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Stock Market & Financial Investment News

News Breaks
July 2, 2014
10:44 EDTEMC, CSCO, RAX, AMZN, IBM, VMW, GOOG, HPQRackspace surges after report on 'going private' talks
Shares of open cloud company Rackspace (RAX) are rising after a technology focused blog said the firm is in talks with a private equity company to figure out a deal that would take it private. WHAT'S NEW: TechCrunch reported that Rackspace has been involved in negotiations with a private equity company for an agreement that would take the company private. A source within Rackspace is quoted as saying that the pressures of being a public firm could be "too much," while another source told the blog that an official announcement regarding the deal could occur as soon as this week. The TechCrunch article added that Rackspace has received bids from both HP (HPQ), which was said to be offering up to $43 per share, and IBM (IBM), though the source added that IBM's offer "fell through." WHAT'S NOTABLE: On May 15, Rackspace announced that it had been approached by a number of other companies that expressed interest in exploring strategic relationships, including partnerships and acquisitions. Rackspace disclosed it had hired Morgan Stanley (MS) to evaluate the proposals and explore other alternatives. Afterwards, analysts from Credit Suisse, Piper Jaffray and JMP Securities gave their opinions regarding potential acquirers of Rackspace, listing HP, Cisco (CSCO), Google (GOOG), Amazon (AMZN), EMC (EMC), VMWare (VMW) and Red Hat (RHT) as among the many potentially interested or suitable matches. ANALYST REACTION: Wells Fargo analyst Gray Powell feels that Rackspace could be "seriously" contemplating a motion to go private. Due to the company's strong balance sheet, Powell notes that the move is possible, but he thinks it is more likely that the company is trying to pressure possible acquirers. Wells continues to maintain an Outperform rating on Raxspace shares. PRICE ACTION: During morning trading, Rackspace jumped $2.23 or 6.6%, to $35.98.
News For RAX;HPQ;IBM;CSCO;GOOG;AMZN;EMC;VMW From The Last 14 Days
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November 10, 2014
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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15:29 EDTCSCOCisco November volatility increases into Q1 and outlook
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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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10:28 EDTIBMIBM announces collaboration with with NVIDIA and Julich Supercomputing
IBM (IBM), in collaboration with NVIDIA (NVDA), and the Julich Supercomputing Center, part of the largest research center in Germany, announced plans for a new competency center to advance the creation and optimization of research applications on GPU-accelerated OpenPOWER compatible systems.
08:22 EDTCSCONetwork equipment makers slip after AT&T projects lower 2015 capital spending
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07:12 EDTIBM, CSCOCA Technologies to hold a conference
CA World 2014 is being held in Las Vegas on November 9-12.
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
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