Google may be moving closer to an IPO.
The Wall Street Journal reported today that Google has hired CS First Boston and Morgan Stanley as the lead underwriters for the company’s highly anticipated IPO, and an SEC filing on the offering could come as soon as this week.
Because of its size and number of shareholders, Google must soon begin reporting its finances to the SEC, which has led to speculation that the company may file for an IPO since it must make its financial information public anyway.
The IPO would be the biggest since the dot-com heyday, and possibly the biggest U.S. IPO ever. And it could also give a jolt to a market that has been in the doldrums since January.
Stocks fell Monday after a much stronger than expected housing report once again sparked inflation fears. Trading was quiet ahead of Thursday’s first-quarter GDP report.
The Nasdaq lost 13 to 2036, the S&P 500 fell 5 to 1135, and the Dow lost 28 to 10,444. Volume declined to 1.29 billion shares on the NYSE, and 1.73 billion on the Nasdaq. Decliners led 20-12 on the NYSE, and 18-13 on the Nasdaq. Downside volume was 64% on the NYSE, and 62% on the Nasdaq. New highs-new lows were 131-220 on the NYSE, and 148-25 on the Nasdaq.
After the close, FindWhat
and Slicon Labs
beat estimates, and EDS
During the day, CA
rose 3% on news of an interim CEO and revenue restatement.
slipped as Monolithic
sued to enforce the terms of the companies’ merger broken by Synopsis last week.
gained 13% on news that it has been selected by the FCC for a Voice over IP demo.
lost 3% on a warning.
declined 3% as the FTC continued to press its case against the company.
tumbled 13% on a downgrade.
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