More China IPO Mania
S&P futures popped about 4 points, the dollar weakens, as initial jobless claims for the week come in at 421,000, a bit lower than the 429,000 consensus.
China IPO mania continues: 2 other Chinese IPOs price overnight.
1) SemiLEDs Corporation , manufactures LED chips and components for general lighting, priced 5.25 million shares at $17, well above the price talk of $14.50-$16.50.
2) Bona Film Group , a distributor of domestic films, priced 11.75 million share at $8.50, within the price talk of $7-$9.
And what about Youku.com and Dangdang , which closed up 161 and 86 percent (!) respectively, in their first day of trading? They were both trading up about 5 percent pre-open!
More IPOs: separately, First Republic Bank priced 11 million shares at $25.50, within the range of $24-$27.
1) China down 1.4 percent (2 month low) on worries about a rate hike. Jobs growth in Australia was stronger than expected.
2) Another record high for copper.
3) Fitch downgraded Ireland's debt rating to BBB+, but said the outlook was "stable"
4) AIG should reopen this morning after being halted late day to release details of its capital reorganization plan.
4) Freeport McMoRan declared a supplemental dividend of $1.00 per share and is splitting its stock 2 for 1 effective February 1, 2011. This is one of the first stock splits to be announced, but there are other potential candidates in oil and materials.
5) Boeing's Dreamliner plane will not be delivered until July, according to the French paper Les Echos.
6) Dupont guidance: 2011 EPS $3.30-$3.60 (consensus $3.45), sales $33-$34 billion.
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