Some warning signs

The IPO geyser continues to spew money - with 8 deals raising $580 million last week, bringing to $2.4 billion the total raised through IPOs in the past four weeks. But leading indicators may be beginning to point toward a waning of the biotech love-in: Of the 8 IPOs that priced last week, 3 raised less than they had hoped and only 4 traded up beyond 15 percent in the aftermarket.

"I think we're starting to see some saturation," said Chase H&Q banker Vivek Jain. "Premiums are coming down, deals are getting trimmed and you're not seeing the deals trade up 30 to 40 percent." ...