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News For EQIX;RAX From The Last 14 Days Check below for free stories on EQIX;RAX the last two weeks. |
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| June 18, 2013 | | 09:33 EDT |  | RAX | Rackspace likely to announce Fidelity as OpenStack customer, says Cowen
 Subscribe for More Information | | | June 13, 2013 | | 09:04 EDT | | RAX | Rackspace underperforming in OpenStack competition, says Pacific Crest
Subscribe for More Information | | | June 12, 2013 | | 14:30 EDT | | RAX | Rackspace has slight negative readthrough from Amazon cut, says Wells Fargo
Subscribe for More Information | | | June 10, 2013 | | 14:03 EDT | | EQIX | Equinix mentioned positively at Cowen
Subscribe for More Information | | | 08:44 EDT | | EQIX | Equinix very likely to convert to REIT by January 2015, says Wells Fargo
After speaking with an expert on REIT conversions, Wells Fargo does not believe that the IRS is looking to completely overhaul the REIT system. The firm believes that Equinix's risk/reward ratio is favorable and it reiterates an Outperform rating on the stock. | | | June 7, 2013 | | 16:26 EDT |  | EQIX | On The Fly: Closing Wrap
Subscribe for More Information | | | 14:39 EDT | | EQIX | Shares poised to finish week higher as jobs report reassures investors
Subscribe for More Information | | | 12:57 EDT | | EQIX | On The Fly: Midday Wrap
The Wall Street averages were all up about 1% near midday after the monthly jobs report beat forecasts. ECONOMIC EVENTS: In the U.S., the Labor Department reported employers added 175K jobs in May, beating expectations for 163K added jobs. The unemployment rate rose slightly to 7.6% in May from 7.5% in April, with the uptick attributed to more people entering the workforce. COMPANY NEWS: TiVo (TIVO) confirmed it had settled a patent lawsuit with Google's (GOOG) Motorola unit, Cisco (CSCO) and Time Warner Cable (TWC), as reported by media outlets yesterday. The company also doubled its stock buyback authorization, but TiVo shares, which had been higher yesterday on the initial reports, fell over 17% as the amount of money the company received in the deal fell short of analyst expectations. MAJOR MOVERS: Among the notable gainers were JinkoSolar (JKS) and Thor Industries (THO), which both gained over 10% following their earnings reports. Also higher were shares of Yum! Brands (YUM), which rose nearly 3% after UBS upgraded the stock to Buy. Among the losers were a number of companies that had hoped to convert to real estate investment trusts after the IRS formed a group to study issues relating to REIT conversions. Notably, Iron Mountain (IRM) fell almost 16%, Copart (CPRT) dropped over 6%, and Equinix (EQIX) slid over 5%. INDICES: Near 1 pm ET, the Dow was up 168.95, or 1.12%, to 15,209.57; the Nasdaq was up 35.12, or 1.03%, to 3,459.17; and the S&P 500 was up 15.41, or 0.95%, to 1,637.97. | | | 10:34 EDT |  | EQIX | REIT hopefuls decline after IRS launches review
Subscribe for More Information | | | 09:27 EDT | | EQIX | On The Fly: Pre-market Movers
HIGHER: Concurrent (CCUR), up 9.2% after doubling its dividend... Christopher & Banks (CBK), up 9.1% after quarterly earnings, revenue beat expectations... Gamestop (GME), up 2.5% after Microsoft (MSFT) clarifies how games licensing will works on upcoming Xbox One system... Arena (ARNA), up 1.7% after saying Belviq weight-loss drug available in U.s. next week, triggering milestone payment. LOWER: TiVo (XXX), down 18.7% after announcing patent litigation with Google's (GOOG) Motorola, Cisco (CSCO) and Time Warner Cable (TWC), doubles stock buyback authorization... Iron Mountain (IRM), down 17.2%, Lamar Advertising (LAMR), down 8.3%, Equinix (EQIX), down 7.8%, CBS (CBS), down 2.1%, after IRS forms working group on REIT issues, which could delay some of those companies plans for or consideration of REIT conversion... Intel (INTC), down 0.8% following downgrade to Underweight at Piper Jaffray. | | | | 09:13 EDT | | EQIX | Equinix weakness a buying opportunity, says Cowen
Cowen said the only way Equinix is ultimately denied REIT approval is if the IRS decides to throw out all data center companies as REITs, which is unlikely. | | | 08:57 EDT |  | EQIX | Equinix volatility flat into concerns of qualifying for REIT status
Subscribe for More Information | | | 07:53 EDT | | EQIX | IRS move a net negative for REIT conversion hopefuls, says Jefferies
Subscribe for More Information | | | 07:45 EDT | | EQIX | Equinix shares should be bought on weakness, says Stifel
Subscribe for More Information | | | 07:33 EDT | | EQIX | IRS news near-term negative for CBS, Equinix, Lamar, says Citi
Subscribe for More Information | | | 06:36 EDT | | EQIX | Equinix says IRS formed working group for REIT review
Equinix said that as previously disclosed, as part of its planned conversion to a real estate investment trust, it is seeking a private letter ruling from the Internal Revenue Service. The IRS has recently informed Equinix that it has convened an internal working group to study what constitutes real estate for purposes of the REIT provisions of the Internal Revenue Code of 1986, and that, pending the completion of the study, the IRS is unlikely to issue PLRs on what constitutes real estate for REIT purposes. Equinix added that it cannot predict when the IRS working group will complete its study or what the outcome of the study will be. However, Equinix said it continues to believe, based on both existing legal precedent and the fact that other data center companies currently operate as REITs, that its data center assets constitute real estate for REIT purposes. Equinix said it continues to move forward on its plan to convert to a REIT. At this time, Equinix does not expect the potential delay in receiving a PLR as a result of the new IRS working group will delay Equinix’s plan to elect REIT status for the taxable year beginning January 1, 2015. | | | June 6, 2013 | | 11:43 EDT | | EQIX | Equinix added, InterXion removed from Select List at Stifel
Subscribe for More Information | | | June 5, 2013 | | 09:34 EDT | | EQIX | Equinix added to short-term buy list at Deutsche Bank
| | | 07:15 EDT | | RAX | IBM acquisition positive, says RBC Capital
Subscribe for More Information | | | 05:43 EDT |  | RAX | Tech firms applaud Obama patent move, WSJ reports
Technology companies welcomed the Obama administration's decision to enter the debate over patent litigation, seeing a chance to stem a flood of lawsuits they say is hurting innovation, reports the Wall Street Journal. Reference Link | | |
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