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Stock Market & Financial Investment News

News Breaks
May 13, 2014
11:27 EDTRAX, MSFT, AMZNRackspace rallies after results top expectations
Shares of open cloud company Rackspace (RAX) are advancing after the company's first quarter results topped analysts' consensus estimates. WHAT'S NEW: Last night, Rackspace reported Q1 earnings per share of 18c and revenue of $421M, topping expectations of 12c and $419.53M, respectively. WHAT'S NOTABLE: The company forecast Q2 revenue of $434M-$440M, compared to consensus of $435.53M. It also said it was on track to deliver 15%-18% year-over-year revenue growth. The consensus estimate for its FY14 revenue is $1.78B. Rackspace also noted it has no immediate plans for share repurchases. ANALYST REACTION: This morning,research firm Cowen raised its price target on Rackspace to $57 from $52. The firm said the company's margins were above guidance and Cowen expects sentiment to improve as Rackspace launches a more aggressive marketing campaign. Cowen continues to believe the company has a misunderstood story and that its shares offer a compelling risk/reward. Another firm, Stephens, lowered its price target on the shares to $41 from $59 due to multiple compression in the cloud space. However, Stephens said Rackspace reported a "solid" quarter and the firm maintained its Overweight rating on the stock. Wells Fargo thinks the company's slightly better than expected Q2 guidance was positive and keeps an Outperform rating on the stock, but the firm cut its price target range on the shares to $38-41 from $48-$51. PRICE ACTION: In late morning trading, Rackspace rose $2.28, or 8.3%, to $29.81 on more than twice its average daily trading volume. Despite today's advance, the stock is down about 28% over the past twelve months. OTHERS TO WATCH: Rackspace's cloud offerings compete with those of Microsoft's (MSFT) Windows Azure and Amazon's (AMZN) Web Services cloud platform.
News For RAX;MSFT;AMZN From The Last 14 Days
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August 11, 2014
16:03 EDTRAXRackspace sees Q3 revenue $454M-$461M, consensus $454.23M
The company expects Adjusted EBITDA margin to be in the range of 31%-33% in the third quarter.
16:01 EDTRAXRackspace reports Q2 EPS 16c, consensus 16c
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16:00 EDTAMZNOptions Update; August 11, 2014
iPath S&P 500 VIX Short-Term Futures down 1.33 to 31.90. Option volume leaders: AAPL KMI MNKD PBR AMZN SCTY TWTR TSLA according to Track Data.
15:32 EDTRAXNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Ventas (VTR), consensus $1.09; Nuance Communications (NUAN), consensus 27c; Intercept Pharmaceuticals (ICPT), consensus (12c); Rackspace Hosting (RAX), consensus 16c; Opko Health (OPK), consensus (9c); Mindray Medical (MR), consensus 54c; Chimera Investment (CIM), consensus 9c; Globalstar (GSAT), one estimate (4c); 51job (JOBS), consensus 32c; Dealertrack Technologies (TRAK), consensus 373c; Caesars Entertainment (CZR), consensus ($1.19); Towerstream (TWER), consensus (10c); Resolute Energy (REN), consensus 1c; Forest Oil (FST), consensus (2c).
15:19 EDTMSFTMicrosoft schedules event likely focused on Lumia phones, WMPoweruser says
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13:16 EDTRAXRackspace technical comments before earnings
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09:36 EDTAMZNActive equity options trading on open
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06:35 EDTMSFTMicrosoft Devices unveils low-cost Nokia 130 phone
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August 10, 2014
15:44 EDTAMZNAmazon urges customers to express opinions on e-book prices with Hachette
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15:21 EDTAMZNAmazon stops preorders of some Disney movie titles, WSJ says
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August 8, 2014
08:42 EDTMSFTMicrosoft has made strong progress in cloud, says Pacific Crest
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08:32 EDTMSFTVMware, others could benefit from increased cloud adoption, says Pacific Crest
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07:10 EDTAMZNAmazon executive defends $2B investment in India, WSJ says
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August 7, 2014
18:10 EDTAMZNHachette drops bid for Perseus Books, reports WSJ
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09:49 EDTAMZNAmazon readying to launch grocery service in New York area, Re/code says
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09:36 EDTAMZNActive equity options trading on open
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07:43 EDTRAXRackspace August volatility elevated into Q2 and outlook
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06:36 EDTAMZNGoogle, Barnes & Noble launching same-day book delivery service, NY Times says
Google (GOOG) and Barnes & Noble (BKS) today will begin allowing consumers in three cities to order books carried by Barnes & Noble stores and have them delivered to their homes on the same day, according to The New York Times. Users will order the books on Google Shopping Express, and the service will compete with Amazon, the newspaper stated. Reference Link
06:33 EDTMSFTAnti-trust investigations in China reignite protectionism worries, Reuters says
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06:19 EDTMSFTMicrosoft in talks to open Fifth Avenue store, Daily News reports
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