Among the more interesting IPOs this week:
a) Barracuda Networks (CUDA), which provides internet security and storage solutions, is set to price 4.1 million shares at $18-$21 tonight for trading tomorrow;
b) Wix.com (WIX), an Israeli-based web developer platform, is set to price 7.7 million shares at $14.50-$16.50 tonight for trading tomorrow;
3) Mavenir Systems (MVNR) which provides enhanced services for mobile communications, set to price 4.8 million shares at $15-$17 tonight for trading tomorrow;
4) two biotech firms are in the mix: GlycoMemetics (GLYC) which is in a collaboration with Pfizer to treat diseases in which carbohydrates play a part, set to price 4 million shares at $14-$16 Thursday night for trading Friday; and Karyoypharm Therapeutics (KPTI), an oncology firm set to price 5.7 million shares at $14-$16 on Wednesday night for trading Thursday.
5) If you are into yield plays, Arc Logistics (ARCX), which owns and operates crude oil terminals, will price 6 million shares at $19-$21, pricing tonight for tomorrow. The yield: 7.75 percent
Is this a market top for IPOs? I noted yesterday that the Renaissance Capital IPO ETF (IPO), which started trading in mid-October at $20.05, is basically flat at $20.16 after a few weeks of trading. The IPO mutual fund they run, the IPO Plus Aftermarket Fund (IPOSX), has had a boffo year, up about 50 percent, but it topped out in September.
One worry: bonds yields are starting to break out again. A move from 2.48 percent two weeks ago to 2.63 percent today is not panic territory, but it's getting noticed.