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Stock Market & Financial Investment News

News Breaks
July 2, 2014
08:57 EDTEMC, IBM, CSCO, HP, CTL, RAXRackspace 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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May 26, 2015
07:17 EDTIBMConsumer Electronics Association to hold a conference
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May 25, 2015
12:55 EDTIBMQAD selects IBM cloud to expand services for Australian, New Zealand clients
QAD (QADA, QADB) announced it has chosen IBM’s (IBM) Cloud Centre in Sydney, Australia to expand hosting options for QAD Cloud ERP customers. The expansion of data center services is in response to demand from Australian and New Zealand companies transitioning from on premise ERP to Cloud ERP.
May 22, 2015
06:00 EDTCSCOJohn McCain: Cisco deserves to be investigated over Russia deals, Buzzfeed says
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May 21, 2015
15:10 EDTIBMEarnings Watch: HP buys Aruba, forms Chinese joint venture with split nearing
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11:39 EDTEMCNetApp hits 52-week low after results, outlook miss expectations
Shares of storage company NetApp (NTAP) are falling after the company’s fourth quarter results and first quarter outlook significantly trailed analysts’ consensus estimates. WHAT'S NEW: Yesterday, NetApp reported Q4 adjusted earnings per share of 65c and revenue of $1.54B, trailing analysts’ consensus estimates of 72c and $1.59B, respectively. The company raised its quarterly dividend 9% to 18c per share. It also announced a “realignment” that will be implemented through the end of 3Q16. As part of the realignment, NetApp expects to reduce worldwide headcount by approximately 500 employees. The company expects to incur aggregate charges of approximately $25M-$35M for employee terminations and other costs associated with the realignment. WHAT’S NOTABLE: Looking ahead to Q1, NetApp forecast adjusted EPS of 20c-25c and revenue of $1.275B-$1.375B, well below the consensus of 60c and $1.46B, respectively. On the company’s conference call, management said it sees a return to a growth trajectory in second half of FY16. OEM revenue ended at less than 10% of FY15 net revenues and normalized to a level of revenue that the company will no longer discuss separately, management stated, adding that the company is well positioned for the era of cloud computing. They expect to reduce the company’s share count by another 5%, and see operating margins back in range in the second half of the year. ANALYST REACTION: This morning, JP Morgan, Cantor, Summit Research and Needham all downgraded NetApp following its Q4 report. JPMorgan went to Underweight on NetApp, citing the "tough" Cluster ONTAP product transition after the company's Q1 revenue guidance missed expectations. The firm cut its price target for shares to $29 from $35. Cantor Fitzgerald's Brian White downgraded NetApp to Hold from Buy, citing execution issues with the product transition and secular challenges for the storage market, and cut his price target for shares to $35 from $43. Last night marked the seventh time in eight quarters that NetApp missed estimates, Summit Research noted. PRICE ACTION: In late morning trading, NetApp fell $4.17, or about 12%, to $31.16 on nearly four times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $30.90. Including today's pull back, the shares have lost approximately 10% over the past 12 months. OTHERS TO WATCH: Other companies in the in the storage space include EMC Corporation (EMC), Dot Hill Systems (HILL) and Nimble Storage (NMBL).
08:47 EDTCSCOCisco to participate in a tech talk with Goldman Sachs
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07:25 EDTHPUBS to hold a conference
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May 20, 2015
09:03 EDTRAXRackspace extends contributor agreement with CERN openlab
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08:43 EDTCSCOCisco CFO says business in Europe improved; China, Russia still challenging
Cisco CFO Kelly Kramer spoke on CNBC.
08:41 EDTCSCOCisco CFO sees potential for acquistions in security
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08:27 EDTIBMIBM unit sale to Lenovo raises saftey concerns for Navy, WSJ reports
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05:57 EDTIBMSAP CEO says Salesforce unlikely to be acquired, Reuters reports
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May 19, 2015
14:31 EDTCSCOCovisint expands strategic relationship with Cisco, General Motors
Covisint (COVS) announced that it has reached a definitive agreement with Cisco (CSCO) to use the Covisint platform to power General Motors (GM) OnStar and SupplyPower through 2020. Under the terms of this five-year, non-cancelable contract, GM will materially increase their use of the Covisint platform to support growth in these solutions. This economically favorable transaction is a major milestone in the strategic partnership with Cisco, and a win for General Motors, Cisco and Covisint.
13:05 EDTIBMSalesforce deal talks may have 'died down,' dealReporter says
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09:03 EDTIBMIBM and United Business Group partner to accelerate hybrid cloud adoption
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07:53 EDTRAXRackspace should be bought on weakness, says Oppenheimer
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07:36 EDTCSCOAutomakers to start V2V car rollouts with spectrum at a premium, WSJ says
General Motors' (GM) upcoming Cadillac CTS is the only car firmly scheduled to launch in the U.S. with vehicle-to-vehicle communications, or V2V, but the industry has promised that V2V will revolutionize safety and Cisco (CSCO) joined automakers earlier this month to brief the FCC on plans to test airwave sharing soon, said The Wall Street Journal. However, cable and telecom companies are pressuring carmakers to give up a part of the airwaves marked for V2V to be available for broader use, the report added. Publicly traded automakers include Fiat Chrysler (FCAU), Ford (F), Honda (HMC), Toyota (TM) and Volkswagen (VLKAY), while cable and telecom companies include Verizon (VZ), AT&T (T), Sprint (S), T-Mobile (TMUS), Comcast (CMCSA), Time Warner Cable (TWC) and Charter (CHTR). Reference Link
07:34 EDTIBMIBM invests in WayBlazer and Sellpoints
IBM announced two new investments in WayBlazer and Sellpoints to advance online travel and shopping apps powered by Watson. The announcement is part of IBM's $100M commitment to drive new innovations and business solutions that build on Watson and follows the company's recent investments in Modernizing Medicine and Pathway Genomics. The financial terms of IBM's investments were not disclosed.
May 18, 2015
09:36 EDTCSCOActive equity options trading on open
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07:27 EDTIBM, EMCJPMorgan to hold a conference
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