MarketWatch - Stock Market Quotes, Business News, Financial News
Bulletin
Investor Alert

New York Markets Open in:

Futures: /quotes/zigman/43106711/delayed S&P 500 +0.1% /quotes/zigman/48241424/delayed DOW +0.1% /quotes/zigman/43108768/delayed NASDAQ +0.3%

need to know
Moller-Maersk earnings hit by oil, freight falls
Hermès sales up 15% on Asian demand, euro
SoftBank profit falls sharply, misses views
Dollar hovers above 15-month low vs. yen

Disney's ESPN woes undercut 'Star Wars' gain
Apple CEO Cook’s deleted Super Bowl tweet
What to expect from Whole Foods earnings
Japan stocks fall to lowest level since 2014

Asahi bids more than $3.5 bln for Peroni, Grolsch
Heineken lifts dividend as profit rises
Carlsberg reports surprise net profit
Greene King sales rise, cheered by Christmas


Five questions that Janet Yellen must answer
Yellen may say goal is not to slow the economy
Fed: Too white, too male, too many bankers?
Expansion won’t die of old age: S.F. Fed study

IRS says identity thieves breached its systems
How to know if your tax preparer is a crook
Tax software firm warns of data breach
White House's lesson about online security

The sad truth of why retirement
is a myth

Why you should consider retiring abroad

Burberry sues, says J.C. Penney copied its designs

Is it wise to hold onto cash reserves?

Election year could be painful on Wall Street

S.F. real estate looks like it did before dot-com crash
Every major city in the world, in one map

Americans quitting their jobs hit a nine-year high
NFIB survey hints wage gains are fleeting
Job openings are second highest on record

Recipe for less boring Oscar speeches

What to know before buying Beyoncé tickets

How to get mortgage approved: hope for sunny day

99 Cent Gas May Be on Its Way
99-cents-a-gallon gas may be on its way: 24/7 Wall St.

Is the gold rally the real deal or ‘fool’s gold’?
Teen can keep $20,000 gold bar found in lake
Gold one of Wall Street’s best bets early in 2016
Gold futures stretch win streak to five sessions

Why is everyone freaking out about ‘CoCos’?
Convertible bonds are alluring as stocks fall

This stock market has been Europe’s best in 2016
Europe’s battles: migrants, ‘Brexit’ and ECB

Strategists are arguing that stocks need a true purge

A strand of Lennon’s hair is selling for $12,000

White House forecasts best growth in years
Obama proposes $4.1 trillion federal budget
/conga/frontpage.html 367537

Markets »

127.74MDow Volume:
Avg Vol: 130.29M
Unchanged
156
Decliners
4273
Advancers
2073
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,014 -13 0.08%
Nasdaq
/quotes/zigman/12633936/realtime 4,269 -15 0.35%
S&P 500
/quotes/zigman/3870025/realtime 1,852 -1 0.07%
GlobalDow
/quotes/zigman/629063/realtime 2,086 +1 0.06%
Gold
/quotes/zigman/33772884/delayed 1,189 -9 0.78%
Oil
/quotes/zigman/2260836/delayed 28.50 +0.56 2.00%
FTSE 100
/quotes/zigman/3173262/delayed 5,622 -11 0.19%
DAX
/quotes/zigman/2380246/delayed 8,910 +30 0.34%
CAC 40
/quotes/zigman/3173214/delayed 4,004 +7 0.17%
FTSE MIB
/quotes/zigman/1482176/delayed 16,074 +161 1.01%
IBEX 35
/quotes/zigman/2759620/delayed 7,977 +50 0.63%
Stoxx 600
/quotes/zigman/2380150/delayed 310 +1 0.26%
Asia Dow
/quotes/zigman/6959860/realtime 2,454 -17 0.69%
Nikkei 225
/quotes/zigman/5986735/delayed 15,713 -372 2.31%
Hang Seng
/quotes/zigman/2622475/delayed 19,288 +105 0.55%
Shanghai
/quotes/zigman/1859015/delayed 2,763 -18 0.63%
Sensex
/quotes/zigman/1652085/delayed 23,685 -336 1.40%
Singapore
/quotes/zigman/1709939/delayed 2,575 -48 1.85%
Euro
/quotes/zigman/16008136/realtime/sampled 1.13 0.00 0.27%
Yen
/quotes/zigman/16008150/realtime/sampled 114.70 -0.42 0.37%
Pound
/quotes/zigman/16008140/realtime/sampled 1.45 +0.00 0.09%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.71 +0.00 0.27%
DXY Index
/quotes/zigman/1652083/delayed 96.04 -0.02 0.02%
WSJ $ Idx
/quotes/zigman/41508961/realtime 89.21 -0.07 0.08%
U.S. 10yr
/quotes/zigman/15866666/realtime 1.74 +0.01 0.78%
German 10y
/quotes/zigman/15866409/realtime 0.25 +0.01 4.45%
Italy 10yr
/quotes/zigman/15866497/realtime 1.64 -0.05 2.86%
Spain 10yr
/quotes/zigman/15866444/realtime 1.68 -0.10 5.83%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.43 +0.02 1.34%
Japan 10yr
/quotes/zigman/15866525/realtime 0.01 +0.03 136.56%
Crude Oil
/quotes/zigman/2260836/delayed 29 +1 2.00%
Gold
/quotes/zigman/33772884/delayed 1,189 -9 0.78%
Corn
/quotes/zigman/25518691/delayed 360 -1 0.28%
DJIA F
/quotes/zigman/48241424/delayed 15,967 +8 0.05%
S&P F
/quotes/zigman/43106711/delayed 1,851 +2 0.12%
Silver
/quotes/zigman/32655632/delayed 15 0 1.48%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 99.54 -0.21 -0.21%
AAPL /quotes/zigman/68270/composite 94.99 -0.02 -0.02%
GOOG /quotes/zigman/59527964/composite 678.11 -4.63 -0.68%
BAC /quotes/zigman/190927/composite 12.20 -0.07 -0.57%
C /quotes/zigman/5065548/composite 37.51 -0.30 -0.79%
F /quotes/zigman/264304/composite 11.35 -0.24 -2.07%
T /quotes/zigman/398198/composite 36.65 -0.46 -1.24%
BP /quotes/zigman/247026/composite 28.95 -0.97 -3.24%
GE /quotes/zigman/227468/composite 28.28 0.11 0.39%
Visit the quote page and your most recently viewed stocks will automatically be displayed here.
Please log in to view your watchlist
MarketWatch Portfolio

World News from MarketWatch

Rates »

5 yr CD
1.3%
2 yr CD
0.7%
1 yr CD
0.5%
MMA $10K+
0.2%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.96% 11.96% 11.62%
Business 13.12% 13.12% 12.85%
Student 13.42% 13.42% 13.14%
Balance Transfer 14.35% 14.35% 14.12%
Airline 15.17% 15.17% 15.10%
Cash Back 15.26% 15.26% 15.27%
Reward 15.28% 15.28% 15.14%
Instant Approval 18.21% 18.21% 18.00%
Bad Credit 22.88% 22.88% 22.73%
Source:CreditCards.com

Top 3 from Barron's

Today's list of the most-viewed stories from Barron's. More »

  1. 1.
  2. 2.
  3. 3.

Visit Barrons.com

SPONSORED SECTIONS

Trending Tickers
  • /quotes/zigman/245568/composite DIS+0.22%
  • /quotes/zigman/13139813/composite SCTY-5.69%
  • /quotes/zigman/93928/composite PSEC-7.39%
  • /quotes/zigman/65095/composite PNRA-1.04%
  • /quotes/zigman/207002/composite DB-1.03%
X
Powered by StockTwits
Link to MarketWatch's Slice.

As of July 2, 2013, the SmartMoney content you loved now lives on MarketWatch.

MarketWatch will continue to provide the same important news and information you rely on every day. And, as a MarketWatch user, you will be able to enjoy:

  • Personalized news and quote email alerts
  • Editorial e-newsletters about personal finance, mutual funds and market-specific coverage
  • Premium newsletters by our market experts
  • Games, such as Virtual Stock Exchange and Beat the Darts
  • Free WSJ.com registration

SmartMoney Blogs

Real-Time Advice
Our real-time advice on how market shifts and news impact you and your money

IPO Returns Look Lousy — Again

Regulators are reconsidering “quiet period” rules that prevent companies from acting like pitchmen ahead of initial public offerings of stock, but that can also restrict the release of new information that would warn investors away from shares.

Recent performance, meanwhile, offers a not-so-quiet reminder of why investors should approach IPOs cautiously.

Among 70 deals in the first half of 2012 tracked by Hoover’s, a data firm, the average is up 14.7% from its offering price. At a glance, that seems like rip-roaring growth compared with Standard & Poor’s 500-stock index, which is up 11.3% year-to-date.

But those numbers include hot IPOs whose shares were issued to a privileged few before opening for trading well above their offering price. A better measure of how the public has fared in these deals is how share prices have done since opening for trading.

The average of the 70 IPOs opened 12.6% above its offering price, and has since gained little more than 2%. Investors would have done much better by holding a simple, low-fee mutual fund that tracks the broad stock market.

Two quarters of deals don’t make for a pattern, of course. For that, look at the Bloomberg Initial Public Offering Index, which tracks how stocks do during the year following their debut. It has lost more than 20% over the past five years, versus a 5% decline for the S&P 500.

Better yet, look at long-term studies. Among 9,000 stocks that went public between 1968 and 2001, the average one underperformed the small-company stock market by more than two percentage points a year through 2003, according to a study by Wharton professor Jeremy Siegel. Other studies have documented a decline in operating performance following IPOs.

This makes sense. No investor would sell an asset today if he expected it to become sharply more valuable tomorrow. IPOs represent highly informed investors deciding the time is right to sell part of their stakes. When ordinary investors buy shares of a new offering, they’re betting they know better than the insiders. History suggests they don’t, on average.

A tweak to the quiet-period rules may give ordinary investors more information to go on. But what investors really need is a self-imposed hands-off period, to leave new issues alone for a year or two while the initial buzz dies down.

Comments

We welcome thoughtful comments from readers. Please comply with our guidelines. Our blogs do not require the use of your real name.

Comments (3 of 3)

View all Comments »
    • By WebOsPublisher

      free download an Easy Icon Maker software for making icons.
      Easy Icon Maker Software , icon creator , icon changer , icon extractor
      Icon
      Maker
      ICON
      Maker – download a free trial version and start to make your own
      icons right now!!
      Home
      Download
      Buy
      Contact
      Links
      What’s New
      Frequently Questions
      Easy Icon Maker
      Click to Enlarge
      Easy Icon Maker is a small and easy-to-use all-in-one
      icon utility for icon making, editing, changing, extracting, searching, and exploring.
      It allows you editing a transparent or opaque icon.
      The sizes may be 16 X 16, 32 X 32, 48 X 48, 64 X 64
      or custom it as you like. The colors may be Monochrome(1
      bit), 16 colors(4 bits), 256 colors(8 bits), true
      colors(24 bits), or true colors + alpha channel(32 bits).
      With Easy Icon Maker, you may edit your own professional
      icons easily and quickly with the built-in editor. You
      may also extract an icon from an EXE or DLL file. You
      may import graphic file such as BMP, JPG or GIF and
      save it into icon file or export icon file to graphic
      file.
      A capture button allows you capturing any area on the
      screen to the editor for editing. Filters functions
      allow you processing the icon with special effects such
      as lighten, soften, darken, lighten, blur, emboss, and more.
      This version includes four enhanced icon tools, they are
      Icon Changer ,
      Icon Searcher ,
      Icon Extractor ,
      and Icon Explorer .
      Buy
      Now (ONLY US$29.95)
      Free Download
      (Size: 1.56 MB)
      New Features added in version 5.0
      Fixed an important bug of 32-bit Alpha Channel.
      Improved interfaces.
      New Features added in version 4.0
      True colors (32-bit) with Alpha channels added.
      Edit in RGB and Alpha mode.
      Change the order of an icon format in the file.
      Added toolbar for filters for easy work.
      Added features “Rotate”, “Flip”, and “Move”
      Open several instances of Easy Icon Maker at the same time, and copy data from one to another.
      Icon Explorer was added for exploring icons from files and applications.
      Download Easy Icon Maker 5.0(File Size: 1,602 KB)
      Key
      Features include:
      Support sizes 16 X 16, 32 X 32, 48 X 48, 64 X 64, and
      user custom
      Support Monochrome (1 bit), 16 colors (4 bits), 256
      colors (8 .bits), true color (24 bits), and true colors + alpha channel (32 bits)
      Support capturing an icon area from screen
      Fast, small and easy-to-use
      Windows XP Compatible
      Extract icon from DLL/EXE files
      Icon Searcher Tool – Search Icons from your computer files
      Icon Changer Tool – change binary file’s icons (EXE, OCX, DLL, SCR, …)
      Import from or Export to graphic files BMP, JPG, GIF
      Buy
      Graphic Converter + Easy Icon Maker Now for ONLY $39.95
      Graphic Converter
      Click to Enlarge
      Graphic Converter
      is software for converting graphic formats.
      It supports reading graphics of BMP, DIB, JPG, JPEG,
      GIF, ICO, ICB, PCX, PCD, PSP, PBM, PGM, PSD, PPM, PSG,
      PNG, VST, VDA, EMF, WMF, TIF, TIFF, WBMP, RLE, SGI,
      and more.
      It supports saving graphics to DIB, BMP, GIF, JPG, JPEG,
      ICO, TIF, TIFF, WBMP, WMF, EMF, PNG, TGA, and more.
      It supports screen capturing with different ways. It
      supports more than 50 different filters. It supports
      unlimited UNDO and REDO operations. More
      Details …Date: June 22, 2003 Download it here! (size: 2.1 MB)
      Buy
      Now (ONLY US$19.95)
      Free
      Download
      Key
      Features include:
      * Open and view more than 30 images formats
      * Save and write more than 10 mages formats
      * Stretch image to ICON size and save as ICON file
      * Support editing image with selection, resize, rotate,
      add canvas, and more
      * Support more than 50 filters like
      * Unlimited UNDO and REDO operations
      * Full options of capturing, images formats, and other
      Copyright
      © 2002-2012 icon-maker.com . All Rights Reserved.

About Real-Time Advice

  • How breaking news — in the markets, Washington, and around the world — affects you and your money. Have a question about how current events may change your financial future? Email us at ask@smartmoney.com.

MarketWatch - Stock Market Quotes, Business News, Financial News
Bulletin
Investor Alert

New York Markets Open in:

Futures: /quotes/zigman/43106711/delayed S&P 500 +0.1% /quotes/zigman/48241424/delayed DOW +0.1% /quotes/zigman/43108768/delayed NASDAQ +0.3%

need to know
Moller-Maersk earnings hit by oil, freight falls
Hermès sales up 15% on Asian demand, euro
SoftBank profit falls sharply, misses views
Dollar hovers above 15-month low vs. yen

Disney's ESPN woes undercut 'Star Wars' gain
Apple CEO Cook’s deleted Super Bowl tweet
What to expect from Whole Foods earnings
Japan stocks fall to lowest level since 2014

Asahi bids more than $3.5 bln for Peroni, Grolsch
Heineken lifts dividend as profit rises
Carlsberg reports surprise net profit
Greene King sales rise, cheered by Christmas


Five questions that Janet Yellen must answer
Yellen may say goal is not to slow the economy
Fed: Too white, too male, too many bankers?
Expansion won’t die of old age: S.F. Fed study

IRS says identity thieves breached its systems
How to know if your tax preparer is a crook
Tax software firm warns of data breach
White House's lesson about online security

The sad truth of why retirement
is a myth

Why you should consider retiring abroad

Burberry sues, says J.C. Penney copied its designs

Is it wise to hold onto cash reserves?

Election year could be painful on Wall Street

S.F. real estate looks like it did before dot-com crash
Every major city in the world, in one map

Americans quitting their jobs hit a nine-year high
NFIB survey hints wage gains are fleeting
Job openings are second highest on record

Recipe for less boring Oscar speeches

What to know before buying Beyoncé tickets

How to get mortgage approved: hope for sunny day

99 Cent Gas May Be on Its Way
99-cents-a-gallon gas may be on its way: 24/7 Wall St.

Is the gold rally the real deal or ‘fool’s gold’?
Teen can keep $20,000 gold bar found in lake
Gold one of Wall Street’s best bets early in 2016
Gold futures stretch win streak to five sessions

Why is everyone freaking out about ‘CoCos’?
Convertible bonds are alluring as stocks fall

This stock market has been Europe’s best in 2016
Europe’s battles: migrants, ‘Brexit’ and ECB

Strategists are arguing that stocks need a true purge

A strand of Lennon’s hair is selling for $12,000

White House forecasts best growth in years
Obama proposes $4.1 trillion federal budget
/conga/frontpage.html 367537

Markets »

127.74MDow Volume:
Avg Vol: 130.29M
Unchanged
156
Decliners
4273
Advancers
2073
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,014 -13 0.08%
Nasdaq
/quotes/zigman/12633936/realtime 4,269 -15 0.35%
S&P 500
/quotes/zigman/3870025/realtime 1,852 -1 0.07%
GlobalDow
/quotes/zigman/629063/realtime 2,086 +1 0.07%
Gold
/quotes/zigman/33772884/delayed 1,189 -9 0.78%
Oil
/quotes/zigman/2260836/delayed 28.52 +0.58 2.08%
FTSE 100
/quotes/zigman/3173262/delayed 5,621 -12 0.21%
DAX
/quotes/zigman/2380246/delayed 8,910 +30 0.34%
CAC 40
/quotes/zigman/3173214/delayed 4,003 +6 0.14%
FTSE MIB
/quotes/zigman/1482176/delayed 16,072 +159 1.00%
IBEX 35
/quotes/zigman/2759620/delayed 7,974 +46 0.58%
Stoxx 600
/quotes/zigman/2380150/delayed 310 +1 0.25%
Asia Dow
/quotes/zigman/6959860/realtime 2,454 -17 0.69%
Nikkei 225
/quotes/zigman/5986735/delayed 15,713 -372 2.31%
Hang Seng
/quotes/zigman/2622475/delayed 19,288 +105 0.55%
Shanghai
/quotes/zigman/1859015/delayed 2,763 -18 0.63%
Sensex
/quotes/zigman/1652085/delayed 23,691 -330 1.38%
Singapore
/quotes/zigman/1709939/delayed 2,575 -48 1.84%
Euro
/quotes/zigman/16008136/realtime/sampled 1.13 0.00 0.28%
Yen
/quotes/zigman/16008150/realtime/sampled 114.71 -0.41 0.36%
Pound
/quotes/zigman/16008140/realtime/sampled 1.45 +0.00 0.10%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.71 +0.00 0.23%
DXY Index
/quotes/zigman/1652083/delayed 96.04 -0.01 0.01%
WSJ $ Idx
/quotes/zigman/41508961/realtime 89.20 -0.08 0.09%
U.S. 10yr
/quotes/zigman/15866666/realtime 1.74 +0.01 0.74%
German 10y
/quotes/zigman/15866409/realtime 0.25 +0.01 4.15%
Italy 10yr
/quotes/zigman/15866497/realtime 1.64 -0.05 2.90%
Spain 10yr
/quotes/zigman/15866444/realtime 1.68 -0.10 5.87%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.43 +0.02 1.26%
Japan 10yr
/quotes/zigman/15866525/realtime 0.01 +0.03 148.02%
Crude Oil
/quotes/zigman/2260836/delayed 29 +1 2.08%
Gold
/quotes/zigman/33772884/delayed 1,189 -9 0.78%
Corn
/quotes/zigman/25518691/delayed 360 -1 0.28%
DJIA F
/quotes/zigman/48241424/delayed 15,966 +7 0.04%
S&P F
/quotes/zigman/43106711/delayed 1,851 +3 0.14%
Silver
/quotes/zigman/32655632/delayed 15 0 1.48%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 99.54 -0.21 -0.21%
AAPL /quotes/zigman/68270/composite 94.99 -0.02 -0.02%
GOOG /quotes/zigman/59527964/composite 678.11 -4.63 -0.68%
BAC /quotes/zigman/190927/composite 12.20 -0.07 -0.57%
C /quotes/zigman/5065548/composite 37.51 -0.30 -0.79%
F /quotes/zigman/264304/composite 11.35 -0.24 -2.07%
T /quotes/zigman/398198/composite 36.65 -0.46 -1.24%
BP /quotes/zigman/247026/composite 28.95 -0.97 -3.24%
GE /quotes/zigman/227468/composite 28.28 0.11 0.39%
Visit the quote page and your most recently viewed stocks will automatically be displayed here.
Please log in to view your watchlist
MarketWatch Portfolio

World News from MarketWatch

Rates »

5 yr CD
1.3%
2 yr CD
0.7%
1 yr CD
0.5%
MMA $10K+
0.2%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.96% 11.96% 11.62%
Business 13.12% 13.12% 12.85%
Student 13.42% 13.42% 13.14%
Balance Transfer 14.35% 14.35% 14.12%
Airline 15.17% 15.17% 15.10%
Cash Back 15.26% 15.26% 15.27%
Reward 15.28% 15.28% 15.14%
Instant Approval 18.21% 18.21% 18.00%
Bad Credit 22.88% 22.88% 22.73%
Source:CreditCards.com

Top 3 from Barron's

Today's list of the most-viewed stories from Barron's. More »

  1. 1.
  2. 2.
  3. 3.

Visit Barrons.com

SPONSORED SECTIONS

Trending Tickers
  • /quotes/zigman/245568/composite DIS+0.22%
  • /quotes/zigman/13139813/composite SCTY-5.69%
  • /quotes/zigman/93928/composite PSEC-7.39%
  • /quotes/zigman/65095/composite PNRA-1.04%
  • /quotes/zigman/207002/composite DB-1.03%
X
Powered by StockTwits
Link to MarketWatch's Slice.

As of July 2, 2013, the SmartMoney content you loved now lives on MarketWatch.

MarketWatch will continue to provide the same important news and information you rely on every day. And, as a MarketWatch user, you will be able to enjoy:

  • Personalized news and quote email alerts
  • Editorial e-newsletters about personal finance, mutual funds and market-specific coverage
  • Premium newsletters by our market experts
  • Games, such as Virtual Stock Exchange and Beat the Darts
  • Free WSJ.com registration