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May 19, 2014
07:05 EDTHPQ, MSFT, CSCO, AMZN, GOOG, RAXRaxspace could help Cisco, HP break into cloud market, WSJ reports
Though Raxspace (RAX) is coming under pressure from Amazon (AMZN), Microsoft (MSFT) and Google (GOOG), the Wall Street Journal says the company can still help tech companies like Cisco (CSCO), Hewlett-Packard (HPQ) and Dell break into the cloud market. Reference Link
News For RAX;AMZN;MSFT;GOOG;CSCO;HPQ From The Last 14 Days
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November 11, 2015
08:45 price target raised to $800 from $750 at Morgan Stanley
Morgan Stanley analyst Owen Hyde raised's price target to $800 from $750 on the growing AWS opportunity. Owen said AWS will contribute nearly 60% of Amazon's forward profitability driven by accelerating public cloud adoption and reiterates his Overweight rating.
08:25 EDTGOOGFederal claims dismissal in Google browser tracking suit upheld, Reuters reports
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06:19 EDTGOOGAppNexus talks to Goldman, other banks about IPO plans, Business Insider reports
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November 10, 2015
16:19 EDTRAXOn The Fly: Top stock stories for Tuesday
Stocks on Wall Street were mixed, with the Dow and S&P notching slight gains and the Nasdaq being weighed on by a slide in Apple (AAPL). ECONOMIC EVENTS: In the U.S., import prices fell 0.5% in October and export prices slipped 0.2%. Wholesale sales rose 0.5% in September, with inventories rising 0.5% in the month as well. In China, the consumer inflation rate fell to an annual 1.3% in October, which was down from 1.6% the month before and below the 1.5% consensus forecast. COMPANY NEWS: Shares of Apple, as well as those of a number of its chip suppliers, slid following a bearish note by Credit Suisse, whose checks pointed to reduced iPhone component orders heading into 2016. Credit Suisse analyst John Pitzer and his team cut their forecast for iPhone production in next calendar year in the face of apparently reduced supplier orders from Apple for the iPhone 6s, sending shares of the tech giant down 3.15% to $116.77 and weighing on chip makers including Avago (AVGO), Broadcom (BRCM), Skyworks (SWKS) and Qorvo (QRVO)... During the company's investor meeting, McDonald's (MCD) raised its global refranchising target to 4,000 restaurants through 2018 with a new long-term goal to become 95% franchised, announced plans to increase its dividend by 5% to 89c per share and said that after "robust" debate it had decided to not pursue a REIT spin-off transaction for its real estate holdings. The fast food giant finished the day up 0.3% at $113.29 per share following the meeting. MAJOR MOVERS: Among the notable gainers was Mallinckrodt (MNK), which rallied $4.55, or 7.84%, to $62.56 after a CNBC appearance by Citron Research's Andrew Left, during which the stock began rebounding. Left's Citron had knocked the stock down sharply yesterday by tweeting that the shares had more downside than Valeant (VRX) amid the pricing debate that has impacted both and others in the specialty drug space. Also higher was Tower International (TOWR), which gained 9% to $29.77 after announcing plans to explore a sale of its European operations. Separately, Rackspace (RAX) advanced $3.24, or 11.96%, to $30.33 after reporting better than expected third quarter results. Among the noteworthy losers was Flotek (FTK), which dropped $5.56, or 38.08%, to $9.04 after it responded to a cautious report by saying an analysis of its FracMax database suggested certain production data was misinterpreted. Also lower was Wayfair (W), which lost 14% to $39.42 after reporting better than expected earnings while also being mentioned by investor Whitney Tilson as his largest short position. Later in the day, Citron's Left called the company's business model "stupid" in a CNBC interview. Additionally, Barrett Business (BBSI) fell 27% to $38.47 after disclosing that its auditor had requested an independent investigation regarding certain expense reserves. INDEXES: The Dow rose 27.73, or 0.16%, to 17,758.21, the Nasdaq lost 12.06, or 0.24%, to 5,083.24, and the S&P 500 advanced 3.14, or 0.15%, to 2,081.72.
15:59 EDTGOOGGoogle considering producing Android phone, The Information says
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12:00 EDTAMZN, GOOGAb InBev, HSBC, Google, among firms to testify at EU tax hearing, Reuters says
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11:32 EDTRAXRackspace soars after Q3 results beat analysts' estimates
Shares of managed cloud company Rackspace (RAX) are rising after the firm's third quarter results surpassed analysts' consensus estimates. WHAT'S NEW: Yesterday after the close, Rackspace reported Q3 earnings per share of 26c and revenue of $509M, topping analysts' consensus estimates of 20c and $503.08M, respectively. Adjusted EBITDA for the quarter was $177M, for a margin of 34.9%, up 11.9% from the year ago period. Rackspace previously guided Q3 revenue growth of 2%-3.5% at constant currency and EBITDA margins to be 33%-34%. WHAT'S NOTABLE: Looking ahead to the fourth quarter, the company expects revenue growth of 2%-3% sequentially, on a constant currency basis, and expects adjusted EBITDA margins of 33%-34%. For the full year, Rackspace continues to expect revenue growth of 12%-14% year-over-year, on a constant-currency basis, and expects adjusted EBITDA margins of 33%-34%. The revenue consensus for Q4 and FY15 are $517.57M and $1.99B, respectively. Rackspace also announced yesterday that it intends to issue $350M in senior debt to repay all outstanding amounts under its senior revolving credit facility, with the remaining net proceeds being used for general corporate purposes. ANALYST REACTION: Research firm Pacific Crest kept an Overweight rating and $45 price target on Rackspace following the "strong" Q3 results and "conservative" 2015 guidance. PRICE ACTION: In late morning trading, Rackspace rose $4.58 or about 16.9% to $31.61 on more than twice its average daily trading volume. Despite today's advance, the shares have lost approximately 15.5% over the past 12 months. OTHERS TO WATCH: Other companies in the cloud space include Internap (INAP), down 2.9%, Citrix Systems (CTXS), up fractionally, and Akamai Technologies (AKAM), down fractionally.
11:06 EDTAMZNBattleground: Wayfair pits noted short sellers against Wall Street analysts
Shares of Wayfair (W), which describes itself as "one of the world's largest online destinations for home furnishings and decor," are sharply lower following its report last night of its third quarter results. The company posted a loss that was not as bad as forecast, reported better than expected revenues and guided to higher than expected sales in its upcoming quarter, but its stock is falling as bears and bulls debate its prospects for future profitability. BEARS: Whitney Tilson of Kase Capital Management, who previously accused Lumber Liquidators (LL) of selling wood with dangerous levels of formaldehyde, is making the same claims against Ark Floors, a California importer that has sold its products via Wayfair and through (WMT), reported The New York Times. Jane Carpenter, a spokeswoman for Wayfair, said the company had previously removed all of Ark's laminate from its website and said it had sold just 10 orders for Ark products since December 2014, including one order through, the report noted. According to a letter that Tilson sent to investors last night, published on Seeking Alpha, he stated that Wayfair is currently his largest short position "by far." Tilson noted that Wayfair competes head-to-head versus Amazon (AMZN), Home Depot (HD), Target (TGT), and Williams-Sonoma (WSM) and he believes the company's chances of "ever reaching breakeven, much less earning a profit, much less earning enough of a profit to justify a $4B market cap are close to zero," he wrote. Tilson predicts the stock will be below $10 within a year. Short-selling blog Citron Research, which has also previously disclosed a short position in Wayfair, linked to a Wall Street Journal article in an October 20 tweet, saying UPS (UPS) "destroys" Wayfair's core model of free shipping on oversized items. The Journal article detailed the shipping giant's plans to charge websites that share "generous shipping discounts with vendors." BULLS: Piper Jaffray analyst Neely Tamminga raised her price target for Wayfair to $73 from $60 this morning, saying the company posted "exceptional" growth in Q3 amid an otherwise "lackluster" retail environment. After the New York Times article citing Wayfair's association with a vendor viewed as at-risk given a short-seller's testing of laminate flooring, Tamminga points out that all laminate flooring accounts for 0.2% of the company's sales. She continues to recommend Wayfair as a top pick for 2015. Analysts at Wells Fargo previously said in September that reports on Wayfair by short sellers included many inaccuracies. For example, Wells said that shorts' view that Wayfair loses money on every transaction relies on a "flawed view" of the company's customer acquisition costs and payback. Shorts compare Wayfair with Overstock (OSTK), but Wayfair is growing much more quickly that the latter company, Wells stated. According to the firm, which kept an Outperform rating on the shares, Wayfair has by far the highest organic revenue growth rate among U.S. consumer companies. PRICE ACTION: In morning trading, Wayfair fell $5.08, or 11.2%, to $40.50 per share.
10:53 EDTAMZNWhitney Tilson sees Wayfair trading below $10 within a year
Noted short-seller Whitney Tilson explained in a Seeking Alpha post why Wayfair (W) is his largest short position. He predicts the stock will be below $10 within a year. The online retailer is trading down $4.74 to $41.10 after reporting Q3 results. A New York Times article on one of Wayfair's vendors producing potentially toxic Chinese-made laminate flooring shows the company's business model is "completely out of control," Tilson argues. In addition, the odds of the online retailer ever reaching breakeven are "close to zero," he contends, citing the competition Wayfair faces from (AMZN), Home Depot (HD), Target (TGT) and Williams-Sonoma (WSM). Reference Link
10:20 EDTRAXHigh option volume stocks
High option volume stocks: EQM RAX BBG XONE FTK CAG AEGR ZBRA TYC CNI
09:37 EDTRAXActive equity options trading on open
Active equity options trading on open: AAPL TGT VLO BAC FB W RAX V PHM
09:30 EDTAMZNAmazon says Prime Now expands in Los Angeles announced that Prime Now, the company's one-hour delivery service, has expanded in Los Angeles to include delivery from local restaurants, including Umami Burger, Baby Blues BBQ, Wokcano, Hurry Curry of Tokyo, Feast from the East, John O'Groats Restaurant, and many more. Prime members in Los Angeles can now enjoy delivery from their favorite local restaurants, as well as delivery on tens of thousands of items from Amazon and local stores such as Sprouts Farmers Market, Bristol Farms, Sprinkles Cupcakes, Erewhon Organic Grocer and 99 Ranch Market.
09:29 EDTRAXOn The Fly: Pre-market Movers
UP AFTER EARNINGS: SciClone Pharmaceuticals (SCLN), up 22%... Bellicum Pharmaceuticals (BLCM), up 10.4%... Canadian Solar (CSIQ), up 8%... Rackspace Hosting (RAX), up 8.9%... Opko Health (OPK), up 6%. ALSO HIGHER: Ocata Therapeutics (OCAT), up 88.3% after being acquired by Astellas Pharma (ALPMY)... Straight Path (STRP), up 8.1% after Nikos Hecht reports 9.2% passive stake in the company... TETRA Technologies (TTI), up 3.1% after being upgraded to Overweight from Neutral at JPMorgan. DOWN AFTER EARNINGS: ExOne (XONE), down 23.3%... Galena Biopharma (GALE), down 12.2%... MannKind (MNKD), down 8%... Jazz Pharmaceuticals (JAZZ), down 8.6%... Wayfair (W), down 1.9%... Gap (GPS), down 5.4%. ALSO LOWER: Magnum Hunter (MHR), down 30.8% after saying that factors raise substantial doubt about the company's ability to continue as a going concern... Barrett Business Services (BBSI), down 35.6% after receiving a letter from its independent auditor... Callon Petroleum (CPE), down 4.6% after its 12M share Spot Secondary priced at $8.40... Cyberark (CYBR), down 3.4% after being downgraded to Neutral from Buy at BofA/Merrill.
09:16 EDTAMZNAmazon says Amazon Echo to be available in 3,000 stores in the U.S.
Amazon (AMZN) announced that Amazon Echo will be available in more than 3,000 stores around the country in time for the holiday shopping season. Customers will be able to visit select locations of The Home Depot (HD), Staples (SPLS), Sears (SHLD), Brookstone, RadioShack (RSHCQ), Fred Meyer, P.C. Richard & Son, as well as several other retailers to experience and purchase Echo.
09:04 EDTAMZNAmazon announces tripling of selection of free apps, games at Amazon Underground
Amazon today announced that Amazon Underground has tripled the selection of free apps and games in the first two months since launch. Amazon Underground is a new app for Android phones, available exclusively from Amazon, which offers a large selection of popular apps and games for free. In Underground, customers don't have to pay for premium apps, or download a free app and spend money to complete a level more quickly, get more lives, or unlock new features.
09:03 EDTRAXRackspace reported strong Q3 results, says Pacific Crest
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08:50 EDTCSCOEricsson deal disappointing, says Bernstein
Bernstein says it's disappointed that Ericsson (ERIC) decided to sign a partnership deal with Cisco (CSCO) instead of acquiring Juniper (JNPR). According to Bernstein, the latter transaction would have provided Ericsson with more near-term financial benefits, more favorable capital deployment, and a better long-term outlook. Bernstein is "skeptical" about Ericsson's ability to obtain the long-term strategic benefits it foresees from the Cisco deal. Nonetheless Bernstein keeps a $14.46 price target and Outperform rating on Ericsson.
07:20 EDTMSFTMicrosoft price target raised to $64 from $53 at Piper Jaffray
Piper Jaffray analyst Katherine Egbert raised her price target for Microsoft to $64 saying the newly released Halo 5: Guardians appears to be the company's most successful Halo so far. Microsoft is on its way towards a "more growth-oriented phase of life" with growth coming from Halo, Windows10 and other products, Egbert tells investors in a research note. She keeps an Overweight rating on the name.
07:12 EDTMSFTMicrosoft to offer cloud services from the UK
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07:12 EDTCSCOCisco partnership positive, says SunTrust
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