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Stock Market & Financial Investment News

News Breaks
March 27, 2013
12:14 EDTCLF, AOL, MFRM, LOGM, RAXOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday though well off their worst levels. The market dropped sharply at the open, with the early weakness being attributed to continued worries about Europe, where Cyprus has yet to reopen its banks and Italy is still struggling to form a new government. The selling soon pushed the Dow to triple digit losses, but the Dow and the other averages cut their losses by more than half by noon. In addition to the impending holiday weekend, the end of the quarter is approaching and investment managers may be making portfolio adjustments today and tomorrow since they will be unable to on Friday... ECONOMIC EVENTS: In the U.S., pending home sales dipped 0.4% in February from the prior month, compared to expectations for a 0.3% decline. On a year-over-year basis, however, pending sales were up 5%. In Europe, Italian benchmark bonds fell after the nation's Democratic Party leader Pier Luigi Bersani said there was no possibility of a broad coalition to resolve the deadlock caused by last month's elections... COMPANY NEWS: Cliffs Natural Resources (CLF) was in the sights of a number of Wall Street analysts, as Morgan Stanley cut its rating on the stock to Underweight from Equal Weight and Credit Suisse lowered its price target on the stock to $10 from $30. Goldman Sachs upgraded Cliffs due to valuation, but that only brought the firm's rating up to a Neutral from its prior Sell recommendation. Shares of Cliffs sank 15% following the flurry of notes to investors... MAJOR MOVERS: Among the notable gainers were Mattress Firm (MFRM), up 10% following its earnings report, and AOL (AOL), up over 7% after being upgraded at Barclays. Among the noteworthy losers was LogMeln (LOGM), which slid 12% near noon to give back some of the 20% advance it garnered yesterday following a positive ruling in a patent lawsuit. Also lower were shares of Rackspace (RAX), which fell 4% after CLSA initiated coverage of the stock with an Underperform rating and $52 price target... INDICES: Near noon, the Dow was down 44.94, or 0.31%, to 14,514.71; the Nasdaq was down 6.03, or 0.19%, to 3,246.45; and the S&P 500 was down 4.09, or 0.26%, to 1,559.68.
News For CLF;AOL;MFRM;LOGM;RAX From The Last 14 Days
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September 15, 2014
10:56 EDTRAXOptions with decreasing implied volatility
Options with decreasing implied volatility: TRW ULTA GTAT FIVE RH LULU LE RAX ARCP BKS
09:59 EDTRAXOn The Fly: Analyst Downgrade Summary
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09:16 EDTRAXOn The Fly: Pre-market Movers
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06:53 EDTRAXRackspace downgraded to Neutral from Overweight at JPMorgan
JPMorgan downgraded Rackspace (RAX) to Neutral citing a balanced risk/reward following last week's rally in shares. The firm is skeptical of a potential takeover by CenturyLink (CTL) and keeps a $37 price target for the stock. JPMorgan says the current valuation already assumes a deal happens.
September 12, 2014
16:44 EDTRAXMarket ends week lower as investors fret over Fed statement
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11:03 EDTRAXOptions with increasing implied volatility
Options with increasing implied volatility: ADHD VNET AVNO RAX VALE NLY EWZ BBBY SYY GGP
September 11, 2014
11:29 EDTRAXOptions with increasing implied volatility
Options with increasing implied volatility: VNET AVNR GPRO RAX FTR JDSU PSEC APD SYY GGP
September 10, 2014
11:23 EDTRAXOptions with increasing implied volatility
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08:08 EDTCLFCliffs Natural amends credit facilty to allow for $200M share repurchase program
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September 9, 2014
12:08 EDTRAXOptions with increasing implied volatility
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08:27 EDTRAXCenturyLink could buy Rackspace for under $50/share, says Citigroup
Citigroup believes CenturyLink (CTL) could "financially digest" a potential acquisition of Rackspace (RAX) under $50 per share, using up to 50% in cash. Citi says that based on its initial basis, it would take a neutral view for a possible buyout under $40 per share, while adding that CenturyLink could trade lower if it were to pay more than $50 for Rackspace. Citi has a Neutral rating on CenturyLink with a $40 price target.
07:52 EDTRAXCenturyLink could be interested in Rackspace at right price, says UBS
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September 8, 2014
16:18 EDTRAXOn The Fly: Closing Wrap
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11:24 EDTRAXRackspace trades higher following report CenturyLink in talks to buy company
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10:58 EDTRAXCenturyLink would need to issue stock, raise debt to buy Rackspace, Re/code says
Following a Bloomberg report that said CenturyLink (CTL) is interested in buying Raxspace (RAX), Re/code's Arik Hesseldahl noted that CenturyLink has "practically no cash" and would have to issue stock and likely take on "significant debt" to make such an acquisition, though the author also noted that CenturyLink has a history of structuring such deals. However, Hesseldahl believes Rackspace remaining independent is still the "more likely scenario" than the company being bought. Reference Link
10:24 EDTRAXRackspace moves to resistance test on takeover speculation report
Bloomberg yesterday said in a report that sources indicated CenturyLink (CTL) was looking to acquire Rackspace Hosting (RAX). At the current price of $39.21, the stock is just under the $40 level which has been overhead resistance in the trading range in place since late last year. Support is at $38.28. A breakout above $40 would be bullish for future price.
09:12 EDTRAXOn The Fly: Pre-market Movers
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08:58 EDTRAXRackspace risk/reward remains compelling, says Wells Fargo
Wells Fargo says that even with some takeout speculation being priced into Rackspace (RAX)shares today following reports that CenturyLink (CTL) is in talks to buy the company, the risk/reward on the stock remains compelling. Wells believes Rackspace either gets acquired at a premium or stays independent and announces a share buyback of $900M. The firm keeps an Outperform rating on the name.
08:36 EDTRAXRackspace Hosting volatility expected to move on acquisition report
Rackspace Hosting (RAX) volatility is expected to move on CenturyLink (CTL) looking to acquire says Bloomberg, citing sources. Overall option implied of 37 is below its 26-week average of 46 according to Track Data, suggesting decreasing price movement.
08:07 EDTAOLAOL introduces Road Devil Interstitial for Mobile
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