 | Good afternoon Bit |  |  | As the Nasdaq Composite index continued its week-long tailspin, tech investors and analysts are wondering what the stock plunge could mean for the pending IPOs of companies like Groupon and Zynga.
The coming week, which has about a dozen IPOs scheduled to price, will be a good test of the severity of the selloff, according to Nick Einhorn, an analyst at Connecticut-based IPO research house Renaissance Capital. "Less mature, less profitable companies could have a tougher time going public," Einhorn told Reuters.
If there was to be another recession, writes Investor Place's Tom Taulli, "the IPO market will freeze up. It will mostly be only standout companies – such as Zynga and Facebook – that will get traction. A company like Groupon, which has substantial losses, may have to delay its offering or cut the valuation."
Groupon, which more than doubled subscribers this year to 115 million, plans to abandon the use of a controversial financial measure it once touted as a good indicator of performance, two sources with knowledge of the situation said.
Hackers competing at the world's largest hacking convention in Las Vegas found it ridiculously easy in some cases to trick employees at some of the largest U.S. companies to reveal information that can be used in planning cyber attacks against them.
Will it be more bad news for Cisco Systems? The IT giant reports its quarterly results on Wednesday and investors expect a weak outlook after Juniper Networks and Brocade Communications Systems slashed their forecasts.
Almost half the workers in Verizon Communications' wireline telecommunications business went on strike on Sunday as negotiations for a new labor contract failed.
Expect to see RIM's first QNX phone in the first quarter of 2012, writes Boy Genius Report.
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