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Stock Market & Financial Investment News

News Breaks
March 27, 2013
12:14 EDTRAX, AOL, LOGM, CLF, MFRMOn 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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November 11, 2014
09:59 EDTCLFCliffs Natural calls active
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09:50 EDTCLFRumor: Cliffs Natural moves up on renewed takeover chatter
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09:37 EDTRAXActive equity options trading
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08:42 EDTRAXRackspace buyback likely to push shares higher, says Needham
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08:13 EDTRAXRackspace reported strong Q3 results, says Oppenheimer
Oppenheimer believes that Rackspace's Q3 results showed very strong trends, and it thinks the company's revenue/EBITDA growth can reach high teen percentage levels in 2015-2016. The firm keeps a $62 price target and Outperform rating on the shares.
07:51 EDTRAXRackspace price target raised to $50-$52 from $42-$46 at Wells Fargo
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November 10, 2014
18:32 EDTRAXOn The Fly: After Hours Movers
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17:10 EDTRAXRackspace CEO says buyback an example of confidence in future
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17:08 EDTRAXRackspace CEO says management 'feels good' about Q4 pipeline
16:50 EDTRAXRackspace CEO says company is committed to revenue growth, margin
Comments provided during Q3 earnings conference call.
16:42 EDTRAXRackspace up 2% to $38 after Q3 results, $500M share buyback
16:40 EDTRAXRackspace says joined Microsoft Cloud OS Network
Rackspace (RAX) said it expanded its Managed Private Cloud product portfolio and joined the Microsoft (MSFT) Cloud OS Network, adding Fanatical Support for the Microsoft Cloud Platform. It stated, "This includes expertise and support for Windows Server with Hyper-V, System Center and Azure Pack. The offering is now in general availability in all U.S. data centers providing customers with SLA-backed management across the underlying infrastructure, guest operating systems, and select applications including Microsoft Exchange, SharePoint and Lync."
16:39 EDTRAXRackspace says Q4 revenue outlook includes negative FX impact
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16:37 EDTRAXRackspace announces $500M share repurchase plan
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16:10 EDTRAXRackspace sees Q4 adjusted EBITDA margin 33%-35%
16:09 EDTRAXRackspace sees Q4 EPS $469M-$476M , consensus 476.51M
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16:08 EDTRAXRackspace reports Q3 EPS 18c, consensus 16c
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15:26 EDTRAXNotable companies reporting after market close
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13:47 EDTRAXRackspace technical comments before earnings
The shares have broadly outperformed in the prior three months, trading up over 16%. Since a bearish gap down in September, the stock has been trending up. A look at a 1-year chart shows the importance of the $40 level. It has been touched as resistance several times over that interval, but without being able to break through for long. On stronger than expected news, a move to the $40 area would seem probable. If the news or outlook is sufficiently strong, there could be a breakout above $40. Such a breakout given the length of time the $40 area has been resistance would be long-term bullish for price. Additional upside objectives above $40 would be at $42.09 and then at $43.83. If the news is worse than expected, there are several points of support that could be tested as downside objectives: $34.70, $32.36, and $30.74. A move down through all of the levels noted would retrace the advance made in recent months nearly completely.
09:20 EDTCLFNucor unlikely to partner on Cliffs Natural asset, says Bernstein
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