The Wall Street Journal - 28.10.2019

B6|Monday, October 28, 2019 THE WALL STREET JOURNAL.

PublicOfferings of Stock

IPOsin the U.S. Market

Initialpublic offerings of stock expected this week; might include some

offerings, U.S. and foreign, open to institutional investors only via the

Rule 144a market; deal amounts are for the U.S. market only

Symbol/ Pricing

Expected primary Shares Range($)

pricing date Filed Issuer/business exchange (mil.) Low/High Bookrunner(s)

10/30 10/4 Oyster Point Pharma Inc OYST 5.0 16.00/JPM, Cowen & Co.,

Biopharmaceutical

company providing novel

therapies to treat diseases

with high unmet needs.

Nq 18.00Piper Jaffray

10/31 10/8 Fangdd.com DUO 175.0 13.00/MS, Citi, UBS,

Software-E-Commerce

company engaged with a

property sales platform.

Nq 15.00China Int'l, AMTD

Grp

LockupExpirations

Below,companies whose officers and other insiders will become eligible

to sell shares in their newly public companies for the first time. Such

sales can move the stock’s price.

Lockup Offer Offer amt Through Lockup

expiration Issue date Issuer Symbol price($) ($ mil.) Friday (%) provision

Oct.28 May 1, ’19 Beyond Meat Inc BYND 25.00 231.0 303.2 180 days

Oct.30 May 3, ’19 Yunji Inc YJ 11.00 162.0 –54.5 180 days

May2,’19 SciPlay SCPL 16.00 330.0 –44.4 180 days

May1,’19 TransMedics Group IncTMDX 16.00 75.2 11.6 180 days

May2,’19 So–YoungInternational Inc SY 13.80 166.4 –30.8 180 days

May2,’19 RedRiver Bancshares IncRRBI 45.00 26.4 –3.4 180 days

Sources:Dealogic; WSJ Market Data Group

IPOScorecard

Performanceof IPOs, most-recent listed first

%Chg From % Chg From

CompanySYMBOL Friday's Offer 1st-day CompanySYMBOL Friday 3 s Offer1st-day

IPOdate/Offer price close($)price close IPOdate/Offer price close($)price close

AestheticMed Intl Hldgs10.03 –16.4 ... TFFPharmaceuticals 5.07 1.4 ...

AIHOct. 25/$12.00 TFFPOct. 25/$5.00

Cabaletta Bio 10.00 –9.1 ... Youdao 12.50–26.5 ...

CABAOct. 25/$11.00 DAOOct. 25/$17.00

Happiness Biotech Grp 4.50 –18.2 ... BRP Grp 16.15 15.4 –1.3

HAPPOct. 25/$5.50 BRPOct. 24/$14.00

PhathomPharmaceuticals24.60 29.5 ... GalileoAcquisition 10.03 0.3 –0.1

PHATOct. 25/$19.00 GLEO.UOct. 18/$10.00

Progyny 15.94 22.6 ... Union Acquisition II 10.07 0.7 –0.3

PGNYOct. 25/$13.00 LATNUOct. 18/$10.00

Sources:Dow Jones Market Data; FactSet

OtherStock Offerings

Secondariesand follow-ons expected this week in the U.S. market

None expected this week

Offthe Shelf

“Shelfregistrations” allow a company to prepare a stock or bond for

sale, without selling the whole issue at once. Corporations sell as

conditions become favorable. Here are the shelf sales, or takedowns,

over the last week:

Takedowndate/ Deal value

Issuer/Industry Registration date ($ mil.) Bookrunner(s)

SITECenters Corp Oct. 21 $197.1 GS, MS

Real Estate/Property June 14, 318

Opko Health Inc Oct. 24 $75.0 Jefferies, Piper Jaffray,

Healthcare Jan. 29, 319 Guggenheim Partners

Soleno Therapeutics Inc Oct. 23 $13.4 Oppenheimer Inc

Healthcare June 11, 319

Reeds Inc Oct. 23 $7.0 Roth Cptl Ptnrs

Food & Beverage Dec. 31, 318

TherapeuticsMD Inc Oct. 24 $71.5 JPM

Healthcare July 31, 318

Arco Platform Ltd Oct. 24 $331.9 GS,MS, Itau BBA, Credit Suisse,

Computers& Electronics Oct. 15, 319 Bradesco BBI

Publicand Private Borrowing

Treasurys

Monday,October 28 Thursday, October 31

Auction of 13 and 26 week bills; Auction of 4 and 8 week bills;

announced on October 24; settles on October 31announcedon October 29; settles on November 5

Publicand Municipal Finance

Dealsof $ 150 million or more expected this week

Final Total Rating Bookrunner/

Sale maturity Issuer ($mil.) Fitch Moody’s S&P Bond Counsel(s)

Oct.31 prelim. Cumberland 208.8N.R. N.R. N.R. M. Stanley/

Muni Auth OrrickH&S

Nov. 1 prelim. Myrtle Creek 174.2N.R. N.R. N.R. BoA Merrill/—

BuildingAuthority

Nov.1 prelim. So California 415.1N.R. N.R. N.R. Jefferies &

Tobacco Sec Auth Company Inc/—

Source:ThomsonReuters/Ipreo

Commoditiesand

Currencies

LastWeek YTD

Close Netchg %Chg %chg

DJCommodity 623.85 7.53 1.22 8.90

TR/CC CRB Index 178.37 2.62 1.49 5.05

Crude oil,$ per barrel 56.66 2.79 5.1824.77

Naturalgas,$/MMBtu 2.300-0.020 -0.86-21.77

Gold,$per troy oz. 1499.50 11.30 0.7617.30

U.S. Dollar Index 97.83 0.55 0.56 1.72

WSJ Dollar Index 90.87 0.40 0.44 1.35

Euro,per dollar 0.90260.0073 0.81 3.52

Yen,per dollar 108.66 0.26 0.24 -0.84

U.K. pound,in dollars 1.28-0.0149 -1.15 0.52

52-Week

LowClose(l) High %Chg

DJCommodity 572.87 l 639.65 -0.30

TR/CCCRB Index 167.89 l 195.51 -8.77

Crudeoil,$ per barrel 42.53 l 67.59-16.17

Naturalgas,$/MMBtu2.070 l 4.837-27.79

Gold,$per troy oz. 1199.20 l1550.30 21.66

U.S.Dollar Index 95.22 l 99.38 1.52

WSJDollar Index 88.65 l 91.99 0.66

Euro,perdollar 0.8662 l 0.9174 2.92

Yen,perdollar 105.30 l 114.06 -2.87

U.K.pound,in dollars 1.20 l 1.33 -0.02

Treasury yield curve

Yield to maturity of current bills,

notes and bonds

0.00

1.00

2.00

3.00

4.00%

1

month(s)

3 6 1

years

235710 30

maturity

t

Friday

t

Oneyear ago

Forex Race

Yen, euro vs. dollar; dollar vs.

major U.S. trading partners

–8

–4

0

4

8%

20182019

Euro

s

Yen

s

WSJ Dollar index

s

Sources:Ryan ALM; Tullett Prebon; Dow Jones Market Data

CorporateBorrowing Rates and Yields

Spread+/- Treasurys,

Yield (%) in basis pts, 52-wk Range Total Return

Bond total return index Last Wk ago Last Low High 52-wk 3-yr

10-yrTreasury,Ryan ALM 1.805 1.747 14.467 2.20

DJ Corporate n.a. 2.888 n.a. n.a.

Aggregate,Barclays Capital 2.330 2.290 n.a. 42 55 10.59 2.96

High Yield 100,Merrill Lynch 5.100 5.242 330 321 509 8.383 5.291

Fixed-Rate MBS,Barclays 2.580 2.550 n.a. 32 57 8.34 2.37

Muni Master,Merrill 1.716 1.684 9 5 21 8.411 3.127

EMBI Global,J.P. Morgan 5.178 5.190 326 326 441 13.087 4.052

Sources:J.P. Morgan; Ryan ALM; S&P Dow Jones Indices; Barclays Capital; Merrill Lynch

ConsumerRates and Returns to Investor

U.S. consumer rates

Aconsumer rate against its
benchmark over the past year

0.00

0.50

1.00

1.50

2.00%

2018

NDJ

2019

FMAMJJASO

t

Moneymarket

account yields

t

Federal-funds

target rate

Selectedrates
Moneymarket accounts
Bankrate.comavg†: 0.72%
Live Oak Bank 2.15%
Wilmington, NC 866-518-0286
Popular Direct 2.15%
New York, NY 800-274-5696
UFB Direct 2.15%
San Diego, CA 844-678-2718
Presidential Bank, FSB 2.25%
Bethesda, MD 800-383-6266
Vio Bank 2.27%
Phoenix, AZ 888-999-9170
Yield/Rate(%) 52-WeekRange (%) 3-yrchg
Interest rate Last (l)Week ago Low 0 2 4 6 8 High (pct pts)
Federal-fundsrate target 1.75-2.00 1.75-2.00 1.75 l 2.25 1.50
Primerate 5.00 5.00 5.00 l 5.50 1.50
Libor,3-month 1.93 1.95 1.93 l 2.82 1.04
Moneymarket,annualyield 0.72 0.73 0.43 l 0.78 0.45
Five-yearCD,annualyield 1.53 1.49 1.49 l 2.07 0.33
30-yearmortgage,fixed† 3.96 3.91 3.60 l 4.99 0.41
15-yearmortgage,fixed† 3.36 3.33 3.14 l 4.34 0.54
Jumbomortgages,$484,350-plus† 4.34 4.33 4.16 l 5.01 0.07
Five-yearadj mortgage(ARM)† 4.39 4.32 3.94 l 4.86 1.25
New-carloan,48-month 4.56 4.50 4.49 l 4.81 1.63
Bankrate.comrates based on survey of over 4,800 online banks. Base rate posted by 70% of the nation's largest
banks.† Excludes closing costs.

Sources: FactSet; Dow Jones Market Data; Bankrate.com

DowJones Industrial Average

26958.06s187.86,or 0.70% last week

High, low, open and close for each of
the past 52 weeks

LastYearago

TrailingP/E ratio

P/E estimate *

Dividend yield

All-time high

19.75 21.04

17.99 15.90

2.29 2.25

27359.16, 07/15/19

20000

21000

22000

23000

24000

25000

26000

27000

ON D J F M A M J J A S O

Current divisor 0.14744568353097

Bars measure the point change from Monday's open

tt

Week's high

Week's low

Monday's open

Friday's close Monday's open

Friday's close

DOWN UP

Primary

market ttComposite

65-day moving average

200-day moving average

NYSEweekly volume, in billions of shares

0

8

16

24

ON D J F M A M J J A S O

S&P500 Index

3022.55s36.35,or 1.22% last week

High, low, open and close for each of

the past 52 weeks

Last Yearago

TrailingP/E ratio *

P/E estimate *

Dividend yield *

All-time high

23.68 21.71

18.25 16.41

1.91 1.95

3025.86, 07/26/19

2300

2400

2500

2600

2700

2800

2900

3000

ON D J F M A M J J A S O

65-day moving average

200-day moving average

NasdaqComposite

s153.58,or 1.90%

last week

8300

8200

8100

8000

18

October

2122232425

DJ US TSM

s391.01,or 1.28%

last week

30975

30750

30525

30300

18

October

2122232425

InternationalStock Indexes

LatestWeek 52-WeekRange YTD

Region/CountryIndex Close % chg Low Close High % chg

World The Global Dow 3079.14 1.10 2631.29 • 3120.04 12.6

DJ Global Index 408.46 1.20 335.69 • 408.65 16.4

DJ Global ex U.S. 249.49 1.15 217.71 • 251.58 12.0

Americas DJ Americas 713.59 1.28 558.25 • 716.56 20.2

Brazil Sao Paulo Bovespa 107363.77 2.52 83796.71 •107543.59 22.2

Canada S&P/TSX Comp 16404.49 0.17 13780.19 • 16899.69 14.5

Mexico S&P/BMV IPC 43389.16 0.49 38574.18 • 46917.40 4.20

Chile Santiago IPSA 3543.11 –4.82 3303.90 • 4030.52 –5.8

EMEA Stoxx Europe 600 398.01 1.57 329.58 • 398.01 17.9

Stoxx Europe 50 3285.58 2.15 2696.36 • 3285.58 19.0

Eurozone Euro Stoxx 390.01 1.19 321.36 • 390.01 18.7

Euro Stoxx 50 3624.68 1.26 2937.36 • 3624.68 20.8

Austria ATX 3154.47 3.48 2681.25 • 3301.38 14.9

Belgium Bel-20 3752.35 –0.14 3164.98 • 3860.17 15.7

France CAC 40 5722.15 1.52 4598.61 • 5722.15 21.0

Germany DAX 12894.51 2.07 10381.51 • 12894.51 22.1

Greece Athex Composite 872.30 1.13 593.05 • 899.93 42.2

Israel Tel Aviv 1653.18 0.27 1419.50 • 1657.49 12.9

Italy FTSE MIB 22608.99 1.29 (^18065) • 22609 23.4
NetherlandsAEX 583.81 1.94 476.03 • 583.81 19.7
Portugal PSI 20 5090.25 2.27 4587.45 • 5420.07 7.6
Russia RTS Index 1421.20 4.86 1048.71 • 1421.20 33.0
South AfricaFTSE/JSE All-Share 55141.98 –1.04 50434.39 • 59544.80 4.6
Spain IBEX 35 9430.20 1.08 8363.9 • 9581.9 10.4
Sweden OMX Stockholm 650.98 2.26 515.36 • 650.98 24.0
Switzerland Swiss Market 10197.09 2.32 8195.64 • 10197.09 21.0
U.K. FTSE 100 7324.47 2.43 6584.68 • 7686.61 8.9
Asia-Pacific
Australia S&P/ASX 200 6739.20 1.35 5467.6 • 6845.1 19.4
China Shanghai Composite 2954.93 0.57 2464.36 • 3270.80 18.5
Hong Kong Hang Seng 26667.39 –0.20 24585.53 • 30157.49 3.2
India S&P BSE Sensex 39058.06 –0.61 33349.31 • 40267.62 8.3
Japan Nikkei Stock Avg 22799.81 1.37 19155.74 • 22799.81 13.9
Malaysia FTSEBursa Malaysia KLCI 1570.00 –0.07 1551.23 • 1730.68 –7.1
Singapore Straits Times 3185.53 2.29 2966.45 • 3407.02 3.8
South KoreaKospi 2087.89 1.32 1909.71 • 2248.63 2.3
Taiwan TAIEX 11296.12 1.04 9382.51 • 11320.14 16.1
Source:FactSet; Dow Jones Market Data
FinancialFlashback
TheWall Street Journal, October 28, 2003
Bank of America Corp. agreed to buy FleetBoston
Financial Corp. in an all-stock transaction valued at
$43 billion.
MajorU.S. Stock-Market Indexes
LatestWeek 52-Week %chg
High Low Close Net chg % chg Low Close (l) High %chg YTD 3-yr.ann.
DowJones
Industrial Average 27015.3726714.3426958.06 187.86 0.70 21792.20 l27359.16 9.2 15.6 14.1
TransportationAvg 10864.2510533.6510856.41 347.67 3.318637.15 l 11098.99 8.9 18.4 10.6
UtilityAverage 881.42 862.46 866.92 0.91 0.11 692.00 l 880.5 18.8 21.6 9.4
TotalStock Market 30973.4130577.9130923.12 391.01 1.28 24126.04 l31091.22 13.0 20.2 11.8
Barron's 400 691.26 684.27 689.31 7.32 1.07 571.68 l 720.53 3.3 13.1 8.5
NasdaqStock Market
Nasdaq Composite 8249.97 8078.35 8243.12 153.58 1.90 6192.92 l 8330.21 15.0 24.2 16.0
Nasdaq (^100) 8033.29 7845.09 8029.22 160.73 2.04 5899.35 l8029.22 17.2 26.8 18.0
S&P
500 Index 3027.39 2991.21 3022.55 36.35 1.22 2351.10 l 3025.86 13.7 20.6 12.1
MidCap 400 1964.43 1940.64 1959.22 22.46 1.16 1567.40 l 1986.8 9.1 17.8 8.8
SmallCap 600 970.60 955.53 968.12 17.75 1.87 793.86 l 992.06 3.9 14.6 9.7
OtherIndexes
Russell 2000 1562.56 1541.73 1558.71 23.23 1.51 1266.93 l 1614.98 5.0 15.6 8.6
NYSEComposite 13170.6913019.2513146.24 139.60 1.07 10769.83 l13239.87 9.8 15.6 7.6
ValueLine 526.77 520.27 526.02 8.43 1.63 446.06 l 552.12 1.5 11.4 3.7
NYSEArca Biotech 4457.32 4285.42 4393.12 113.53 2.65 3890.37 l 5261.79 -3.2 4.1 13.5
NYSEArca Pharma 594.53 584.29 592.81 5.18 0.88 535.91 l 612.45 5.0 4.2 6.6
KBWBank 105.05 101.84 104.71 3.71 3.68 80.78 l 104.71 10.4 22.1 12.2
PHLX§Gold/Silver 94.48 87.84 93.54 3.01 3.32 61.84 l 101.76 43.5 32.4 2.3
PHLX§OilService 68.43 62.84 67.22 4.36 6.93 59.66 l 124.56-45.2 -16.6 -25.1
PHLX§Semiconductor1650.201566.46 1648.67 58.58 3.681069.39 l1648.67 43.0 42.7 25.8
CBOEVolatility 15.12 12.62 12.65 -1.60 -11.23 12.01 l 36.07-47.6 -50.2 -2.0

NasdaqPHLX Sources: FactSet; Dow Jones Market Data
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BenchmarkBenchmark Yields and RatesYields and Rates
New to the Market
MARKETS DIGEST
Currencies
U.S.-dollarforeign-exchange rates in late New York trading
US$vs,
Fri YTDchg
Country/currency inUS$ perUS$ (%)
Americas
Argentinapeso .016759.924059.2
Brazilreal .2496 4.0070 3.2
Canadadollar .7658 1.3059–4.3
Chilepeso .001376 727.00 4.8
Colombiapeso .000294 3396.00 4.6
EcuadorUS dollar 11 unch
Mexicopeso .0525 19.0612–3.0
Uruguaypeso .02675 37.380015.4
Asia-Pacific
Australiandollar .68221.4658 3.4
Chinayuan .1415 7.0657 2.7
Hong Kongdollar .1276 7.8374 0.1
Indiarupee .01412 70.840 1.8
Indonesiarupiah .0000713 14035 –2.4
Japanyen .009203108.66–0.8
Kazakhstantenge .002573 388.70 1.1
Macaupataca .1238 8.0754 0.1
Malaysiaringgit .2389 4.1860 1.3
New Zealanddollar .6349 1.5751 5.8
Pakistanrupee .00640 156.14511.7
Philippinespeso .0195 51.210–2.5
Singaporedollar .7336 1.36310.01
South Koreawon .00085341171.82 5.2
SriLankarupee .0055130181.39–0.8
Taiwandollar .0327030.578–0.01
Thailandbaht .0331630.160–6.7
US$vs,
Fri YTDchg
Country/currency inUS$ perUS$ (%)
Vietnamdong .00004310 (^23201) 0.02
Europe
CzechRep.koruna .04337 23.060 2.9
Denmarkkrone .1483 6.7413 3.5
Euro areaeuro 1.1080 .9026 3.5
Hungaryforint .003370 296.77 6.0
Icelandkrona .008012 124.82 7.4
Norwaykrone .1087 9.1962 6.4
Polandzloty .2590 3.8612 3.2
Russiaruble .01565 63.881–7.7
Swedenkrona .1033 9.6843 9.4
Switzerlandfranc 1.0054 .9946 1.3
Turkeylira .1732 5.7748 9.2
Ukrainehryvnia .0397 25.1617–9.2
UKpound 1.2825 .7797–0.5
MiddleEast/Africa
Bahraindinar 2.6524 .37700.02
Egyptpound .0620 16.1369–9.9
Israelshekel .2830 3.5341–5.5
Kuwaitdinar 3.2926 .3037 0.2
Omansul rial 2.5977 .3850–0.01
Qatarrial .2741 3.649 0.4
Saudi Arabiariyal .2666 3.7504–0.03
SouthAfricarand .0684 14.6287 1.9
CloseNetChg%ChgYTD% Chg
WSJDollar Index90.87 0.09 0.09 1.35
Sources:Tullett Prebon, Dow Jones Market Data