| Cascal, ATA Debuts Generate Tepid Interest From Investors
The initial public offerings of a British water-utilities company and a Chinese educational-testing firm didn't draw much excitement from U.S. investors. The IPO of water-services company Cascal BV closed at $12 a share at 4 p.m. in New York Stock Exchange composite trading, flat with its IPO price. Chinese educational-testing-services company ATA Inc. closed at $8.75 on the Nasdaq Stock Market, down 7.9% from its $9.50 IPO price. Both companies became public on a day that broader markets indices traded higher. Cascal, which had planned to debut in the U.S. last week, ended up reducing both the price and the number of shares it sold in the offering before it could go public. The company raised a total of $144 million, almost half the $317 million it had aimed for at the high end of its original $17-to-$19 price range, which was set by underwriter J.P.
Most Asian markets cheered by rally on Wall Street
Most Asian markets bounced back following yesterday's rally on Wall Street. European shares rose in early trading and U.S stock futures are mixed. Global markets have been in turmoil this month as investors reacted to a string of bad economic data out of the U.S. Asian markets are especially sensitive as their economies rely heavily on American consumers buying their exports. Today's bump comes amid speculation the Federal Reserve will cut a key interest rate later this week. A two-day meeting of the Federal Reserve starts today in Washington. Last week, the Fed cut a key rate by three-quarters of a point, to 3.5 percent. ©2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. .
XShares Announces Availability of Parkinson Disease Foundation's 50th ...
NEW YORK, Nov. 13 /PRNewswire/ -- XShares Advisors LLC today announced the availability of a webcast of the Parkinson's Disease Foundation's 50th Anniversary Educational Symposium. The webcast, under editorial control of the Parkinson's Disease Foundation and supported exclusively by XShares, can be found at www.pdf.org/50th/webcast.cfm and offers more than twenty hours of presentations on the most seminal topics in Parkinson's basic and clinical research. XShares commenced a 12-month supporting relationship with the Parkinson's Disease Foundation in July 2007. XShares offers an innovative means to participate in the biotechnology and life science sector through its HealthShares(TM) family of Exchange-Traded Funds (ETFs). The HealthShares(TM) Neuroscience ETF is comprised of 22 companies that are engaged in the research, clinical development and/or commercialization of therapeutic agents for the treatment of a wide variety of neurological and psychiatric disorders including Parkinson's.
Indexes Slip As Light Trading Provides Little Traction
Indexes moved quietly lower in weak volume, as the market waited for interest-rate news from the Fed. The NYSE composite slipped 0.7%, while the Nasdaq and S&P 500 had drooped 0.4% at 12:54 p.m. EST. The Dow showed a 0.3% loss. Volume was 20% lower on the NYSE, down 9% on the Nasdaq. The Nasdaq's (NASDAQ:NDAQ) transportation index provided a bright spot, rising 2.1% on strength in dry-bulk shippers, air carriers, trucking companies and logistics services providers. C.H. Robinson CHRW gapped up, adding 2.95 to 53.76 in big volume. The logistics services provider has been trading sideways since nailing highs in April 2007. Wednesday's move lifted shares well off their 50-day moving average to 8% below the April high. Range Resources RRC jumped 2.49 to 51.10 after announcing its natural gas reserves had increased to 2.2 trillion cubic feet equal to 537% of its 2007 production.
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