News Summary: Rocky but busy week of IPOs

AP News
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Posted: Aug 10, 2012 3:16 PM
News Summary: Rocky but busy week of IPOs

THE NEWS: Soccer club Manchester United's flat debut on the New York Stock Exchange on Friday ended a rocky but busy week for initial public offerings. Outback Steakhouse's parent Bloomin' Brands, debt and asset collector Performant Financial and tech company Peregrine Semiconductor all also had stock debuts.

THE CONTEXT: There have been 22 initial public offerings since the last week in June. Investors are showing, however, they are being cautious unless the stock's price is reasonable and company financials are strong.

PRICE IS RIGHT?: Ten of the last 11 IPOS have priced below their expected range.