A pair of mega-IPOs are in the pipeline. That story and more are what's in Friday's Market Minute.
That's right, it's Friday the 13th. But that hasn't been a bad omen for the market. It's gained ground in 8 of the 12 Friday the 13ths since 1929.
The Dow Jones industrial average (^DJI) fell 26 points Thursday, the Nasdaq composite index (^IXIC) lost 9 and the Standard & Poor's 500 index (^GPSC) fell 5 points, snapping a seven day win streak.
Twitter has filed documents with the Securities and Exchange Commission to go public. Of course, Twitter made the announcement in a tweet, and it quickly became a top trending story. However, the SEC filing came under a new confidential rule, so no information is available yet about the size or timing of the offer. The social networking service is estimated to be valued at more than $10 billion. Goldman Sachs (GS) has reportedly been named as the lead underwriter for the IPO.
Hilton Worldwide says it plans to raise at least $1.25 billion, even though the company is valued at much more than that. The company, now owned by the private equity group Blackstone (BX), operates or franchises more than 4,000 hotels worldwide. The IPO is expected to hit the market in the first half of next year.
A JPMorgan analyst has raised his price target on the red-hot shares of Facebook (FB). He says ad revenue from mobile sources will rise to 50 percent of the company's total this year.
As for JPMorgan Chase (JPM) itself, the Wall Street Journal says the banking giant plans to spend an extra $4 billion and devote 5,000 employees to clean up its risk and compliance problems.
Ulta Salon Cosmetics & Fragrance (ULTA) is looking pretty. Its quarterly net topped expectations, jumping 30 percent from a year ago.
Finally, we told you yesterday about the Men's Wearhouse (MW) 28 percent profit decline. Well, CEO Doug Ewert blames the number 13. He says the number 13 in 2013 has caused a number of brides to avoid getting married this year.
-Produced by Drew Trachtenberg.