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Stocks Head Into Second Quarter Amid a Flurry of IPOs
29 Mar 2012 EDT - CNBC.com
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He expects the deal activity to continue, and it is in no way a ‘hot’ market. “The market is taking the ones it wants, and the other ones they take them out in the back and shoot them. It says that the investors understand what’s happening in the market and they’re not likely to be duped as they were in previous market cycles... I do believe that there’s still very tender and unhealed scars from what we went through 10 years ago,” said Menlow.

While he expects the second quarter to see a fair number of deals, when Facebook looms large with its offering, activity could slow down temporarily.

“The Facebook will suck the oxygen out of the corporate finance market. I think just before and just after there will be a diminished quantity of deals that will come to market,” Menlow said. Analysts say Facebook’s so far $5 billion offering to rise to as much as $10 billion.

Stocks Thursday recovered from steep losses as quarter end buying lifted the market in afternoon trading. The Dow was up 18 at 13,145, and is now up 7.6 percent for the first quarter, its best first quarter since 1998.

The S&P 500 , off 2 at 1,403, is now up 11.6 percent for the quarter, its biggest quarterly gain since the third quarter of 2008. The Nasdaq , down 9 at 3,095 Thursday, is up 18.8 for the quarter, its best quarter since the second quarter of 2009.

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