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Stock Market & Financial Investment News

News Breaks
July 2, 2014
08:57 EDTRAX, HP, IBM, CTL, CSCO, EMCRackspace may be putting pressure on potential buyers, says Wells Fargo
Wells Fargo finds it possible that Rackspace (RAX) could be considering a move to go private as reported this morning by TechCrunch, but it finds it more likely that the company is trying to put pressure on potential buyers. Wells notes that TechCrunch sources stated Rackspace received bids from HP (HP) and IBM (IBM), and that the article also listed CenturyLink (CTL), Cisco (CSCO), Dell and EMC (EMC) as other potential bidders. The firm says a going private transaction is possible for Rackspace given the strength of its balance sheet. Wells has an Outperform rating on the stock.
News For RAX;HP;IBM;CTL;CSCO;EMC From The Last 14 Days
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September 11, 2014
10:00 EDTHPOn The Fly: Analyst Upgrade Summary
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07:35 EDTHPHelmerich & Payne upgraded to Buy from Hold at Argus
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07:07 EDTEMCEMC to explore selling VMware stake, NY Post reports
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September 10, 2014
11:23 EDTRAXOptions with increasing implied volatility
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September 9, 2014
12:08 EDTRAXOptions with increasing implied volatility
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08:27 EDTCTL, RAXCenturyLink could buy Rackspace for under $50/share, says Citigroup
Citigroup believes CenturyLink (CTL) could "financially digest" a potential acquisition of Rackspace (RAX) under $50 per share, using up to 50% in cash. Citi says that based on its initial basis, it would take a neutral view for a possible buyout under $40 per share, while adding that CenturyLink could trade lower if it were to pay more than $50 for Rackspace. Citi has a Neutral rating on CenturyLink with a $40 price target.
08:03 EDTIBMAspera, EVS and Elemental deploy HD live video streaming cloud system
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07:52 EDTCTL, RAXCenturyLink could be interested in Rackspace at right price, says UBS
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07:18 EDTHPStephens to hold an investor trip
Energy: Oilfield Services Investor Plane Trip travels throughout Texas and Oklahoma on September 9-10.
07:17 EDTCSCOThe Wireless Association to hold a conference
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07:05 EDTEMCEMC Corporation to hold a summit
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05:36 EDTEMCVMware, Capgemini announce strategic partnership
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September 8, 2014
16:18 EDTCTL, RAXOn The Fly: Closing Wrap
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11:24 EDTCTL, RAXRackspace trades higher following report CenturyLink in talks to buy company
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10:58 EDTCTL, RAXCenturyLink would need to issue stock, raise debt to buy Rackspace, Re/code says
Following a Bloomberg report that said CenturyLink (CTL) is interested in buying Raxspace (RAX), Re/code's Arik Hesseldahl noted that CenturyLink has "practically no cash" and would have to issue stock and likely take on "significant debt" to make such an acquisition, though the author also noted that CenturyLink has a history of structuring such deals. However, Hesseldahl believes Rackspace remaining independent is still the "more likely scenario" than the company being bought. Reference Link
10:24 EDTRAXRackspace moves to resistance test on takeover speculation report
Bloomberg yesterday said in a report that sources indicated CenturyLink (CTL) was looking to acquire Rackspace Hosting (RAX). At the current price of $39.21, the stock is just under the $40 level which has been overhead resistance in the trading range in place since late last year. Support is at $38.28. A breakout above $40 would be bullish for future price.
09:12 EDTRAX, CTLOn The Fly: Pre-market Movers
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08:58 EDTCTL, RAXRackspace risk/reward remains compelling, says Wells Fargo
Wells Fargo says that even with some takeout speculation being priced into Rackspace (RAX)shares today following reports that CenturyLink (CTL) is in talks to buy the company, the risk/reward on the stock remains compelling. Wells believes Rackspace either gets acquired at a premium or stays independent and announces a share buyback of $900M. The firm keeps an Outperform rating on the name.
08:45 EDTEMC, CSCONimble Storage, Arista, CommVault recommnded on M&A at Pacific Crest
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08:36 EDTRAX, CTLRackspace Hosting volatility expected to move on acquisition report
Rackspace Hosting (RAX) volatility is expected to move on CenturyLink (CTL) looking to acquire says Bloomberg, citing sources. Overall option implied of 37 is below its 26-week average of 46 according to Track Data, suggesting decreasing price movement.
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