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Stock Market & Financial Investment News

News Breaks
July 2, 2014
08:57 EDTCSCO, HP, CTL, RAX, EMC, IBMRackspace 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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November 12, 2014
15:29 EDTCSCONotable companies reporting after market close
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15:08 EDTEMC, CSCOEarnings Preview: Cisco reports amid analyst debate on break-up potential
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13:07 EDTCSCOPacific Crest remains cautious on Cisco
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11:55 EDTCSCOCisco November weekly 25 straddle priced for 4.4% move into Q1
11:51 EDTCSCOCisco technical comments before earnings
The stock has underperformed the broader averages in the past three months, falling over 1%. That lower performance would have been far worse if not for the recent uptrend off the mid-October lows. That rally helped to overcome the otherwise bearish head and shoulders that had developed on the daily chart and had completed at mid-October. In a long view, the current price action appears to put the shares either at a double top, or poised for a breakout that would results in four-year highs or more. The key level is at $26, not far from where the stock is currently trading. On better news or guidance, a move above $26 would seem highly probable and that would constitute a technical bullish breakout. Next resistance would be at $27.74 and then at $28.40. If the news is not as bullish as current price action suggests, the recent uptrend would probably be broken. It would only take a move below $24.50 for that to happen. Additional downside objectives might be at the following supports at $23.76, $22.43 and $21.94. A move down to or below $22 would confirm a major top was in place, which would have long-term bearish implications for price.
10:13 EDTCSCOEZchip expects revenue from Cisco to grow YoY in 2014
Comments taken from Q3 earnings conference call.
09:58 EDTCSCOCisco November volatility increases into Q1 and outlook
Cisco November weekly call option implied volatility is at 77, November is at 34, December is at 23, January is at 19, February is at 20; compared to its 26-week average of 23 according to Track Data, suggesting large near term price movement into the expected release of Q1 results after the market close on November 12.
07:48 EDTIBMWells Fargo to hold a conference
5th Annual Technology, Media & Telecom Conference is being held in New York on November 12-13.
07:13 EDTIBMIBM data solutions selected by Kenya Power
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06:03 EDTIBMAcacia Research enters into settlement and patent license agreement with IBM
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November 11, 2014
16:24 EDTRAXOn The Fly: Closing Wrap
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13:08 EDTIBMIBM CFO says not looking for big, transformative acquisitions
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12:46 EDTRAXOn The Fly: Midday Wrap
Stocks on Wall Street were little changed at midday, as the light economic calendar and bond markets being closed in observance of Veteran's Day make for a quiet tone to the market. The averages have remained close to the flat line throughout the morning, as the major averages undergo a day of consolidation near their record levels. ECONOMIC EVENTS: In the U.S., the National Federation of Independent Business' small business optimism index came in at 96.1, which was up from the prior 95.3 figure and roughly matched the consensus forecast. In Asia, Japan's Prime Minister Shinzo Abe said that the country's intended second sales tax hike will be delayed, according to government sources cited by Reuters. COMPANY NEWS: Chinese e-commerce giant Alibaba (BABA) generated record sales during the Chinese Singles Day holiday and a number of research firms initiated coverage of the stock with upbeat notes. Alibaba stated on its official corporate news Twitter feed that its final Singles Day shopping festival gross merchandise volume exceeded $9.3B and the company's Executive Chairman Jack Ma made headlines by stating that the company's Alipay finance services arm will "definitely" go public. Additionally, Oppenheimer initiated coverage of Alibaba with an Outperform rating in a note to investors last night and HSBC earlier today initiated coverage of Alibaba with an Overweight rating and a Street-high price target of $148 per share. Despite all of this, the stock appeared to have a "sell-the-news" reaction to the Singles Day event, as its shares fell about 3% in midday trading. MAJOR MOVERS: Among the notable gainers was Rackspace (RAX), which rallied 13.5% after the cloud computing service provider reported better than expected third quarter results and announced a $500M share repurchase plan. Also higher was ICU Medical (ICUI), which rose 14% and was upgraded at Roth Capital and Piper Jaffray following its second consecutive better than expected quarterly report. Among the noteworthy losers was Vivint Solar (VSLR), which tumbled over 21% after the company reported steeper than expected losses in its first quarterly report since coming public last month. Also lower following its first earnings report since coming public was e-commerce home goods retailer Wayfair (W), which dropped 13% despite posting revenues that beat the consensus forecast and Pacific Crest and Wells Fargo making positive comments on its results. INDEXES: Near midday, the Dow was down 9.89, or 0.06%, to 17,603.85, the Nasdaq was up 1.67, or 0.04%, to 4,653.29, and the S&P 500 was little changed at 2,038.15.
12:09 EDTRAXRackspace soars after Q3 results top estimates, $500M share buyback plan
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10:01 EDTCSCOInteractive Intelligence hires Jeff Platon as Chief Marketing Officer
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09:37 EDTRAXActive equity options trading
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08:42 EDTRAXRackspace buyback likely to push shares higher, says Needham
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08:42 EDTEMCEMC returns could be limited after potential spin off, says Bernstein
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08:13 EDTRAXRackspace reported strong Q3 results, says Oppenheimer
Oppenheimer believes that Rackspace's Q3 results showed very strong trends, and it thinks the company's revenue/EBITDA growth can reach high teen percentage levels in 2015-2016. The firm keeps a $62 price target and Outperform rating on the shares.
07:51 EDTRAXRackspace price target raised to $50-$52 from $42-$46 at Wells Fargo
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