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Stock Market & Financial Investment News

News Breaks
July 2, 2014
10:44 EDTRAX, HPQ, IBM, CSCO, GOOG, AMZN, EMC, VMWRackspace 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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July 10, 2014
18:08 EDTAMZNAmazon.com offer to Hachette dismissed by Authors Guild, WSJ says
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18:02 EDTHPQ, RAXWells sees 'shrinking list' of strategic buyers for Rackspace
Wells Fargo sees a "shrinking list" of potential buyers for Rackspace (RAX), with only remaining HP (HPQ) and CenturyLink (CTL) remaining in its opinion. Wells believes Rackspace going private through a leveraged buyout is a possibility, but it thinks such an outcome is a lower probability given the required return assumptions and implied exit multiple. The firm believes the market has correctly assumed a high probability that Rackspace will not undergo a strategic event. However, Wells thinks the potential for a value creating event limits downside in the name. It keeps an Outperform rating on the stock.
16:00 EDTAMZNOptions Update; July 10, 2014
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12:35 EDTAMZNFTC alleges Amazon billed parents for children's unauthorized in-app charges
Amazon has billed parents and other account holders for millions of dollars in unauthorized in-app charges incurred by children, according to a Federal Trade Commission complaint filed today in federal court. The FTC’s lawsuit seeks a court order requiring refunds to consumers for the unauthorized charges and permanently banning the company from billing parents and other account holders for in-app charges without their consent. According to the complaint, Amazon keeps 30% of all in-app charges. In its complaint, the FTC alleges that Amazon violated the FTC Act by billing parents and other Amazon account holders for charges incurred by their children without the permission of the parent or other account holder. Amazon’s setup allowed children playing these kids’ games to spend unlimited amounts of money to pay for virtual items within the apps such as “coins,” “stars,” and “acorns” without parental involvement.
11:44 EDTAMZNAmazon ends all book discounts in France, WSJ reports
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11:10 EDTAMZNAmazon Web Services announces file sharing tool Zocalo
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10:46 EDTGOOGYelp retreats after analyst says review growth slowed
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09:36 EDTAMZNActive equity options trading on open
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09:35 EDTGOOGRed Hat, Google collaborate on open standard for Docker containers at scale
Red Hat (RHT) and Google (GOOG) are collaborating to drive a new open standard around orchestrating Docker containers, a standard for application packaging in containerized environments, at scale for the management of cloud application deployments, Red Hat announced in a post to its corporate website. Reference Link
09:13 EDTHPQHP Western Digital Seagate to benefit from PC rebound, says RBC Capital
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07:47 EDTIBMIBM volatility up and into Q2
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07:46 EDTHPQHP awarded computing, servers contract by USAF
HP announced that the United States Air Force, or USAF, has issued a Quantum Enterprise Buy, or QEB, procurement for select HP business PCs and Workstations. Products that will be distributed as part of the procurement include a wide array of business desktop and notebook PCs, including the HP Compaq Pro 6305 SFF, HP Z230 Workstation, HP Z820 Workstation, HP ProBook 640 G1 and the HP ZBook Mobile Workstations. Products acquired through this QEB award will be distributed to USAF bases and facilities around the world.
07:32 EDTAMZNNews Corp. owned HarperCollins looks to bypass Amazon with new site, FT says
News Corp.'s (NWSA) book publishing unit, HarperCollins, relaunched its U.S. website and is now selling books directly to readers, putting it in competition with one of its largest retailers, Amazon.com (AMZN), reported Financial Times. Reference Link
06:36 EDTAMZNAmazon e-book plan leaves authors in dilemma, Bloomberg says
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06:26 EDTHPQ, GOOGTablet quarterly shipments fall for first time to 56M on year, DigiTimes says
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06:18 EDTHPQIDC: PC shipments in mature regions stabilizes market in Q2, DigiTimes
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06:13 EDTGOOGGoogle Ventures invests in Europe
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06:09 EDTAMZNAmazon Web Services partners with Cloudian
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05:49 EDTGOOGYelp review growth outpacing Google Plus, says Piper Jaffray
Piper Jaffray says its data shows that despite being a more mature platform, Yelp (YELP) continues to outpace Google Plus (GOOG) in terms of review growth. Yelp reviews over the past month have increased by 3% versus Google's up 2%, Piper says. The firm remains positive on Yelp shares with an Overweight rating and $80 price target.
05:24 EDTIBMIBM announces $3B cloud, big data systems research initiative
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