So MRC Global priced at $21 (low end), opened at $20.50 and Oaktree Capital priced at $43 (low end) and opened at $41.
The only winner is Forum Energy Technologies, pricing at $20, the high end of price talk with more shares added, opening at $22.50.
What does this mean? It is a disappointment, but be careful about extrapolating to the entire IPO market: This week there was a crop of IPOs that didn't appeal to many people. That's about it.
BrightSource Energy? They are trying to develop utility-scale power-generating plants that run on solar. The problem: It's very difficult to store solar energy...so they are literally boiling water to generate steam that generates electricity.
That's right. They're essentially using solar energy to power a boiler.
Bottom line: Worthy work, but green energy has lost much of its luster.
Next week is, well, a new week: Luggage company Tumi is going public, along with Splunk (software for large-scale data analysis in an enterprise), Infoblox (automated network controls and next-generation data centers — cloud computing!), and Proofpoint (data protection — very hot).
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