initial public offerings (IPOs) trading on American exchanges

Wednesday, May 28, 2014

Sungy Mobile (GOMO) : 6-month performance

Marcus & Millichap (MMI) : 7-month performance

Zendesk (ZEN) began trading on the NYSE on 15 May 2014

cloud-based customer-service software provider Zendesk (NYSE:ZEN)

Zendesk, Inc., a software development company, provides software-as-a-service customer service platform for organizations. The company's platform provides a single customer service interface to manage one-on-one customer interactions; enables track and predict common questions and provides a seamless path to answers; allows to gather customer data and engage with customers based on the insights the data provides; and offers tools to understand customers and track the efficiency and effectiveness of the customer service. It also provides live chat software as an integrated service with its customer service platform for chat-enabled agents. The company provides customer service through its platform in approximately 40 languages to customers in various industries, such as business technology, telecommunications, education/non-profit, consumer technology, media/entertainment, and retail/ecommerce. It serves customers in approximately 140 countries. Zendesk, Inc. was founded in 2007 and is headquartered in San Francisco, California.


United States

Key stats and ratios

Q1 (Mar '14)2013
Net profit margin-40.89%-31.33%
Operating margin-38.86%-30.30%
EBITD margin--23.06%
Return on average assets-39.21%-28.79%
Return on average equity--

Everyday Health (EVDY) : 2-month performance

  • The company’s initial public offering was on March 28, 2014 on the New York Stock Exchange, with the symbol EVDY representing the company.  It opened at $14 per share, closing the day at $13.50.  On October 21, 2016, Ziff Davis a subsidiary of j2 Global (JCOM) announce that it will be acquiring the company for a value worth $465 million. It became finalised on December 8, 2016, thus becoming a subsidiary of J2 Global.

Tuniu (TOUR) began trading on the NASDAQ on 9 May 2014

Tuniu Corporation operates as an online leisure travel company in the People's Republic of China. It offers packaged tours, including organized tours and self-guided tours, and travel-related services for leisure travelers covering various countries, as well as all popular tourist attractions in the People's Republic of China. The company provides its services through Website, mobile platform, centralized call centers, and regional service centers. Tuniu Corporation was founded in 2006 and is headquartered in Nanjing, the People's Republic of China.



Key stats and ratios

Q4 (Dec '13)2013
Net profit margin-11.04%-4.08%
Operating margin-12.17%-4.98%
EBITD margin--4.50%
Return on average assets-18.35%-10.09%
Return on average equity--
Employees1,415 (JD) began trading on the NASDAQ on 22 May 2014

  • (JD) is China's largest internet company by revenue. 
  • It has an e-commerce business model similar to (AMZN), and competes most directly in China against Alibaba (BABA).

Description, Inc. is a holding company. The Company is an online direct sales company. The Company, through its Website and mobile applications offers a selection of authentic products. The Company also offers online and in-person payment options and comprehensive customer services. As of February 28, 2014, the Company offered approximately 31.3 million stock keeping units (SKUs) through its online direct sales and marketplace. As of February 28, 2014, the Company operated 82 warehouses with an aggregate gross floor area of over 1.3 million square meters in 34 cities and 1,485 delivery stations and 212 pickup stations in 476 cities across China, staffed by 20,785 delivery personnel, 8,828 warehouse staff and 4,874 customer service personnel. The Company’s subsidiaries include Beijing Jingdong Century Trade Co., Ltd., Tianjin Star East Corporation Limited, Beijing Jingbangda Trade Co., Ltd. and Shanghai Shengdayuan Information Technology Co., Ltd.


10/F, Building A, North Star C No.8, Beichen West Street, Cha

Key stats and ratios

Q4 (Dec '13)2013
Net profit margin--0.07%
Operating margin--0.83%
EBITD margin--0.41%
Return on average assets--0.23%
Return on average equity--165.42%

SCYNEXIS (SCYX) began trading on the NASDAQ on 2 May 2014

SCYNEXIS, Inc. is a pharmaceutical company committed to the discovery, development and commercialization of anti-infectives to address unmet therapeutic needs. The Company is developing its lead product candidate, SCY-078, as an oral and intravenous (IV) drug for the treatment of serious and life-threatening invasive fungal infections in humans. SCY-078 represents a new chemical class of drugs designed to block an established target in infectious fungi. The Company is developing both an IV and oral formulation of SCY-078. SCY-078 is a potent inhibitor of the synthesis of the fungal cell wall polymer glucan, an essential component of Candida and Aspergillus species. The compound is derived, by chemical modification, from a natural product that shows anti-fungal activity against Candida and Aspergillus through inhibition of glucan synthesis, like the echinocandin class.


DURHAM, NC 27713
United States 

Phibro Animal Health (PAHC) began trading on the NASDAQ on 11 April 2014

Phibro Animal Health Corporation (PAHC) is a diversified animal health and mineral nutrition company. The Company sells more than 1,100 product presentations in over 65 countries to approximately 2,850 customers. The Company develops, manufactures and markets products for a broad range of food animals including poultry, swine, beef and dairy cattle and aquaculture. Its products help prevent, control and treat diseases, enhance nutrition to help improve health and performance and contribute to balanced mineral nutrition. The Company’s segments include Animal Health, Mineral Nutrition and Performance Products.


United States 

Key stats and ratios

Q1 (Mar '14)2013
Net profit margin3.68%3.81%
Operating margin10.00%8.69%
EBITD margin-11.60%
Return on average assets5.36%5.44%
Return on average equity--

Saturday, May 24, 2014

Splunk (SPLK) : 2-year performance

SPLK is a $5.48 billion technology company that provides software solutions that provide real-time operational intelligence in the United States and internationally.  SPLK has lost 60% of its market cap in just the last two months or so, with its momentum oscillators now in very oversold territory.  These former momentum stocks are under severe selling pressure, but could definitely see a spike this week as May options expire on Friday.  We like entry at the current price and again at $45.00 with a closing stop beneath $44.00.  Consider a short-term target of $53.00 to test price resistance.

Agile Therapeutics (AGRX) began trading on the NASDAQ on 23 May 2014

Agile Therapeutics Inc., a women's health specialty pharmaceutical company focused on the development and commercialization of new prescription contraceptive products, announced the pricing of its initial public offering of 9.17 million shares of its common stock at a public offering price of $6.00 per share. According to recent regulatory filings, the company planned to offer 4.62 million shares in the range of $12.00 and $14.00 per share.

Agile Therapeutics has granted the underwriters a 30-day option to purchase up to an aggregate of 1.38 million additional shares of common stock at the initial public offering price to cover any over-allotments.

The shares are expected to begin trading on the NASDAQ Global Market, beginning on May 23, 2014, under the symbol "AGRX." The offering is expected to close on May 29, 2014, subject to customary closing conditions.

The company estimates that the net proceeds to the company from this offering, after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by it, will be approximately $49.2 million, assuming the shares are offered at $6.00 per share.

The company anticipates that the majority of the net proceeds from this offering will be used for costs associated with the commencement and completion of an additional Phase 3 trial for Twirla. The remaining proceeds will be used for completion of the Corium equipment validation, development of our product pipeline, and for working capital and general corporate purposes which may include scheduled payments of principal and interest on its outstanding loan.

Parsley Energy (PE) began trading on the NYSE on 23 May 2014

Parsley Energy Inc's (PE) shares rose 20% in their U.S. market debut, valuing the oil and natural gas producer at about $2.51 billion.

The company's initial public offering raised $925 million after its upsized offering of 50 million Class A shares was priced $18.50 per share, slightly above the top end of its expected price range of $15-$18.

Parsley sold 42.4 million shares in the IPO, with selling stockholders offering the rest.

The company's shares opened at $22.30 on the New York Stock Exchange on Friday and touched a high of $22.47. The stock was the top percentage gainer and the most traded stock on the exchange.

Parsley acquires and develops unconventional oil and natural gas reserves in the Permian Basin in West Texas and Southeastern New Mexico.

The Permian Basin is known for high oil and natural gas content, long-lasting reserves and high success rates of drilling.

Parsley, formed in December 2013, reported a net income of $833,000 attributable to stockholders and revenue of $63.1 million for the quarter ended March 31.

The Midland, Texas-based company, which is backed by NGP X US Holdings LP and Diamond K Interests LP, said it would use the proceeds from the offering to reduce debt and for general corporate purposes.

Credit Suisse, Goldman Sachs & Co, J.P. Morgan and Wells Fargo Securities were the lead underwriters of the offering.

Wednesday, May 21, 2014

China's prices IPO at $19, above expectations

China's priced its IPO at $19 per share, exceeding the expected range and suggesting strong demand for Chinese e-commerce companies as larger rival Alibaba Group Holding Inc prepares its own highly anticipated U.S. debut.

The country's second-largest e-commerce company priced its American Depositary Shares (ADS) a dollar above the higher end of a $16 to $18 indicated range, valuing the company at more than $25 billion, according to its underwriters.

A courier in Beijing for

Investors are watching, hoping for clues as to how Wall Street will receive its much larger peer. Alibaba has filed for what some expect could be the largest initial public offering by a technology company to date., which has forged a close partnership with Alibaba arch-rival Tencent Holdings, raised $1.78 billion from the sale of 93.7 million ADS. Its shares are expected to start trading on Thursday on the Nasdaq.

The 10-year-old company, the biggest direct seller of online goods in China, will remain tightly controlled by founder and CEO Richard Liu after the IPO through special shares that grant him extra voting rights.

Investor appetite for Chinese technology stocks recovered in 2013 after a series of accounting scandals dried up U.S. listings in 2011 from a high of 40 in 2010. This year, investors have driven down valuations of tech stocks, including that of, but many on Wall Street expect a stellar debut from Alibaba, which controls some 80 percent of all online Chinese commerce.

China's business to consumer e-commerce sales may pass $180 billion this year due to rising Internet usage, expanding middle-class incomes and a better distribution network, according to New York-based market research firm eMarketer. had an 18.3 percent share of that market as of the third quarter of 2013, according to Beijing-based iResearch. It claims some 30 million-plus active customers and saw net revenue jump 70 percent to $8 billion in 2013's first nine months.

Formerly known as 360Buy, it has already raised more than $2 billion in past years from investors including the Ontario Teachers' Pension Plan and Saudi billionaire Prince Alwaleed bin Talal's Kingdom Holding Co.

Tuesday, May 6, 2014

Twitter shares hit new lows as stock lock-up expires

  • Shares of Twitter Inc sank 18 percent to a new low in frenzied trading on Tuesday, wiping out more than $4 billion of its market value, as early investors sold stock in the messaging service for the first time after a six-month "lock-up" expired.
  • The lock-up agreement that expired this week applied to about 470 million shares, or 82 percent of Twitter's equity, held by insiders, venture capitalists and other investors. Twitter allowed one batch of shares to be sold in February, but that lockup governed only about 10 million shares, most of which were held by non-executive employees.
  • Tuesday's reaction to Twitter's lock-up expiry was in sharp contrast to that of Facebook Inc in late 2012. Facebook shares jumped 13 percent on November 14 that year, when its lock-up expiry of roughly 800 million shares did not trigger an immediate wave of insider selling.
  • Twitter's shares have been trading at all-time lows since April 29, when the company disclosed sagging usage metrics.  Indeed, concerns about user growth and engagement levels have wiped out about half of Twitter's market value, more than $18 billion, since late December, even as it has hit revenue targets in the two quarters since it went public at $26 a share.

Until Tuesday, only about 80 million Twitter shares, a fraction of outstanding shares, were publicly traded. About 500 million closely held shares were unlocked for possible trades late Monday. They hit the market at Tuesday's opening bell.

This week's lock-up is the second and by far the largest lock-up period for Twitter, which also freed about 9.9 million shares held by non-executive employees on Feb. 15. The company sold about 70 million shares in its November 2013 initial public offering.

Vijaya Gadde, Twitter's general counsel, sold 3,914 shares on Tuesday at $39.09 apiece, according to a regulatory filing. Vice President of Engineering Christopher Fry sold 19,568 shares at the same price, according to another regulatory filing. Both still hold many shares, with Gadde's holdings totaling 861,642 shares and Fry's at 949,181 following their sales.

Several executives, including CEO Richard Costolo, said in an April 14 regulatory filing that they don't have "current plans" to sell shares.

"This should, arguably, help alleviate some of the potential pressure on the stock in the coming weeks," wrote Sterne Agee analyst Arvind Bhatia in a research note before the lock-up ended.

But Twitter stock nonetheless fell more than 16% to about 32.35 by late afternoon on the stock market today. The stock's trading about 57% off its all-time high of 74.73 on Dec. 26.

Tuesday's trading volume flew north of 100 million shares in late-afternoon trading, about 8x the company's daily average of 13.2 million shares.

Friday, May 2, 2014

Trustwave cancels IPO

Security-software company Trustwave Holdings Inc. has withdrawn an IPO prospectus filed three years ago.
The company was ready to price the offering and sell shares to brokerages in August 2011 but postponed the deal because of a steep drop in the stock market amid the first crisis over the debt ceiling for the U.S. government.

“As an administrative matter, Trustwave has filed to withdraw its Form S-1 Registration with the Securities and Exchange Commission which was filed in 2011," the Chicago company said. “Trustwave continues to watch market conditions and is keeping its strategic options open.”

Even though its prospectus was in limbo, Trustwave wasn't. The company has made four acquisitions since then, getting further into the security-services business. More recently, it was pulled into the spotlight in connection with the security breach at Target Corp. Trustwave's primary business is certifying that merchants are compliant with data-security rules around credit card transactions.

Since Trustwave put its IPO on ice, Chicago has enjoyed a mini-boom in tech public offerings. In the past year, Textura Corp., Gogo Inc., CDW Corp., Paylocity Holding Corp. and GrubHub Inc. all have gone public.