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Stock Market & Financial Investment News

News Breaks
March 17, 2014
10:03 EDTIBP, RPXC, RNG, VMW, GFED, NMBL, WYYOn The Fly: Analyst Initiation Summary
Guaranty Federal Bancshares (GFED) initiated with an Outperform at Raymond James... RPX Corp. (RPXC) initiated with an Outperform at Cowen... WidePoint (WYY) initiated with a Buy at B. Riley... VMware (VMW) initiated with a Buy at Monness Crespi... Installed Building Products (IBP) initiated with a Hold at KeyBanc... Nimble Storage (NMBL) initiated with a Neutral at Longbow... RingCentral (RNG) initiated with an Outperform at William Blair.
News For GFED;RPXC;WYY;VMW;IBP;NMBL;RNG From The Last 14 Days
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December 19, 2014
11:54 EDTVMWRed Hat soars to 52-week high after beat and raise quarter
Shares of open source software solutions provider Red Hat (RHT) are rallying after the company’s third quarter results surpassed analysts’ consensus estimates and it raised its outlook for fiscal 2015. WHAT'S NEW: Last night, Red Hat reported Q3 adjusted earnings per share of 42c and revenue of $455.9M, topping analysts’ consensus estimates of 40c and $451.39M, respectively. Q3 subscription revenue was $395M, up 15% year-over-year, while operating cash flow of $133M was up 40% year-over-year. CFO Charlie Peters noted that strong performance in the quarter was driven by outstanding sales execution. He said, “performance this quarter with large deals was exceptional, setting new records in number of deals over $5M in a quarter and deals over $10M in a Q3.” Peters also announced his intention to retire in the next twelve months. WHAT’S NOTABLE: Looking ahead to Q4, Red Hat forecast EPS of 40c-41c and revenue of $456M-$459M, compared to consensus of 41c and $459.39M, respectively. The company raised its outlook for FY15 EPS to $1.57-$1.58 from $1.53-$1.55, versus consensus of $1.54. It also boosted the bottom end its FY15 revenue outlook to $1.78B-$1.79B from $1.77B-$1.79B, compared to the consensus of $1.78B. ANALYST REACTION: This morning, four research firms - Piper Jaffray, Stifel, UBS, and Oppenheimer - all raised their respective price targets on Red Hat. Each cited the company’s stronger than expected Q3 results. All four maintained a Buy or equivalent rating on the shares and among the four Oppenheimer took its price target up to the highest level, increasing its target on Red Hat to $80 from $74. PRICE ACTION: In late morning trading, Red Hat rose $6.98, or 11.4%, to $68.48 on nearly three times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week high of $70.13. Including today's advance, the shares have gained approximately 40% over the past 12 months. OTHERS TO WATCH: Other companies in the software and cloud space include Oracle (ORCL), LogMeIn (LOGM) VMware (VMW), and Microsoft (MSFT).
December 16, 2014
13:19 EDTVMWResearch firm sees Amazon spinning off AWS in 2015, CNBC reports
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08:27 EDTNMBLNimble Storage shares should be bought after decline, says Pacific Crest
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December 12, 2014
12:26 EDTVMWPiper Jaffray bearish, RBC bullish on VMware outlook
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07:08 EDTIBPInstalled Building Products announces repurchase of $5.3M of stock
Installed Building Products announced it has agreed to repurchase 300,000 shares of its common stock for an aggregate purchase price of $5.3M from Cetus Capital II, LLC, one of its largest stockholders. The price per share for the repurchase equals $17.61, which was the last reported sales price of the company’s common stock on December 11. The repurchase was effected in a privately-negotiated transaction and will be funded from the company’s cash on hand.
06:34 EDTVMWVMware resumed with an Underweight from Overweight at Piper Jaffray
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December 11, 2014
07:58 EDTVMWVMware pullback creates attractive entry point, says RBC Capital
After meeting with VMware's management, RBC Capital continues to believe that the company has significant cross selling opportunities and can benefit from a $60B data center total available market. The firm believes that several of the company's markets could reach a positive turning point in 2015. RBC keeps an Outperform rating on the shares.
December 10, 2014
07:46 EDTWYYWidePoint receives $4.5M option year excercise from Federal Agency customer
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December 8, 2014
16:42 EDTRPXCRPX Corp. CFO Ned Segal resigns
RPX Corporation announced that Robert Heath, currently the company's Senior Vice President, Corporate Development, will assume the role of CFO. Ned Segal, the company's current CFO, has resigned effective mid-January.
16:40 EDTRPXCRPX Corp. sees FY14 revenue $258.6M- $261.2M, consensus $259.59M
16:39 EDTRPXCRPX Corp. sees Q4 revenue $67M-$69.6M, consensus $68.09M
07:32 EDTNMBLRaymond James to hold a conference
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07:28 EDTNMBLFBN Securities to hold a bus tour
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