Ticker Talk

Kozmo.com, the Internet service that provides home delivery of food, videos and other consumer products, has decided to postpone its initial public offering, at least until early next year, a company official said. The official, who spoke on condition of anonymity, also said Kozmo is laying off between 30 and 40 people on the heels of larger cuts last week. In other IPO news, Nextel Communications Inc.’s (NXTL) Nextel International Inc. unit, which sells wireless telephone service and has related investments in eight countries, filed for a $920-million initial stock sale. . . . The National Assn. of Securities Dealers approved rules Thursday aimed at curbing broker-dealers from gaining special access over small investors to stock offerings. Under the NASD rules, which must now be approved by the Securities and Exchange Commission, broker-dealers would be barred from investing in any new offerings, a toughening-up of earlier standards that limited them from buying into certain “hot” offerings. Individuals who trade stocks have long bemoaned the fact that access to initial public offerings is difficult, claiming shares of hot new companies are routinely allocated to Wall Street insiders. . . . Brazil’s debt rating could be upgraded, Moody’s Investors Service said Thursday, sparking a rally in stocks and bonds as the country’s recovery from last year’s currency devaluation gains momentum. The move by Moody’s builds on surging investor confidence in Latin America’s No. 1 economy a year and a half after the real’s tumble. An export-led recovery is entering its fourth quarter of expansion, helping the government boost tax receipts and narrow its budget deficit. Foreign investment is pouring in, keeping the real steady and inflation in check. The benchmark Sao Paulo stock index rose 2.2% as investors bet that lower borrowing costs will boost company earnings.