Market Minute: IPO Fever Hits Wall Street; Facebook Gets a Thumbs Up

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.

Dick Costolo, chief executive officer of Twitter Inc., speaks at the TechCrunch Disrupt SF 2013 conference in San Francisco
David Paul Morris/Bloomberg via Getty ImagesTwitter CEO Dick Costolo spoke Monday at the TechCrunch Disrupt SF 2013 conference in San Francisco.
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.

Apps That Manage Your Money For You
See Gallery
Market Minute: IPO Fever Hits Wall Street; Facebook Gets a Thumbs Up

Mint made the Mac App Store's Best of 2012 list for a reason. This simple, clean app shows how much you are spending in each category of your budget by monitoring all of your transactions. We love signing in and getting a quick, dirty rundown of where our money has gone over the last week, and using their personalized budget tools to stay on track. We highly recommend adjusting your budgets for summer months. You might spend less on transportation when the weather is nice, and chances are you could use that extra cash to flesh out that restaurant tab, right?

Price: Free

Available for Apple and Android.

This is the all-in-one financial organizer. Manage all of your accounts, from credit cards to magazine subscriptions, in one place and even make custom accounts for your rent or cleaning service. Get reminders for bill payments, and monitor all of your travel reward points, too. You'll always know what you owe, how much money you have and can plan for upcoming bills and expenses without having to sift through tons of paperwork.

Price: Free

Available for Apple and Android devices.

If you want to isolate the expense tracker function of Mint in a super simple day-to-day app, then DailyCost is a great buy. A wide variety of categories lets users input all of their daily expenses. Holding your phone horizontally, you will be able to see graphs and statistics on your spending. The app also tracks your weekly and monthly spending by category and can be backed up to iCloud for Mac users, so you'll never lose your data.

Price: $1.99

Available for Apple only.

If you're a heavy traveler, Toshl is an excellent expense and budget tracker. It works with any currency and lets you separate your travel budget from your day-to-day expenses. It comes with all the trappings of a regular money management app, too, such as bill organizer and alerts, and can be synced across all your devices.

Price: Free

Available on Apple and Android devices.

Next time you organize a group activity, Tricount will split up the expenses for you. Create the expense report on your phone and organize by person, how much they owe, and then share via email so everyone knows their share. With options for expenses, balance, share, and configuration, the app does all of the math for you.

Price: Free

Available for Apple and Android devices.

Never miss a bill payment again. This app reminds you when your payments are due, and lets you pay on the spot from a bank account or credit card, or you can schedule a payment for the future. Connect all of your accounts to the encrypted app and then view them all in one place for easy access and payment options. You'll never overdraft or miss a payment again.

Price: Free

Available on Apple and Android devices.

Make and share payments with friends. This app uses the same technology to pay as LivingSocial, Uber and Airbnb. Pay with your debit card or transfer funds from a linked bank account, right to a friend's Venmo account. It is Verisign Certified.

Price: Free

Available on Apple and Android devices.

Read Full Story


DJIA 25,028.33 15.04 0.06%
NASDAQ 7,416.06 22.02 0.30%
NIKKEI 225 22,960.34 -42.03 -0.18%
HANG SENG 31,234.35 186.44 0.60%
DAX 13,196.36 118.64 0.91%
USD (per EUR) 1.18 0.00 -0.11%
USD (per CHF) 0.99 0.00 -0.23%
JPY (per USD) 111.03 0.05 0.04%
GBP (per USD) 1.34 0.00 0.04%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.