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Stock Market & Financial Investment News

News Breaks
March 26, 2014
11:29 EDTGOOG, RAX, AMZNRackspace falls after Google cuts cloud computing price
Shares of Rackspace (RAX), which provides cloud computing services, are falling after Google (GOOG) sharply cut the prices of its competing products. WHAT'S NEW: Google yesterday announced that it was slashing the prices of its cloud computing services by 30%-85%. Companies that provide cloud computing services rent out computer storage space to their customers. Google said that the prices of computer hardware that enables cloud computing services have been dropping much more quickly than cloud computing prices, according to multiple reports. ANALYST REACTION: In a note to investors earlier today, Wells Fargo analyst Gray Powell wrote that the cloud computing services market has become much more competitive. Although investors are likely to view Google's price cuts as being negative for Rackspace, a number of factors mitigate the impact of the price cuts, Powell believes. Specifically, since mid-2013 Rackspace has been able to provide dedicated storage infrastructure to companies that need it, and then convince those companies to upgrade to cloud computing services, the analyst explained. Additionally, Rackspace has better customer support than its competitors, Powell believes. He finds the stock's valuation compelling and kept an Outperform rating on the shares. ANOTHER TO WATC: amazon.com also provides cloud computing services. PRICE ACTION: In late morning trading, Rackspace fell 4% to $32.50.
News For RAX;GOOG;AMZN From The Last 14 Days
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February 18, 2015
08:19 EDTRAXRackspace upgraded following Q4 results at Pacific Crest
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07:48 EDTGOOGYandex requests anti-trust investigation against Google, TechCrunch says
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07:06 EDTGOOGGoogle Capital hiring for India expansion, WSJ says
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06:21 EDTRAXRackspace upgraded to Outperform from Sector Perform at Pacific Crest
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06:20 EDTGOOGApple awarded patent for wireless head-mounted display, Financial Times reports
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February 17, 2015
18:36 EDTRAXOn The Fly: After Hours Movers
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18:17 EDTRAXJANA Partners gives quarterly update on stakes
NEW STAKES: NCR (NCR), Liberty Ventures (LVNTA), Solarcity (SCTY), Computer Sciences Corp (CSC), Salix (SLXP), and Applied Materials (AMAT). INCREASED STAKES: Hertz (HTZ), Valeant (VRX), Walgreens Boots Alliance (WBA), Rackspace (RAX), and HD Supply (HDS). DECREASED STAKES: AIG (AIG), Actavis (ACT), Charter (CHTR), AerCap (AER), and Energy Transfer Equity (ETE). LIQUIDATED STAKES: Equinix (EQIX), Cameron International (CAM), Dollar General (DG), QEP Resources (QEP), and Amgen (AMGN).
16:17 EDTRAXRackspace falls after earnings, levels to watch
Shares are down over 6% in the extended session to $46.85 following results. At that price next support is at $45.51. Resistance is at $47.29.
16:04 EDTRAXRackspace sees FY15 revenue $2B-$2.1B, consensus $2.08B
Sees FY15 revenue to grow between 14%-18% on a constant currency basis. Based on foreign currency movements to date, Rackspace anticipates a 200 basis point headwind to revenue growth for the full year of 2015, resulting in GAAP revenue in the range of $2.0B-$2.1B. The company expects adjusted EBITDA margins to be between 33%-36% for the year.
16:03 EDTRAXRackspace sees Q1 revenue $477M-$484M, consensus $490.51M
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16:02 EDTRAXRackspace reports Q4 EPS 26c, consensus 19c
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16:00 EDTAMZNOptions Update; February 17, 2015
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15:32 EDTRAXNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Devon Energy (DVN), consensus $1.05... Vornado Realty (VNO), consensus $1.23... Analog Devices (ADI), consensus 61c... FirstEnergy (FE), consensus 75c... CF Industries (CF), consensus $5.08... Agilent Technologies (A), consensus 41c... Cimarex Energy (XEC), consensus 82c... Flowserve (FLS), consensus $1.13... Fossil (FOSL), consensus $3.07... Rackspace (RAX), consensus 19c... Norwegian Cruise Line (NCLH), consensus 37c... Jack in the Box (JACK), consensus 87c... Cloud Peak Energy (CLD), consensus 7c... La-Z-Boy (LZB), consensus 38c... KAR Auction Services (KAR), consensus 29c... Owens & Minor (OMI), consensus 50c... Valmont Industries (VMI), consensus $1.65... Realty Income (O), consensus 66c.
15:09 EDTRAXRackspace February 50 straddle priced for 8.4% movement into Q4
12:12 EDTGOOGAT&T to match Google Fiber speed, pricing in Kansas City area, KC Star says
AT&T (T) announced on Sunday that it would offer Internet service in Kansas City and several of itssuburbs, with the same speed and pricing as Internet service provided by Google's Google Fiber service in the region, according to The Kansas City Star. Reference Link
10:31 EDTGOOGApple rises as analysts applaud reported auto ambitions
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10:28 EDTRAXJANA Partners reports 5.6% passive stake in Rackspace
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09:40 EDTAMZNActive equity options trading on open
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08:50 EDTGOOGGoogle launches Chinese YouTube channel for app developers, TechCrunch says
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07:33 EDTRAXRackspace volatility elevated into Q4 and outlook
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