In June, Xunlei had filed for an initial public offering of
up to $200 million and had seen pricing its American Depositary
Shares at $14-$16 each.The company, which makes software to increase download
speeds, had expected to list its shares on Nasdaq under the
symbol “XNET.” Xunlei planned to use proceeds from the offering
to invest in technology, infrastructure and product development
and to acquire digital media content, according to its IPO
prospectus.Sean Shenglong Zou, Xunlei’s co-founder, is the company’s
biggest shareholder with a 27.5 percent stake, while Google owns
2.8 percent of the shares.
* Alcoa drops after quarterly profit misses estimate* Pepsi gains after profit tops view* Futures up: Dow 105 pts, S&P 11.8 pts, Nasdaq 26 ptsBy Chuck MikolajczakNEW YORK, Oct 12 (Reuters) - U.S. stocks were set for a
higher open on Wednesday, putting the S&P 500 on track for its
sixth day of gains in the past seven on optimism Slovakia would
reach a deal to expand the euro zone rescue fund.Parties in the outgoing Slovak government began talks with
the opposition to reach a deal on ratifying a plan to
strengthen the euro zone’s rescue fund. Slovakia is the last
country in the 17-member currency zone left to approve the
plan.German Chancellor Angela Merkel weighed in, saying she
expected full ratification by the European Union summit on Oct.
23.”It’s like no bad news, we get to go up as long as you
don’t see any horror stories,” said Frank Lesh, a futures
analyst and broker at FuturePath Trading LLC in Chicago. “At
the moment it appears as if Europe has at least contained the
crisis.”S&P 500 futures rose 11.8 points and were above fair
value, a formula that evaluates pricing by taking into account
interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures climbed
105 points, and Nasdaq 100 futures gained 26 points.Alcoa Inc shares fell 2.7 percent to $10.02 in
premarket trade a day after the largest U.S. aluminum producer
said third-quarter profit was lower than the second quarter and
fell short of already-reduced expectations due to a slump in
global metals prices.PepsiCo Inc rose 1.4 percent to $61.80 premarket
after the soft drink and snacks maker reported slightly
better-than-expected earnings, helped by international growth
and the acquisition of a Russian beverage company, and affirmed
its full-year target.Investors will also keep an eye on the Federal Open Market
Committee’s minutes from its Sept. 20-21 meeting, to be
released at 2 p.m. EDT. (1800 GMT)Liz Claiborne Inc surged 22.6 percent to $6.25
after the apparel company said it plans to sell several brands,
including its namesake line, and change the company’s name.Research In Motion Ltd’s U.S.-listed
shares fell 1.2 percent to $24.13 after the BlackBerry maker
said its service outage has spread to North and South America.
Millions of customers across four continents were already
without email, messaging and browsing service.
