Historic Alibaba IPO Not for Everyone

ABC News' John Kapetaneas reports:

Morning Money Memo

All eyes will be on Alibaba's big opening day on the market this morning. The Chinese e-commerce giant is expected to raise $21.88 billion during its IPO, making it the largest public offering in history, valuing the company at $168 billion. Shares will begin trading this morning at $68 dollars a share, an increase from the expected high range of $66 per share. While tech markets and early-stage investors are clamoring over what will now be one of the 40 largest companies in the world, the company's unorthodox corporate structure and high valuation remain a sticking point for some investors. "Presently, it will not be on our buy list, even after the IPO," said value investor Dan Neiman, portfolio manager for the Neiman Large Cap Value Fund. "I think a prudent investor would wait and see what happens over the short term, and then possibly dip their toe into that investment."

Let the 2014 smartphone frenzy begin. Anxious consumers staked out Apple stores nationwide overnight in hopes of getting their hands on the new iPhone 6 and large-screen iPhone 6 Plus. Not one to be outdone, Samsung announced the release of its next generation phablet, the Galaxy Note 4, which begins preorder today for October release. The two companies have long battled over market share and intellectual property. Apple stock is up slightly in pre-market trading.

In an overwhelming turnout, Scotland voters chose overnight to remain part of the United Kingdom, in a close but decisive 55 percent to 45 percent margin. European markets are mixed this morning, while the British pound moved higher against the euro on the news. Markets in Japan and Hong Kong are seeing triple-digit gains despite the Asian Dow showing the region slightly lower. U.S. futures are up this morning. Gold is down $3.50 to $1,223 per ounce. Crude oil is down 0.5 percent to $92.61 per barrel.

Oracle founder Larry Ellison announced Thursday that he will step down as CEO. The tech guru, 70, and prominent public figure will turn over the reins to his to his two co-presidents, Safra Catz and former Hewlett-Packard executive Mark Hurd. Ellison founded the software company in 1977; it is valued at $185 billion. Ellison follows other influential founders to turn over the chief executive office, including Bill Gates in 2000 and Steve Jobs in 2011. Oracle shares are down slightly in after-hours trading.

This weekend's box office is expecting to see its highest revenue in nearly three months, after a mostly lackluster summer season. Fox's "The Maze Runner" is expected to bring in over $40 million in its opening weekend. Liam Neeson's "A Walk Among the Tombstones" and comedy "This Is Where I Leave You" are also expected to gross more than $15 million apiece. ?