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Stock Market & Financial Investment News

News Breaks
March 26, 2014
11:29 EDTRAX, AMZN, GOOGRackspace 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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May 12, 2015
09:14 EDTGOOGApps World to hold a conference
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08:01 EDTRAXRackspace downgraded to Equal Weight following Q1 report at Morgan Stanley
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07:51 EDTRAXRackspace outlook still positive, says Wells Fargo
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07:51 EDTRAXRackspace weakness a buying opportunity, says Cowen
Cowen noted shares of Rackspace were lower following its Q1 results and "disappointing" Q2 guidance, but the firm sees the weakness providing a buying opportunity. The firm believes the company's fundamentals remain intact and sees the potential for a major public cloud partnership in Q3. Cowen reiterated its Outperform rating and $74 price target on Rackspace shares.
07:26 EDTRAXRackspace weakness creates buying opportunity, says Stifel
After Rackspace reported in-line Q1 results and provided weaker than expected Q2 revenue guidance, Stifel says the guidance miss was primarily timing related. The firm believes that the company's momentum remains strong, while its fundamental outlook is unchanged. It adds that the deal which was postponed, causing the guidance miss, was a key win for the company. Stifel keeps a Buy rating on the shares.
07:00 EDTGOOGPublishers contend with Facebook clout as traffic-driving power grows, WSJ says
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06:53 EDTGOOGGoogle sees India business doubling every year, Economic Times says
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06:10 EDTRAX, RAXRackspace downgraded to Outperform from Buy at CLSA
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06:10 EDTRAXRackspace downgraded to Equal Weight from Overweight at Morgan Stanley
06:07 EDTGOOGGoogle's Urmson: Self-driving cars not the cause of accidents, Medium reports
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06:04 EDTGOOGGoogle's self-driving cars in three collisons since September, AP reports
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May 11, 2015
19:15 EDTRAXOn The Fly: After Hours Movers
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19:05 EDTGOOGFacebook tests in-house search engine, WSJ says
Facebook (FB) is testing a feature within its app that allows users to search for previously-shared links, reports the Wall Street Journal's Digits blog, citing spokesperson statements. "We’re piloting a new way to add a link that’s been shared on Facebook," said a company spokesperson. The Journal notes that the feature could give Facebook an information edge over search engine leader Google (GOOG). Reference Link
16:04 EDTRAXRackspace sees Q2 revenue growth 1.5%-2.5% at constant currency
The company said, "For the second quarter of 2015, Rackspace expects revenue to grow between 1.5 percent and 2.5 percent on a constant currency basis and adjusted EBITDA margins to be between 32 percent and 34 percent."
16:03 EDTRAXRackspace reports Q1 EPS 20c, consensus 20c
Reports Q1 revenue $480.2M, consensus $481.57M.
15:00 EDTRAXNotable companies reporting after market close
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11:16 EDTRAXRackspace volatility increases into Q1 and outlook
Rackspace May call option implied volatility is at 92, June is at 40, September is at 39; compared to its 90-day average of 37, suggesting large near term price movement into the expected release of Q1 results today.
11:03 EDTGOOGLionsgate, Google Play partner on 'The Mad Men Experience'
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09:03 EDTAMZNAmazon.com to open fulfillment center in Carteret, NJ
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06:11 EDTGOOG, AMZNStudy: Jet.com has lower prices than Amazon '94% of the time,' WSJ reports
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