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Aug 10, 2011

One U.S. IPO prices, three others postponed

NEW YORK (Reuters) – Carbonite, which sells Web-based computer backup products, priced shares in its initial public offering at the bottom of a lowered range on Wednesday, the first company to complete an IPO in what has turned into a dramatic market rout.

Carbonite and its owners raised $62.5 million by selling 6.25 million shares at $10 each, according to an underwriter. The company earlier on Wednesday lowered its expected price range to $10 to $11 per share from $15 to $17 per share.

Aug 9, 2011

Several U.S. IPOs postponed amid volatile markets

NEW YORK, Aug 9 (Reuters) – Three initial public offerings
were postponed on Tuesday, the latest casualties of volatile
market conditions.

Offerings by Portuguese mobile marketing and payment
services provider TIM w.e. SGPS SA, which was expected to raise
about $146 million, and 3-D motion-sensing company InvenSense
Inc, due to raise about $100 million, were postponed,
underwriters said. The $180 million IPO of Seattle-based lender
HomeStreet was also sidelined, an underwriter said.

Aug 8, 2011

IPO View: Market rout exposes high-flying dotcom deals

NEW YORK (Reuters) – The latest market rout might serve as a warning to investors who have euphorically poured money into high-flying technology stocks.

Pandora Media Inc (P.N: Quote, Profile, Research, Stock Buzz) and Renren Inc (RENN.N: Quote, Profile, Research, Stock Buzz) are both trading below their IPO price. LinkedIn shares fell as much as 10 percent after Evercore Partners and Morgan Stanley downgraded their ratings and Yandex NV (YNDX.O: Quote, Profile, Research, Stock Buzz), while up from its IPO price, has been a roller coaster.

Aug 5, 2011

Market rout exposes high-flying dotcom deals

5 (Reuters) – The latest market rout might
serve as a warning to investors who have euphorically poured
money into high-flying technology stocks.

Pandora Media Inc (P.N: Quote, Profile, Research, Stock Buzz) and Renren Inc (RENN.N: Quote, Profile, Research, Stock Buzz) are both
trading below their IPO price. LinkedIn shares fell as much as
10 percent after Evercore Partners and Morgan Stanley
downgraded their ratings and Yandex NV (YNDX.O: Quote, Profile, Research, Stock Buzz), while up from
its IPO price, has been a roller coaster.

Aug 3, 2011

American Capital Mortgage slashes IPO size

NEW YORK, Aug 3 (Reuters) – American Capital Mortgage
Investment Corp (MTGE.O: Quote, Profile, Research, Stock Buzz) raised less than half of what it had
planned in its initial public offering after weak demand forced
the company and its underwriters to slash the deal’s size.

The company, which plans to make leveraged investments in
mortgage and mortgage-related assets, sold 8 million shares for
$20 each, raising $160 million. It had planned to sell 17.5
million shares for $20 each.

Aug 1, 2011

Auto industry could lead U.S. economic recovery: survey

DETROIT (Reuters) – The auto industry could lead an economic recovery in the United States, according to a recent survey by audit, tax and advisory firm KPMG.

Auto executives plan to do more hiring and more capital spending than executives in any other sector in the next year, according to the survey.

Jul 29, 2011

American Axle profit beats Street, raises outlook

DETROIT (Reuters) – American Axle and Manufacturing Holdings Inc (AXL.N: Quote, Profile, Research, Stock Buzz) posted higher-than-expected quarterly earnings and raised its full-year forecast due to increased demand from its automaker customers, sending its shares up more than 10 percent.

The company, the latest auto parts maker to beat Wall Street forecasts, said it was benefiting from increased production by automakers and improvements in capacity utilization and fixed costs.

Jul 28, 2011

U.S. July auto sales to start recovery

DETROIT, July 28 (Reuters) – U.S. July auto sales should
show an improvement from the past two months as the industry
recovers from supply chain disruptions in Japan, but it could
be a long time before the industry is fully back on track.

A March earthquake, tsunami and nuclear crisis in Japan
disrupted the supply of key auto parts and forced automakers to
idle plants and cut output. That resulted in fewer incentives
and higher prices for consumers, who failed to buy as many cars
in May and June as economists predicted. [ID:nN1E75T1C7]

Jul 27, 2011

Visteon CEO hints at breakup but mum on details

DETROIT, July 27 (Reuters) – The chief executive officer of
auto parts supplier Visteon Corp (VC.N: Quote, Profile, Research, Stock Buzz) hinted at plans to
break up the company on Wednesday, but declined to give
details, saying disclosure would hurt any potential deal.

“As we look out over a three-year horizon … I would be
surprised if the product portfolio is the same as it is today,”
CEO Don Stebbins said during the question and answer period of
the company’s investor day.

Jul 22, 2011

U.S automakers wary as economy stuck in slow gear

DETROIT (Reuters) – Each month, a dozen executives of General Motors Co gather on the 39th floor of their Detroit headquarters to survey the auto industry, the U.S. economy and how they will meet demand from customers.

Recently, the view has not been impressive.

With the economy still struggling to regain momentum after the financial crisis of 2007-09 and 14 million Americans out of work, the planners at GM and a host of corporations across America are in no rush to make big new investments to ramp up output and hiring.

    • About Clare

      "I am based in New York and write about IPOs and wealth management. I was formerly based in San Francisco, where I wrote about tech companies."
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