.8 million. Since its IPO, Mead's stock has soared 87.5% to close at $44.99 on Jan. 4. In the fall it announced that it will begin making powder infant formula, which should be available next year. Last month, Bristol-Myers split off its holdings in the company. The stock swap allowed Bristol-Myers shareholders to exchange some, all or none of their shares for Mead stock tax-free and at a discount. For each $1 of Bristol-Myers stock swapped, shareholders received about $1.11 worth of Mead shares.