Nearly two-dozen IPOs are slated to hit the market next week, and there's nary a blockbuster among them.
With companies eager to get their offerings onto the market before the vacation days of August, an estimated 23 new issues are set to begin trading next week.
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The glut of choices could hurt individual performances, however, and those looking to invest can expect at least a few to hold off until the market is a bit less spooked, analysts said.
Hints of rising inflation have investors worried about a possible interest rate hike. Federal Reserve chairman Alan Greenspan told Congress this week that the central bank stood poised to act quickly to raise interest rates at any sign of growing inflation.
"I'd be shocked if they all went [to market]," said Ken Fleming, an analyst for Renaissance Capital.
Nevertheless, Fleming expects some of the companies going public to ride the dot-com wave to quick IPO profits. Among Fleming's top picks are HomeStore.com, a leading online real estate broker, and Internet Capital Group, which invests in companies in the business-to-business e-commerce market. He also has high hopes for Internet Initiative Japan, Japan's leading ISP.
Fleming also expects semiconductor manufacturing firm Fairchild Semiconductor to sell well on its opening day.
"Semiconductors are one of the hottest sectors in the broader market, so there should be some interest in Fairchild," he said.
Other companies scheduled for IPOs cover a wide range of services. Those with big-name backers include 1-800-FLOWERS.com, Interactive Pictures, U.S. Interactive, and Women.com Networks.
