Morgan Stanley to take Hulu public
The financial giant will reportedly lead the much-anticipated initial public offering for for video-streaming service.
By Maria Woehr, TheStreet
Dealogic reports that as of Oct. 8, Morgan Stanley was in second place as a bookrunner, raking in 28 deals grossing more than $11 billion year to date. Goldman Sachs (GS) was in first place, with 40 deals totaling $11.3 billion. This year there have been 940 IPOs totaling more than $156 billion.
"Morgan Stanley has been one of the better IPO underwriters," says Scott Sweet of senior managing partner IPO Boutique. "Certainly Netflix (NFLX) and Gamefly are considered consumer products. So far there have been 27 IPOs in the pipeline of 180."
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[BRIEFING.COM] The stock market maintained a narrow trading range on Thursday before ending the session essentially where it began. The S&P 500 added less than a point, while the small-cap Russell 2000 (-0.2%) underperformed.
Equity indices displayed early strength thanks in part to an overnight boost from better than expected economic data in China and Europe. Specifically, China's HSBC Manufacturing PMI surged to an 18-month high (52.0 from 50.7), while Eurozone Manufacturing PMI ... More
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