Ticker Talk

Webvan Group Inc. agreed to delay its $325-million initial public offering, which had been planned for this week, after the SEC raised questions about publicity regarding the deal. “In view of the significant publicity surrounding the Webvan offering, the SEC and Webvan have agreed to a cooling-off period,” said a spokeswoman for underwriter Goldman Sachs & Co. SEC concerns involved “bullish” information about recent sales for the Foster City, Calif.-based online grocer that were discussed in presentations to institutional investors yet weren’t in the Webvan prospectus, the Wall Street Journal reported. . . . DLJdirect Inc. and Fidelity Investments’ brokerage unit said they will offer up to four hours of extra stock trading within the next month, becoming the latest online brokers to stretch their hours. . . . The New York Stock Exchange and the Nasdaq Stock Market should include a one-hour break from trading if they extend hours next year, a committee appointed to study the plan is expected to say in a report to be released today. An hourlong halt after 1 p.m. Pacific time “would allow time for news to be released and absorbed by the public,” said a draft of the report. . . . The NASD may vote in December on a proposal to convert Nasdaq into a for-profit company, a spokesman said. NASD’s board agreed Thursday to continue examining detailed questions about how to structure private placements of Nasdaq stock to brokerages, companies and institutional investors. A panel led by board member Frank Baxter, chairman of Jefferies Group Inc., is examining the question.