The Wall Street Journal - 07.10.2019

B8|Monday,October7, 2019 THEWALL STREETJOURNAL.

PublicOfferingsofStock

IPOsintheU.S.Market

Initialpublicofferingsofstockexpectedthisweek;mightincludesome

offerings,U.S.andforeign,opentoinstitutionalinvestorsonlyviathe

Rule144amarket;dealamountsarefortheU.S.marketonly

Symbol/ Pricing

Expected primary Shares Range($)

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

10/9 9/9 BioNTech BNTX 13.2 18.00/JPM,BofAML,

Biotechnologycompany

developing

immunotherapiesforthe

treatmentofcancer.

Nq 20.00UBS,SVBLeerink

10/10 9/13 HBTFinancial HBT 8.3 17.00/Stifel,JPM

Commercialbank. Nq 19.00

10/10 9/3 VirBiotechnology VIR 7.1 20.00/GS,JPM,

Researcherofcures,

treatments,and

preventionsforviraland

bacterialdiseases.

Nq 22.00Cowen&Co,

Barclays

LockupExpirations

Below,companieswhoseofficersandotherinsiderswillbecomeeligible

tosellsharesintheirnewlypubliccompaniesforthefirsttime.Such

salescanmovethestock’sprice.

Lockup Offer Offeramt Through Lockup

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

Oct.7April10,’19PagerDuty PD 24.00 250.3 15.4 180 days

April10,’19TufinSoftwareTechnologiesTUFN 14.00 124.0 18.5 180 days

Oct.8April11,’19 JumiaTechnologiesA JMIA 14.50 225.1 –44.3 180 days

Oct.13 April16,’19PalomarHoldings PLMR 15.00 97.0 156.3 180 days

April16,’19TurningPointTherapeuticsTPTX 18.00 191.5 104.7 180 days

Sources:Dealogic; WSJMarketDataGroup

OtherStockOfferings

Secondariesandfollow-onsexpectedthisweekintheU.S.market

Noneexpectedthisweek

OfftheShelf

“Shelfregistrations”allowacompanytoprepareastockorbondfor

sale,withoutsellingthewholeissueatonce.Corporationssellas

conditionsbecomefavorable.Herearetheshelfsales,ortakedowns,

overthelastweek:

Takedowndate/ Dealvalue

Issuer/Industry Registrationdate ($mil.) Bookrunner(s)

OvidTherapeutics Oct.4 $22.5 Cowen&Co,

Healthcare June1, 318 W.Blair

HeronTherapeutics Oct.3 $150.0 Jefferies,Cowen&Co

Healthcare July6, 317 Evercore

CorvusGold Oct.2 $15.1 BMOCptlMkts

Mining Feb.4, 319

HutchisonChinaMeditech Sept.30 $30.0 BofAML,GS,JPM

Healthcare April3, 317

PublicandPrivateBorrowing

Treasurys

Monday,October 7 Tuesday,October8

Auctionof13weekbill; Auctionof52weekbill;

announcedonOctober3;settlesonOctober10announcedonOctober3;settlesonOctober10

Auctionof26weekbill; Auctionof3yearnote;

announcedonOctober3;settlesonOctober10announcedonOctober3;settlesonOctober15

Wednesday,October 9 Thursday,October10

Auctionof10yearnote; Auctionof4and8weekbills;

announcedonOctober3;settlesonOctober15announcedonOctober8;settlesonOctober15

Auctionof30yearbond;

announcedonOctober3;settlesonOctober15

PublicandMunicipalFinance

Dealsof$150millionormoreexpectedthisweek

Sale maturity IssuerFinal ($mil.) Fitch Moody’s S&P BondCounsel(s)Total Rating Bookrunner/

Oct.7prelim. BlackBelt 300.0 N.R. N.R. N.R. M.Stanley/

EnergyGasDt OrrickH&S

Oct.7prelim. CentralPlains 775.0 N.R. N.R. N.R. RBCCptlMkt/—

EnergyProject

Oct.7 Feb.1,2047IndianaFinance 200.0 N.R. N.R. N.R. M.Stanley/Ice

Authority MillerLLP

Oct.7 Dec.1,2049KentuckyPub 536.0 N.R. N.R. N.R.JPMorganSecurities

EnergyAu(PEAK) LLC/KutakRock/

BallardSpahrLLP

Oct.7prelim. LowerAlabama 638.4 N.R. N.R. N.R. Goldman&Co/—

GasDt

Oct.8prelim. LexingtonSD#1 165.0 N.R. N.R. N.R.Preliminary/Haynsworth

SinklerBoyd

Oct.9 June15,2039ClarkSD 200.0 N.R. N.R. N.R. Preliminary/

Sherman&Howard

Oct.10 prelim. CliftonHigher 213.2 N.R. N.R. N.R. RobertW

EdFinance Baird&CoInc/—

Oct.11 prelim. CaliforniaHealth 325.8 N.R. N.R. N.R. M.Stanley/

FacsFinAuth NortonRoseFulbright

Oct.11 prelim. DistrictofColumbia 159.3 N.R. N.R. N.R. SiebertCisneros

Wtr&SwrAu Shank&Co/—

Oct.11 prelim. DistrictofColumbia 343.5 N.R. N.R. N.R. SiebertCisneros

Wtr&SwrAu Shank&Co/—

Source:ThomsonReuters/Ipreo

New to the Market IPO Scorecard B9

MARKETS DIGEST

Commoditiesand

Currencies

LastWeek YTD

Close Netchg %Chg %chg

DJCommodity 604.99 -4.42 -0.73 5.61

TR/CCCRBIndex 173.49 -2.22 -1.26 2.17

Crudeoil,$perbarrel 52.81 -3.10 -5.5416.30

Naturalgas,$/MMBtu 2.352-0.052 -2.16-20.00

Gold,$pertroyoz. 1506.20 7.10 0.4717.83

U.S.DollarIndex 98.84 -0.28 -0.29 2.77

WSJDollarIndex 91.54 -0.27 -0.29 2.09

Euro,perdollar 0.9108-0.0032 -0.35 4.46

Yen,perdollar 106.93 -1.00 -0.93 -2.43

U.K.pound,indollars 1.230.0044 0.36 -3.33

52-Week

LowClose(l) High %Chg

DJCommodity 572.87 l 641.19 -5.08

TR/CCCRBIndex 167.89 l 200.37-12.83

Crudeoil,$perbarrel 42.53 l 74.96-28.96

Naturalgas,$/MMBtu2.070 l 4.837-25.17

Gold,$pertroyoz. 1184.40 l1550.3025.39

U.S.DollarIndex 95.02 l 99.38 3.36

WSJDollarIndex 88.65 l 91.99 1.44

Euro,perdollar 0.8624 l0.9174 4.95

Yen,perdollar 105.30 l 114.06 -5.96

U.K.pound,indollars 1.20 l 1.33 -5.96

Treasuryyieldcurve

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

ForexRace

Yen, eurovs. dollar; dollarvs.

majorU.S. trading partners

–8

–4

0

4

8%

20182019

Euro

s

Yen

s

WSJ Dollar index

s

Sources:RyanALM;TullettPrebon;DowJonesMarketData

CorporateBorrowingRatesandYields

Spread+/-Treasurys,

Yield(%) inbasispts,52-wkRange TotalReturn

Bondtotalreturnindex Last Wkago Last Low High 52-wk 3-yr

10-yrTreasury,RyanALM 1.515 1.678 19.089 2.86

DJCorporate n.a. 2.893 n.a. n.a.

Aggregate,BarclaysCapital 2.120 2.270 n.a. 40 55 11.99 3.30

HighYield100,MerrillLynch 5.504 5.389 384 306 509 5.836 5.147

Fixed-RateMBS,Barclays 2.350 2.480 n.a. 30 57 8.96 2.46

MuniMaster,Merrill 1.609 1.699 6521 9.157 3.088

EMBIGlobal,J.P.Morgan 5.123 5.345 349 333 441 12.863 3.953

Sources:J.P.Morgan;RyanALM;S&PDowJonesIndices;BarclaysCapital;MerrillLynch

ConsumerRatesandReturnstoInvestor

U.S.consumerrates

A consumerrate against its

benchmarkover the pastyear

0.00

0.50

1.00

1.50

2.00%

O

2018

NDJ

2019

FMAMJJASO

t

Money market

account yields

t

Federal-funds

targetrate

Selectedrates

Moneymarketaccounts

Bankrate.comavg†: 0.77%

earn.bank 2.25%

SanDiego,CA 844-371-3276

PresidentialBank,FSB 2.25%

Bethesda,MD 800-383-6266

TABBank 2.40%

Ogden,UT 800-355-3063

VioBank 2.42%

Phoenix,AZ 888-999-9170

CFGCommunityBank 2.50%

Baltimore,MD 888-205-8388

Yield/Rate(%) 52-WeekRange(%) 3-yrchg

Interestrate Last (l)Weekago Low 0246 8High (pctpts)

Federal-fundsratetarget 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 2.03 2.10 2.03 l 2.82 1.16

Moneymarket,annualyield 0.77 0.75 0.41 l 0.78 0.49

Five-yearCD,annualyield 1.55 1.57 1.54 l 2.07 0.36

30-yearmortgage,fixed† 3.74 3.89 3.60 l 4.99 0.26

15-yearmortgage,fixed† 3.26 3.38 3.14 l 4.34 0.53

Jumbomortgages,$484,350-plus† 4.19 4.30 4.16 l 5.12 -0.06

Five-yearadjmortgage(ARM)† 4.14 4.39 3.94 l 4.89 0.94

New-carloan,48-month 4.63 4.64 3.95 l 4.81 1.62

Bankrate.com rates based on survey of over 4,800 online banks. *Base rate posted by at least 70% of the nation's largest

banks.†Excludes closing costs. Sources: FactSet; Dow Jones Market Data; Bankrate.com

Dow Jones Industrial Average

26573.72t246.53, or 0.92% last week

High, low, open and close for each of

the past 52 weeks

LastYear ago

Trailing P/E ratio

P/E estimate *

Dividend yield

All-time high

19.0723.89

17.2717.18

2.352.12

27359.16,07/15/19

20000

21000

22000

23000

24000

25000

26000

27000

O N D J F M A M J J A SO

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 movingaverage

200-day movingaverage

NYSE weekly volume, in billions of shares

0

8

16

24

O N D J F M A M J J A S

S&P500Index

2952.01t9.78, or 0.33% last week

High, low, open and close for each of

the past 52 weeks

Last Year ago

Trailing P/E ratio *

P/E estimate *

Dividend yield *

All-time high

22.6024.26

17.6017.98

1.931.81

3025.86,07/26/19

2300

2400

2500

2600

2700

2800

2900

3000

O N D J F M A M J J A S O

65-day movingaverage

200-day movingaverage

NasdaqComposite

s42.85,or0.54%

lastweek

8025

7900

7775

7650

27

September

301 2 3 4

DJ US TSM

t116.28,or-0.38%

lastweek

30600

30100

29600

29100

27

September

301 2 3 4

InternationalStockIndexes

LatestWeek 52-WeekRange YTD

Region/Country Index Close %chg Low Close High %chg

World TheGlobalDow 2964.37 –1.83 2631.29 • 3120.0 48 .4

DJGlobalIndex 395.60 –0.91 335.69 • 408.6512.8

DJGlobalexU.S. 239.35 –1.57 217.71 • 251.587.5

Americas DJAmericas 696.79 –0.41 558.25 • 716.5617.4

Brazil SaoPauloBovespa 102551.32 –2.40 82321.52 • 105817.0616.7

Canada S&P/TSXComp 16449.35 –1.47 13780.19 • 16899.6914.8

Mexico S&P/BMVIPC 43416.90 1.31 38574.18 • 48505.224.27

Chile SantiagoIPSA 3613.34 –1.17 3303.90 • 4030.52–4.0

EMEA StoxxEurope600 380.22 –2.95 329.58 • 393.1512.6

StoxxEurope50 3144.13 –3.01 2696.36 • 3255.7413.9

Eurozone EuroStoxx 372.70 –2.51 321.36 • 384.5013.5

EuroStoxx50 3446.71 –2.80 2937.36 • 3571.3914.8

Austria ATX 2923.29 –3.24 2681.25 • 3368.806.5

Belgium Bel-20 3610.64 –2.73 3164.98 • 3860.1711.3

France CAC40 5488.32 –2.70 4598.61 • 5690.7816.0

Germany DAX 12012.81 –2.97 10381.51 • 12629.9013.8

Greece AthexComposite 824.29 –5.29 593.05 • 899.9334.4

Israel TelAviv 1589.87 –1.59 1419.50 • 1657.498.6

Italy FTSEMIB 21470.44 –2.48 (^18065) • 2220417.2
NetherlandsAEX 564.59 –2.37 476.03 • 583.2615.7
Portugal PSI20 4907.87 –0.54 4587.45 • 5420.073.7
Russia RTSIndex 1311.65 –2.68 1048.71 • 1411.5323.0
SouthAfricaFTSE/JSEAll-Share 53993.87 –2.20 50434.39 • 59544.802.4
Spain IBEX35 8961.80 –2.42 8363.9 • 9581.94.9
Sweden OMXStockholm 605.12 –2.82 515.36 • 630.4115.2
Switzerland SwissMarket 9827.72 –2.09 8195.64 • 10098.5916.6
U.K. FTSE100 7155.38 –3.65 6584.68 • 7686.616.4
Asia-Pacific
Australia S&P/ASX200 6517.10 –2.96 5467.6 • 6845.115.4
China ShanghaiComposite 2905.19 –0.92 2464.36 • 3270.8016.5
HongKong HangSeng 25821.03 –0.52 24585.53 • 30157.49–0.1
India S&PBSESensex 37673.31 –2.96 33349.31 • 40267.624.4
Japan NikkeiStockAvg 21410.20 –2.14 19155.74 • 23783.727.0
Malaysia FTSEBursaMalaysiaKLCI 1557.67 –1.67 1557.67• 1777.15–7.9
Singapore StraitsTimes 3078.36 –1.51 2966.45 • 3407.020.3
SouthKoreaKospi 2020.69 –1.43 1909.71 • 2267.52–1.0
Taiwan TAIEX 10894.48 0.60 9382.51 • 11096.3012.0
Source:FactSet;DowJonesMarketData
Financial Flashback
The Wall Street Journal,Octobe r7,1 997
Federal ExpressCorp.said it agreedto acquire
CaliberSystemInc., owner of package-deliveryunit
RPS Inc., inastock swap valuedatabout$2.7 billion.
MajorU.S.Stock-MarketIndexes
LatestWeek 52-Week %chg
High LowClose Netchg %chg Low Close(l) High %chg YTD 3-yr.ann.
DowJones
IndustrialAverage 27046.2125743.4626573.72 -246.53 -0.92 21792.20 l 27359.16 0.5 13.9 13.5
TransportationAvg 10484.819708.0910029.84 -311.43 -3.01 8637.15 l 11206.77-10.5 9.4 7.5
UtilityAverage 882.37860.90 880.50 4.04 0.46 692.00 l 880.5 20.0 23.5 10.9
TotalStockMarket 30610.3629210.1330176.91 -116.28 -0.38 24126.04 l 31091.22 1.4 17.3 10.6
Barron's400 677.62658.43 670.40 -4.26 -0.63 571.68 l 747.56-10.3 10.0 6.9
NasdaqStockMarket
NasdaqComposite 8062.507700.00 7982.47 42.85 0.54 6192.92 l 8330.21 2.5 20.3 14.7
Nasdaq100 7821.727463.57 7754.10 72.52 0.94 5899.35 l 8016.95 4.8 22.5 16.9
S&P
500Index 2992.532855.94 2952.01 -9.78 -0.33 2351.10 l 3025.86 2.3 17.8 11.1
MidCap400 1950.061850.80 1903.79 -18.95 -0.99 1567.40 l 1986.8 -3.3 14.5 7.5
SmallCap600 958.34906.71 930.46 -15.85 -1.67 793.86 l 1020.67 -8.8 10.1 7.4
OtherIndexes
Russell2000 1539.091462.22 1500.70 -19.78 -1.30 1266.93 l 1632.11 -8.1 11.3 6.6
NYSEComposite 13038.1312482.0212831.55 -140.43 -1.08 10769.83 l 13239.87 -1.2 12.8 6.5
ValueLine 524.90496.43 509.82 -8.91 -1.72 446.06 l 568.12-10.3 7.9 2.1
NYSEArcaBiotech 4273.624060.44 4218.04 15.14 0.36 3890.37 l 5261.79-18.5 -0.1 8.1
NYSEArcaPharma 590.66568.81 585.39 0.49 0.08 535.91 l 612.45 -1.2 2.9 4.5
KBWBank 101.0093.51 97.22 -3.04 -3.03 80.78 l 107.33 -8.8 13.3 10.8
PHLX§Gold/Silver 91.3787.48 91.11 0.04 0.04 61.84 l 101.76 39.1 28.9 3.0
PHLX§OilService 66.6761.02 62.81 -2.97 -4.51 59.66 l 154.64-58.7 -22.1-27.0
PHLX§Semiconductor1587.971502.73 1574.39 31.52 2.04 1069.39 l 1622.02 19.6 36.3 23.9
CBOEVolatility 21.4615.79 17.04 -0.18 -1.05 12.01 l 36.07 15.0 -33.0 7.7
§NasdaqPHLX Sources:FactSet;DowJonesMarketData
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