IPO Window Tougher to Squeeze out of as U.S. Markets Struggle

(Reuters) – One U.S. company postponed its IPO and another cut the price range on Wednesday as tumultuous trading continued in markets.

WageWorks, which runs employee benefit programs, postponed indefinitely its $49 million initial public offering due to volatile market conditions, an underwriter said.

Carbonite, which sells Web-based computer backup products, cut the price range of its IPO by a third to $10 to $11 per share from $15 to $17 per share.

So far this week, more than half of the 12 deals that were scheduled to price have run into problems.
The S&P 500 is down nearly 18 percent since a peak at the start of May. Concerns about the U.S. economy and high levels of public debt in Europe have lead to volatile trading over the last two weeks.

(Reporting by Clare Baldwin, editing by Dave Zimmerman)