Today's Trading

Upside for Retail?

Ian Wyatt | Oct 07, 2009 05:20pm EDT | Comment
Rating: Unrated

One of the IPOs we've been expecting came out today. Verisk Analytics (Nasdaq:VRSK) was apparently offered at $22 for the lucky investors who were able to get their orders in pre-IPO. For the rest of us, Verisk Analytics opened at $26.41 and finished the day at $27.85. That's a nice gain for those that got the pre-IPO price. But on the day, only 5% gains were attainable.

The two IPOs we were looking for today have apparently been delayed. We'll look for Omeros Corp (proposed symbol OMER, expected to debut in the $10-$12 range) and Mistras Group (proposed symbol MG, expected to debut in the $14-$16 range) tomorrow.

High-end retailer Talbot's (NYSE:TLB) made the Top Gainers list with a 16% move on an analyst upgrade. The Friedman, Billings & Ramsey analyst gave the stock a $13 price target, a significant step up from yesterday's close at $9.56.

Now, retailers (other than Wal-Mart (NYSE:WMT)) have been laggards for the most part. It's easy to see why. High unemployment has crushed spending and retail sales are way down. And so are the stock prices...

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Ian Wyatt

About the Author
Ian Wyatt is a co-founder and President of Business Financial Publishing and the Chief Investment Strategist and Publisher of SmallCapInvestor.com and SmallCapInvestor.com PRO.