IPO Market Remains Quiet, But Some Hot Deals Are Expected

NEW YORK (Dow Jones)--Investors continue to react coolly to initial public offerings, as evidenced by aftermarket stock performance, which often closely tracks the opening price.

The general lack of enthusiasm for newly public companies remains because of a pronounced lack of performance in the small-capitalization market and a preference for big, well-seasoned companies that have a record of earnings.

Underwriters are still bringing companies to market, though the pace is considerably slower than it was in 1996, when making money in the IPO market was almost as easy as shooting fish in a barrel.

This week's top picks based on a survey of Wall Street analysts by John E. Fitzgibbon Jr., editor of the IPO Aftermarket, include:

- Amazon.Com Inc. (AMZN), the Seattle Internet bookstore, plans to sell 2.5 million shares at $10 to $12 each through underwriters led by Deutsche Morgan Grenfell Inc.

- Rambus Inc. (RMBS), a Mountain View, Calif., semiconductor technology firm, plans to sell 2.75 million shares at $8 to $10 each through underwriters led by Morgan Stanley & Co.

- LHS Group Inc. (LHSG), an Atlanta telecommunications concern, plans to offer 4 million shares at $12 to $14 each through underwriters led by Goldman Sachs & Co.

- Ocwen Asset Investment Corp., West Palm Beach, Fla., plans to offer 12.5 million shares at $14 to $16 through underwriters led by Friedman Billings Ramsey & Co.