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Stock Market & Financial Investment News

News Breaks
March 27, 2013
12:14 EDTLOGM, CLF, MFRM, RAX, AOLOn 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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May 12, 2015
07:18 EDTAOLAOL CEO says Verizon deal happened 'in natural way,' no auction held
AOL (AOL) CEO Tim Armstrong continues speaking on CNBC.
07:12 EDTAOLAOL CEO expects Verizon to take 'open approach' to content
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07:09 EDTAOLAOL CEO says will 'certainly' buy Verizon stock
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07:08 EDTAOLAOL CEO says company has 'shared vision' with Verizon
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07:06 EDTAOLAOL volatility elevated into Verizon acquiring for $4.4B
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07:03 EDTAOLVerizon to acquire AOL for $50 per share, an estimated total value of $4.4B
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07:01 EDTAOLVerizon to acquire AOL for $50 per share, an estimated total value of $4.4B
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07:01 EDTAOLVerizon to acquire AOL for $50 per share, or $4.4B
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06:10 EDTRAX, RAXRackspace downgraded to Outperform from Buy at CLSA
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06:10 EDTRAXRackspace downgraded to Equal Weight from Overweight at Morgan Stanley
May 11, 2015
19:15 EDTRAXOn The Fly: After Hours Movers
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16:04 EDTRAXRackspace sees Q2 revenue growth 1.5%-2.5% at constant currency
The company said, "For the second quarter of 2015, Rackspace expects revenue to grow between 1.5 percent and 2.5 percent on a constant currency basis and adjusted EBITDA margins to be between 32 percent and 34 percent."
16:03 EDTRAXRackspace reports Q1 EPS 20c, consensus 20c
Reports Q1 revenue $480.2M, consensus $481.57M.
15:00 EDTRAXNotable companies reporting after market close
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11:51 EDTAOLCLSA, UBS diverge widely on AOL following Q1 results
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11:16 EDTRAXRackspace volatility increases into Q1 and outlook
Rackspace May call option implied volatility is at 92, June is at 40, September is at 39; compared to its 90-day average of 37, suggesting large near term price movement into the expected release of Q1 results today.
10:38 EDTLOGMLogMeln management to meet with Piper Jaffray
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09:59 EDTAOLOn The Fly: Analyst Downgrade Summary
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08:39 EDTAOLAOL well positioned to capitalize on industry shifts, says UBS
UBS believes AOL is well positioned to capitalize on the shifts to video display advertising, deep brand marketing services on digital properties, and the trend toward programmatic buying in the coming years. UBS reiterated its Buy rating and $50 price target on AOL shares.
07:42 EDTAOL, AOLAOL downgraded to Sell from Underperform at CLSA
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