Posts filed under “IPOs”
My favorite chart on the website this week (so far) comes from Matthew Klein’s column: Is Yahoo’s Business Worth Less Than Nothing? And it’s filled with informative details.
Yahoo! Inc.’s total value is represented by the first bar. If you subtract the value of Alibaba Group Holding Ltd. and Yahoo! Japan Corp. you are left with Yahoo’s core business — excluding its Japanese and Chinese investments — and a negative valuation. continues here
Late last year, we had a wholesaler from a major ETF firm in our office. At the time, the chatter was all about the upcoming Alibaba IPO. It was going to be (in his words) “huge, disruptive, incredibly powerful – and you cannot get any.” Never mind that IPO returns are on average mediocre or…Read More
Source: MSN No, no, no, no, and one last no. Look, I get it, I really do: You are all excited — dare I say “atwitter”? — at the prospects of today’s big initial public offering. It is oversubscribed by 30X (or so we hear), priced at the high end of its range, and…Read More
Click to enlarge: Source: Bloomberg Fascinating comparison between Google and Microsoft gains since their IPOs from Dave Wilson. Earlier this month, Google managed to slip past Mister Softee in terms of market cap (MSFT is now $244.8B vs GOOG $243.56B). Microsoft Corp.’s stock-market performance during its first eight years as a public company far surpassed Google. MSFT…Read More
6 Buys, 3 Neutrals Average Price Target = $39 BofA/Merrill – Neutral – $38 PT Goldman Sachs – Buy – $42 PT Oppenheimer – Outperform – $41 PT JPMorgan – Overweight – $45 PT Piper Jaffray – Overweight – $41 PT Wells Fargo – Outperform – $37-$40 Range Credit Suisse – Neutral – $34 PT…Read More
The highly-anticipated Facebook IPO was plagued with problems, potentially costing thousands of dollars to many small investors and further damaging Wall Street’s reputation on Main Street. A Wall Street Journal report.
(I have a small cameo in this)
However big a clusterfuck you may have previously believed the Facebook IPO was, this WSJ article – Nasdaq CEO Lost Touch Amid Facebook Chaos — makes you realize it was actually worse, much worse. The Journal politely but devastatingly skewers Nasdaq for the bungled IPO trading. The words that come to mind is inexcusable and incompetent….Read More
John Hempton at Bronte Capital often makes for an interesting read. Today, however, I have to disagree with his take on the ethical obligations of investment bankers in the Facebook IPO. (Facebook and the sad case of ethical investment bankers). John writes: “In an IPO an investment bank takes a fee from a business to…Read More