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IPOs lose flare on Wall St.
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July 12, 1996: 3:34 p.m. ET
Tech, health care stocks to blame
From Correspondent Sean Callebs
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NEW YORK (CNNfn) - Anyone looking for signs the glory days of the market are ebbing need look no further than what's going on with initial public offerings. After a white-hot run, IPOs are turning cold, due in large part to deflated technology and health care stocks.
In the past month, at least 30 IPOs have been scrapped or put on hold. Among them delays are Gyncor, Masimo, Norian, and Avteam, all medical companies.
Many Analysts tracking IPOs say Wall Street also is being swept by unconfirmed reports of two more high-profile postponements: Hambrecht & Quist, the investment bank specializing in high tech deals, and Wired magazine.
"Wired, got a lot of fanfare, rumor has it nobody showed at their roadshow," said Tony Perkins, editor of Red Herring magazine. "So they have postponed their IPO. I think companies that were on the lower rung of the IPO list fell off the cliff and probably won't resurface until September."
Internet IPOs gave the Nasdaq a lift earlier this year, just as semiconductor stocks were on the wane. But with the IPO market cooling and medical and technology stocks taking a hard hit, Ryan Jacob, director of research for IPO Value Monitor, say there may be nowhere to look to boost the market. (247K WAV) or (247K AIF)
Analysts say most of the really strong IPOs already have been unveiled and that the quality of the deals deteriorated in the last two or three months, even as the markets were climbing to all-time highs. 
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