Frontline Aftermarket AnalysisMarch 11th, 2010

Institutional Tools

Pricings

The pricings report will list all equity IPOs and secondaries that have been priced for trading that day. Various infomation sets not only help the user to keep better records about items such as the CUSIP number, but also selling concessions, to name but a few.

Additional Pricings

The Additional Pricings report will list all equity IPOs and secondaries that have been priced for trading that day, that were not included in the regular Pricings report that comes out at 8:30. As each deal is confirmed, a report will be generated and continued to be produced with any subsequent pricings.

Various information sets not only help the user to keep better records about items such as the CUSIP number, but also selling concessions, to name but a few.

For more information on Pricings, click here.

Evaluation Changes

The evaluation changes report provides 3 main sources of information. First is the listing of all new issues on which we have changed our opening premium projections, from whatever they were prior.

Second would be a listing of all new issues that have been ranked by IPOfn for the 1st time.

Third is a listing of all new IPOs and Secondaries that have filed new registration statements to come public.

On Deck

The On Deck report advises the client of the IPOs and Secondaries that are 'expected' to be priced that night for trading the next morning. This report is somewhat like a last minute notification to the user to recheck their allocations with their brokers. Optimum target prices are included on Secondaries that, in our opinion, if priced at those levels, would increase any technical strength in the stock for trading.

Head Start Listing

The Headstart Listing shows all the IPO and Secondaries that are scheduled to be priced for only the following week. This report shows the deals in order of opening premium expectation. It is not meant to act as a replacement for the Calendar report, which lists out all IPOs and Secondaries that have a tentative calendar date, irrespective of when they are scheduled.

Alphabetical Listing

The Alpha report is the best way to find out the specifics of a deal, as the title would suggest, by its name. This report is used as a starting point for many clients to then go to other weekend reports.

Calendar

The Calendar Report is a comprehensive compilation of all IPOs and Secondaries that are scheduled to be priced. No longer is it necessary to piece together your own calendar from those supplied by the individual underwriters about their own deals. The listing for each week is broken down with separate sections for IPOs and Secondaries on a weekly basis.

Participating Underwriters

The Participating Underwriters report takes every IPO and Secondary and groups them by underwriter name. It makes no difference whether the underwriter is the lead or co-manager. In seeking out a specific underwriter, this report will outline all the deals in which that firm will be participating. The actual status of lead or co-manager is listed for each stock.
Two proprietary indices can be found on this report.
1. - IPOfn Ranking Index - a ranking that has a range of -4 at the low, to 12 at the high. The number is the only forward-looking index of the expected opening premium of all the IPOs in which that underwriter is involved.
2. - IPOfn Profile Index - a weighted average of the IPOfn Ranking Index with the size of the offerings. It will be a rough idea of which underwriters have access to greater size in the deals they underwrite.

Selling Group Participants

The Selling Group Report gives the user a historical reference of the selling groups from every IPO and Secondary that priced, going back to the beginning of 1989. The information is archived by the exact order of the underwriting group. Experience is displayed to show what the likelihood will be for underwriters to be included in the selling group. This serves to narrow the universe of firms that you should call to see if they will get any allocations.

Sector Breakdown

The Sector Breakdown is the 2nd part of the Sector Report. It takes every IPO and Secondary in the pipeline and breaks it down into the specific 4-digit SIC codes. It allows the user to see how heavily a sector is saturated, within that specific code or in other peripheral sectors. It also shows where the inefficiencies lie in each group. This allows for a clear display of those stocks either ahead or behind the current market. It is meant to be used in conjunction with the Sector Index that is the other part of the Sector Report.

Secondaries

The Secondary Report provides a series of information sets on all Secondaries, which are updated weekly, to help the user trade a position in each deal, numerous times before the Secondary actually prices. It will not only aid in generating more commissions for the brokers, thereby improving your chances for increased new issue allocations, but also hopefully, a series of trades that will create additional profits.

Secondary Alert

The Secondary Alert provides a series of information sets on newly filed Secondaries, which is not updated other than the initial submission of the individual reports, to help the user trade a position in each deal, numerous times before the Secondary actually prices. It will not only aid in generating more commissions for the brokers, but hopefully, a series of trades that will create additional profits and possibly larger allocations in the new issues market.

Shelf - Positive and Negative Divergence

The Shelf Issue Details report only deals with those secondary offerings that have been filed but have not yet disclosed underwriters or an amount of shares to be offered.

Many trading opportunities exist with these offerings and they are followed from the time they are registered, till they either receive terms to no longer qualify them as shelf offerings, or the company decides to officially request a withdrawal of their filing.

This report is broken down into 2 separate reports. Those shelf offerings that are currently above their price at the time of filing and another report that only deals with the offerings that are currently below their price at the time of filing.

Data on the stocks include performance of previous issues in the identical SIC code sector, in addition to the historical information about previous equity offerings from the company. Details are broken down as to what the performance is for other deals in that sector that are trying to also bring secondaries. The top and bottom 5 in each bracket are reflected.

Shelf - Sector Breakdown

This report takes all the shelf offerings that are in our database and groups them together in major and then minor industrial sectors. Detailed information is listed to allow investors to work through the inefficiencies within each sector.