Just like opening day at the ballpark, investing in new IPOs holds the potential for shining promise and crushing disappointment. If simply cheering on your favorites from the sidelines isn't enough, at least be careful about investing in this league. Many new issues swing for the fences during their first trading days, only to slump once the marketing hype has given way to mundane earnings reports.

Don't commit an error by stocking your entire portfolio with rookies. Allocate just a small percentage of your risk capital to IPOs. Scout your potential phenoms carefully, and be choosy about composing your own rotisserie league. Investing with an eye for a season extending long beyond opening day will reward you with quality players capable of staying in the game. With that in mind, we offer our Foolish scouting report of the latest IPOs.

Last week's games
Only one game was played last week, and it was a winner:

New Oriental Education & Technology

  • Ticker: NYSE: EDU
  • Industry: Chinese educational-services provider
  • Deal terms: $15 per American depositary share, above its expected range; 7.5 million shares
  • Lead managers: Credit Suisse, Goldman Sachs, and Piper Jaffray
  • Opening day: Sept. 7; opened at $22 and closed at $20.88; 15% gain
  • Bleacher banter: Strong demand after a summer IPO slump; scored the third-best opening day performance yet this year; deal was slipped in ahead of a Sept. 8 deadline, after which Chinese companies needed permission before offering their IPOs outside the country.

On deck/game of the week
No IPOs are slated for the coming week. Busy bankers are roaming the country launching road shows to prepare for a busy schedule of deals set for the following week.

Warming up in the bullpen

  • Brand Energy & Infrastructure, an industrial services provider, announced proposed deal terms of 10.75 million shares, offered at $19-$21 per share. The lead managers are Credit Suisse, JP Morgan, and Morgan Stanley.

  • CBRE Realty Finance, a REIT, announced proposed deal terms of 12.5 million shares, offered at $15-$17 per share. The lead managers are Credit Suisse, Deutsche Bank, Citigroup, Wachovia, and JMP Securities.

  • Hawkeye Holdings, an ethanol producer, announced proposed deal terms of 15.9 million shares, offered at $21-$23 per share. The deal is expected to price the week of Sept. 18, and the lead managers are Credit Suisse, Morgan Stanley, and Banc of America.

  • ImaRX Therapeutics, a biopharmaceutical company, announced proposed deal terms of 5 million shares, offered at $10-$12 per share. The lead managers are CIBC World Markets, Jefferies, and First Albany Capital.

  • Light Sciences Oncology, a cancer-treatment developer, announced proposed deal terms of 5.25 million shares, offered at $14-$16 per share. The lead managers are Cowen, Wachovia, Jefferies, and Thomas Weisel.

  • Shutterfly, an online photo-services provider, announced proposed deal terms of 5.8 million shares, offered at $13-$15 per share. The lead managers are JP Morgan, Piper Jaffray, and Jefferies.

  • Warner Chilcott Holdings, a pharmaceutical company, announced proposed deal terms of 70.6 million shares, offered at $17-$19 per share. The lead managers are Goldman Sachs, Credit Suisse, JP Morgan, and Morgan Stanley.

Sent down to the minors
No companies announced postponements of their offerings.

Minor-league developments
Get ready, get set . not yet! The latest filings announced during the past two weeks include:

  • Clean Energy Fuels
    • Proposed ticker: Nasdaq: CLNE
    • Industry: Alternative energy provider
    • Proposed deal terms: Not yet determined
    • Lead managers: WR Hambrecht and Simmons
    • Filed: Sept. 6

  • Isilon Systems
    • Proposed ticker: Nasdaq: ISLN
    • Industry: Computer storage systems maker
    • Proposed deal terms: Not yet determined
    • Lead managers: Morgan Stanley, Merrill Lynch, RBC Capital Markets, and Needham
    • Filed: Sept. 1

  • Mindray Medical International
    • Proposed ticker: NYSE: MR
    • Industry: Chinese medical-device maker
    • Proposed deal terms: Not yet determined
    • Lead managers: Not yet determined
    • Filed: Sept. 6

  • Rosetta Genomics
    • Proposed ticker: Nasdaq: ROSG
    • Industry: Therapeutic-products developer
    • Proposed deal terms: 3 million shares, $11-$13 per share
    • Lead managers: CE Unterberg Towbin, Oppenheimer, and Maxim Group
    • Filed: Sept. 1

Disabled list
No companies announced withdrawals of their offerings.

Current champions
Meet our current 2006 champs. Among companies that went public this calendar year, these companies' percentage returns from their offer prices to last week's closing price rank them as the top five players.

Company

Return

Description

IPO Date

Chipotle Mexican Grill (NYSE:CMG)

117.8%

Mexican-restaurant operator

1/25/06

Omrix Biopharmaceuticals (NASDAQ:OMRI)

76.5%

Medical-products maker

4/21/06

Pacific Airport Group (NYSE:PAC)

64.3%

Mexican airport operator

2/24/06

CTC Media
 (NASDAQ:CTCM)

61.1%

Russian television network operator

6/1/06

Techwell
 (NASDAQ:TWLL)

56.3%

Semiconductor manufacturer

6/21/06


Current benchwarmers
Now meet our current 2006 benchwarmers -- that's nicer to say than "losers," isn't it? Among companies that went public this calendar year, these companies' percentage returns from their offer prices to last week's closing price rank them as the bottom five players.

Company

Return

Description

IPO Date

Traffic.com
(NASDAQ:TRFC)

(62.5%)

Traffic information provider

1/25/06

SGX Pharmaceuticals (NASDAQ:SGXP)

(61.7%)

Biotech company

2/1/06

Digital Music Group
 (NASDAQ:DMGI)

(57.6%)

Digital-music provider

2/2/06

Cardica
 (NASDAQ:CRDC)

(54.5%)

Medical-device maker

2/3/06

Vonage
 (NYSE:VG)

(53.8%)

Broadband-telephone service provider

5/24/06


Groupies and fan clubs
If you don't want to declare your loyalties for specific players but still want to enjoy the action, consider subscribing to an IPO-focused mutual fund or exchange-traded fund. Of course, do your scouting homework here, too, and make sure you read their prospectuses before you buy season tickets.

Last week, the First Trust IPOX 100 (AMEX:FPX), an ETF, fell 1.6%, more than the IPO Plus Aftermarket (FUND:IPOSX), a mutual fund, which reversed its previous week's gain and lost 1%. The Russell 2000 slipped 1.8%, while the Nasdaq declined 1.2%.

Keep reading the Fool to see how your favorite players perform as they mature!

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Sources for the information in this column include Renaissance Capital's IPOhome.com, SEC filings, and Reuters.

Fool contributor S.J. Caplan roots for the Cleveland Indians when her husband is watching and for the Boston Red Sox when he leaves the room. She holds no financial position in any companies or funds mentioned here. The Fool has a disclosure policy.