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Stock Market & Financial Investment News

News Breaks
May 16, 2014
10:40 EDTEMC, AMZN, RHT, HPQ, CSCO, VMW, GOOG, RAXCisco, Amazon seen as potential acquirers of Rackspace
Several analysts issued upbeat notes to investors on Rackspace (RAX) after the company, which provides cloud computing services, last night announced that it had been approached by a number of other companies that expressed interest in exploring strategic relationships, including partnerships and acquisitions. Rackspace disclosed it had hired Morgan Stanley (MS) to evaluate the proposals and explore other alternatives. ANALYST OPINION: 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. These companies could use Rackspace to expand their cloud offerings, according to the firm, which thinks Rackspace would likely be worth more than $47 per share in a potential deal. Meanwhile, Piper Jaffray said in its own note that the list of potential buyers for Rackspace is "extensive" and includes Cisco, Google (GOOG), Amazon.com (AMZN), EMC (EMC), VMware (VMW) and Red Hat (RHT). Piper believes takeout speculation, coupled with improving fundamentals, limits downside risk in Red Hat shares and the firm keeps an Overweight rating on the stock after the company confirmed being approached by multiple parties. Also upbeat was JMP Securities analyst Patrick Walravens, who recommended investors buy Rackspace shares. The company's business is poised to accelerate, and it could attract interest from multiple bidders, Walravens contended, adding that the stock is "significantly undervalued" and could more than double from current levels. The analyst kept a $67 price target and Outperform rating on the shares. PRICE ACTION: In early trading, Rackspace climbed over 19% to $36.53.
News For RAX;CSCO;AMZN;GOOG;HPQ;EMC;VMW;RHT From The Last 14 Days
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January 13, 2015
06:44 EDTHPQHP downgraded to Sector Perform from Outperform at Pacific Crest
Pacific Crest downgraded HP (HPQ) to Sector Perform citing valuation and rising competitive risks from hyperconvergence and new datastores. The firm lists Tableau (DATA), F5 Networks (FFIV), lik Technologies (QLIK) and Nimble Storage (NMBL) as its top names to own in the Cloud, Analytics & Data Infrastructure space. Pacific Crest also downgraded also NetApp (NTAP) to Sector Perform citing the same rationale as HP.
06:16 EDTAMZNAmazon.com upgraded to Buy from Neutral at Citigroup
Citigroup upgraded Amazon.com to Buy saying the risk/reward on shares is attractive below $300. Citi believes holiday data points look good for Amazon's Q4 results and that the retailer's gross margins will rise in 2015, reversing 2014's downward trend. The firm raised its price target for Amazon to $354 from $325 and thinks the stock has support around $300. Shares of the retailing giant closed yesterday down $5.52 to $291.41.
06:07 EDTAMZNAmazon sued for $25M by Durst Organization, Forbes reports
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January 12, 2015
16:50 EDTHPQGartner says worldwide PC shipments in Q4 grew 1%
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16:00 EDTAMZNOptions Update; January 12, 2015
iPath S&P 500 VIX Short-Term Futures up 1.57 to 33.54. Option volume leaders: AAPL TSLA TWTR AMZN AA SIRI RIG FRO C according to Track Data.
13:14 EDTGOOGAnalysts take opposite sides in regards to Google shares
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11:19 EDTGOOGGoogle set to provide real-time translation via Translate app, NY Times reports
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11:08 EDTEMCEMC says Elliott agrees to certain limited standstill provisions through Sept.
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10:00 EDTGOOGOn The Fly: Analyst Downgrade Summary
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10:00 EDTVMWOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Agnico-Eagle (AEM) upgraded at BMO Capital... Aimco (AIV) upgraded to Outperform from Market Perform at Wells Fargo... Alaska Air (ALK) upgraded at Evercore ISI... Alcoa (AA) upgraded to Buy from Neutral at Nomura... Alon USA Energy (ALJ) upgraded to Neutral from Sell at Goldman... AvalonBay (AVB) upgraded to Buy from Hold at Jefferies... BASF (BASFY) upgraded to Buy from Neutral at Citigroup... C.H. Robinson (CHRW) upgraded to Overweight from Equal Weight at Barclays... CBS (CBS) upgraded to Outperform at Cowen... Chesapeake (CHK) upgraded to Buy from Neutral at Goldman... China Mobile (CHL) upgraded to Buy from Hold at Jefferies... Chunghwa Telecom (CHT) upgraded to Neutral from Underweight at ... D.R. Horton (DHI) upgraded at KeyBanc... Daimler AG (DDAIF) upgraded to Neutral from Underperform at BofA/Merrill... Diamond Resorts (DRII) upgraded to Buy from Neutral at Goldman... FMC Corporation (FMC) upgraded to Buy from Neutral at BofA/Merrill... First Cash Financial (FCFS) upgraded to Buy from Neutral at Janney Capital... Frontier Communications (FTR) upgraded at BofA/Merrill... HomeAway (AWAY) upgraded to Outperform from Neutral at Macquarie... Ingersoll-Rand (IR) upgraded at Morgan Stanley... KB Home (KBH) upgraded to Outperform from Market Perform at Raymond James... Knight Transportation (KNX) upgraded to Overweight from Equal Weight at Barclays... LabCorp (LH) upgraded to Outperform at RW Baird... M.D.C. Holdings (MDC) upgraded to Outperform from Market Perform at Raymond James... Mid-America Apartment (MAA) upgraded to Buy from Hold at Jefferies... PACCAR (PCAR) upgraded at RBC Capital... Parsley Energy (PE) upgraded to Neutral from Sell at Goldman... Peugeot (PUGOY) upgraded to Buy from Underperform at BofA/Merrill... Radware (RDWR) upgraded to Buy from Neutral at Buckingham... Rush Enterprises (RUSHA) upgraded at BB&T... Ryland Group (RYL) upgraded to Outperform from Market Perform at Raymond James... SL Green Realty (SLG) upgraded to Buy from Hold at Jefferies... Solera (SLH) upgraded to Buy from Neutral at Goldman... Standard Pacific (SPF) upgraded to Neutral from Underweight at JPMorgan... Statoil (STO) upgraded to Neutral from Sell at Goldman... Syngenta (SYT) upgraded to Buy from Hold at Miller Tabak... VMware (VMW) upgraded to Positive from Mixed at OTR Global... Vale (VALE) upgraded to Outperform from Sector Perform at Scotia Capital... Volvo (VOLVY) upgraded to Neutral from Underperform at BofA/Merrill... Windstream (WIN) upgraded at BofA/Merrill... lululemon (LULU) upgraded to Neutral from Underperform at Sterne Agee.
09:40 EDTGOOGGoogle no longer fixing older Android security flaws, WSJ reports
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09:28 EDTVMWVMware upgraded to Positive from Mixed at OTR Global
OTR Global raised its view on VMware to Positive following checks that indicate increased ELA activity in Q4.
09:22 EDTGOOG23andMe announces collaboration with Pfizer
Google (GOOG)-backed 23andMe announced an agreement with Pfizer (PFE) that will provide Pfizer with access to 23andMe’s research platform, including services and Research Portal analysis of 23andMe’s genotyped population of over 800,000 individuals, of which more than 80 percent have consented to participate in research. 23andMe’s Research Portal enables qualified and approved scientists outside of 23andMe the opportunity to leverage the company’s unique research model while still protecting the privacy and security of 23andMe’s customers. As a part of the agreement, the companies will collaborate on certain genome-wide association studies, surveys, and clinical trial recruitment. One of these collaborations will be a longitudinal study to better understand the genetics of lupus. This study will entail enrollment and genotyping of 5,000 people into a new lupus research community, and include the integration of medical records, targeted bio-sampling along with genetic information for all participants. This announcement follows a collaboration between 23andMe and Pfizer to enroll 10,000 people with Inflammatory Bowel Disease in a research initiative designed to explore the genetic factors associated with the onset, progression, severity and response to treatments for IBD. Nearly 4,000 patients have been enrolled in the community since August 2014.
09:04 EDTAMZNAmazon wins first Golden Globe for 'Transparent,' Business Insider reports
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08:21 EDTGOOGApple poised to gain market share, says JMP Securities
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08:02 EDTGOOGGoogle shares undervalued, says Bernstein
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07:38 EDTGOOGGoogle downgraded to Neutral from Overweight at Atlantic Equities
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07:03 EDTVMWCiti recommends long VMware, short Citrix pair trade
Citigroup closes out its Software pair trade of long Intuit (INTU), short Autodesk (ADSK) and recommends a new trade of long VMware (VMW), short Citrix (CTXS). Citi expects VMware to report strong Q4 results relative to "modest" expectations and sees potential risk to Citrix's sales outlook.
06:46 EDTGOOGGoogle downgraded to Neutral from Overweight at Atlantic Equities
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06:28 EDTCSCOCisco positioned for better than expected quarter, says Deutsche Bank
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