Six initial public offerings (IPOs) priced, the largest being Synchrony, the former arm of GE Capital. The company priced 125 million shares at $23, and are the largest private credit card issuer (think store-branded cards for retailers like Wal-Mart.
The good news: at $2.8 billion, Synchrony is the biggest IPO of 2014 thus far. Ally Financial earlier in the year was $2.4 billion.
The bad news: pricing was at the low end of the price talk of $23 to $26. Some have argued that Synchrony's assets are lower-quality than those of competitors like Capital One Financial, but loan growth is improving, and defaults are lower for all the card holders.
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Another IPO is Healthequity, a platform for managing health savings accounts, which priced 9.1 million shares at $14, well above the price talk of $10 to $12. Four other IPOs priced, which were:
a) Catalent, a global provider of oral, injectable and respirator drug delivery technologies. They priced 42.5 million shares at $20.50, in the middle of the $19 to $22 price talk;
b) Avalanche Biotechnologies priced six million shares—more than expected—at $17, at the high end of an upwardly revised range of $16 to $17;
c) Rare disease biotech Bio Blast Pharma priced 3.2 million shares—slightly less than expected—at $11, at the low end of the $11 to $13 range;
d) Gene therapy biotech Vascular Biogenics priced 5.4 million shares at $12, below the $13 to $15 price talk.
--By CNBC's Bob Pisani