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Stock Market & Financial Investment News

News Breaks
May 16, 2014
13:18 EDTRAX, RHT, VMW, EMC, GOOG, CHK, JWN, JCP, DRI, CSCO, AMZN, ARCPOn The Fly: Midday Wrap
Stocks on Wall Street were slightly lower at midday as the market looks set to end the week on a low note and extend its two day losing streak. The major averages opened relatively quietly with options ready to expire and have remained in a narrow range throughout the morning part of the session. The market barely reacted to the day’s economic data, which included housing starts and permits that were well above expectations. The first readout of the University of Michigan consumer confidence index for the month, however, was below expectations. ECONOMIC EVENTS: In the U.S., housing starts rose 13.2% to a 1.07M unit pace in April, which was well above expectations. The number of building permits issued also beat the consensus forecast, rising 8% to a pace of 1.08M. The University of Michigan consumer confidence index fell to 81.8 in the first May release, falling short of expectations for a modest rise to 84.3. COMPANY NEWS: Shares of Rackspace (RAX) surged 20% higher after the cloud computing company disclosed last night that it had been approached by a number of other companies that expressed interest in exploring strategic relationships and that it had hired Morgan Stanley (MS) to help evaluate the proposals and explore its options. In a note to investors earlier today, Credit Suisse wrote that Rackspace's cloud offerings would be attractive to multiple companies, including Cisco (CSCO), Hewlett-Packard (HPQ), and Dell. Piper Jaffray said in its own note that the list of potential buyers for Rackspace is "extensive," also listing Cisco, but adding Google (GOOG), Amazon.com (AMZN), EMC (EMC), VMware (VMW) and Red Hat (RHT) as other potential suitors. MAJOR MOVERS: Among the notable gainers was Nordstrom (JWN), which was up nearly 13% after the company reported first quarter earnings per share that exceeded expectations and said it will seek a partner for credit card receivables. Also rising following its better than expected quarterly sales report was another retailer, J.C. Penney (JCP), whose shares rose 14%. Among the noteworthy losers was Chesapeake Energy (CHK), which fell almost 5% after announcing that it will spin off its Oilfield Services business, among other asset moves, and lowered its FY14 production, operating cash flow and dividend payments outlooks. Also lower were shares of restaurant operator Darden (DRI), which slipped 4% after agreeing to sell its Red Lobster business and certain other assets, such as real estate, to Golden Gate Capital for $2.1B in cash. American Realty (ARCP) then announced an approximate $1.5B sale-leaseback transaction for over 500 Red Lobster restaurant properties to be completed in conjunction with Golden Gate Capital's acquisition. INDEXES: Near midday, the Dow was down 17.40, or 0.11%, to 16,429.41, the Nasdaq was down 13.31, or 0.33%, to 4,055.99, and the S&P 500 was down 1.85, or 0.1%, to 1,869.00.
News For RAX;AMZN;CSCO;DRI;JCP;JWN;CHK;GOOG;EMC;VMW;RHT;ARCP From The Last 14 Days
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August 19, 2014
10:42 EDTJCPOptions with decreasing implied volatility
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09:07 EDTRAXOn The Fly: Pre-market Movers
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08:42 EDTCSCOImperva new CEO has history of selling companies, says Sterne Agee
After Imperva (IMPV) appointed Anthony Bettencourt as its new CEO, Sterne Agee says that he has a history of selling companies. The firm believes that Imperva "would likely be an acquisition candidate" for a number of large tech companies such as Cisco (CSC), Juniper (JNPR), HP (HPQ), IBM (IBM), Check Point (CHKP), or F5 (FFIV). Sterne Agee believes that Imperva could be acquired for as much as $45 per share, and it keeps a Buy rating on the stock.
08:35 EDTRAXRackspace may adopt more shareholder friendly structure, says Wells Fargo
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08:11 EDTVMW, EMCVMware promotes Betsy Sutter to SVP, Chief People Officer
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08:09 EDTVMW, EMCVMware updates executive responsibilities
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06:57 EDTAMZNAmazon.com implied volatility of 22 at lower end of index mean range
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06:50 EDTGOOGImages show impending Google music subscription service, Android Police says
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06:13 EDTGOOGContinental AG hires Google's Seval Oz to lead new division, WSJ reports
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05:57 EDTGOOGGoogle to offer accounts to children under 13, WSJ reports
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August 18, 2014
18:21 EDTRAXOn The Fly: After Hours Movers
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17:41 EDTRAXBlue Harbour looks forward to ongoing dialogue with Rackspace on alternatives
Blue Harbour Group, which reported that it owns approximately 9.1M shares or 6.4% of Rackspace Hosting, issued the following statement: Todd R. Marcy, a Managing Director of Blue Harbour, stated, "Rackspace has built an incredibly valuable business with excellent long-term prospects that we believe are not reflected in the company's current share price. We believe the Board and management team are committed to closing this significant valuation gap. We look forward to a constructive, ongoing dialogue on the various alternatives Rackspace has to unlock and deliver meaningful shareholder value, whether as a standalone independent entity or pursuant to the current strategic review process."
16:43 EDTRAXBlue Harbour reports 6.4% stake in Rackspace
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16:30 EDTRAXActivist investor Blue Harbour builds Rackspace stake to 6.5%, WSJ says
Activist investor Blue Harbour Group which is known for holding talks with companies rather than "public fights," has accumulated a 6.5% stake in Rackspace, says the Wall Street Journal. Rackspace, a cloud-computing company, has lately been reviewing its strategic options, added the Wall Street Journal. Reference Link
16:00 EDTAMZNOptions Update; August 18, 2014
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13:12 EDTGOOGMicrosoft getting ready to launch Chromebook challengers, 9to5Google says
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11:57 EDTJCPStocks with call strike movement; JCP GPRO
J.C. Penney (JCP) November 11 call option implied volatility decreased 4% to 43, GoPro (GPRO) January 48 call option implied volatility decreased 8% to 45 according to IVolatility.
09:35 EDTAMZNActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AMZN DG TSLA GILD FB ABX WFC C
08:47 EDTRAXRaymond James to hold a summit
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06:44 EDTCHKNatural gas companies worried about regulatory outlook, The Hill says
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