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Stock Market & Financial Investment News

News Breaks
March 26, 2014
11:29 EDTAMZN, GOOG, RAXRackspace 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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November 11, 2014
07:51 EDTRAXRackspace price target raised to $50-$52 from $42-$46 at Wells Fargo
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06:03 EDTAMZNQ4 global tablet shipments estimated at 74.5M units, DigiTimes reports
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November 10, 2014
18:32 EDTRAXOn The Fly: After Hours Movers
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17:10 EDTRAXRackspace CEO says buyback an example of confidence in future
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17:08 EDTRAXRackspace CEO says management 'feels good' about Q4 pipeline
16:50 EDTRAXRackspace CEO says company is committed to revenue growth, margin
Comments provided during Q3 earnings conference call.
16:42 EDTRAXRackspace up 2% to $38 after Q3 results, $500M share buyback
16:40 EDTRAXRackspace says joined Microsoft Cloud OS Network
Rackspace (RAX) said it expanded its Managed Private Cloud product portfolio and joined the Microsoft (MSFT) Cloud OS Network, adding Fanatical Support for the Microsoft Cloud Platform. It stated, "This includes expertise and support for Windows Server with Hyper-V, System Center and Azure Pack. The offering is now in general availability in all U.S. data centers providing customers with SLA-backed management across the underlying infrastructure, guest operating systems, and select applications including Microsoft Exchange, SharePoint and Lync."
16:39 EDTRAXRackspace says Q4 revenue outlook includes negative FX impact
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16:37 EDTRAXRackspace announces $500M share repurchase plan
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16:10 EDTRAXRackspace sees Q4 adjusted EBITDA margin 33%-35%
16:09 EDTRAXRackspace sees Q4 EPS $469M-$476M , consensus 476.51M
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16:08 EDTRAXRackspace reports Q3 EPS 18c, consensus 16c
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15:44 EDTAMZNAmazon Web Services to hold a conference
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15:26 EDTRAXNotable companies reporting after market close
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13:47 EDTRAXRackspace technical comments before earnings
The shares have broadly outperformed in the prior three months, trading up over 16%. Since a bearish gap down in September, the stock has been trending up. A look at a 1-year chart shows the importance of the $40 level. It has been touched as resistance several times over that interval, but without being able to break through for long. On stronger than expected news, a move to the $40 area would seem probable. If the news or outlook is sufficiently strong, there could be a breakout above $40. Such a breakout given the length of time the $40 area has been resistance would be long-term bullish for price. Additional upside objectives above $40 would be at $42.09 and then at $43.83. If the news is worse than expected, there are several points of support that could be tested as downside objectives: $34.70, $32.36, and $30.74. A move down through all of the levels noted would retrace the advance made in recent months nearly completely.
12:45 EDTGOOGFullscreen to acquire Rooster Teeth, terms not disclosed, Reuters reports
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07:11 EDTGOOGOpen Mobile Media to hold a summit
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06:04 EDTGOOGGoogle's same-day delivery head leaves for Uber, Re/code reports
The head of Google Express' same-day delivery service, Tom Fallows, has left the company to join Uber, Re/code reported on Friday, citing sources. Reference Link
November 8, 2014
14:03 EDTAMZNJefferies software and internet analysts hold a dinner meeting
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