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Stock Market & Financial Investment News

News Breaks
May 13, 2014
11:27 EDTAMZN, MSFT, RAXRackspace 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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November 11, 2014
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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06:03 EDTAMZNQ4 global tablet shipments estimated at 74.5M units, DigiTimes reports
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05:59 EDTMSFTMicrosoft unveils first Lumia smartphone without Nokia name
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November 10, 2014
18:32 EDTRAXOn The Fly: After Hours Movers
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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 EDTRAX, MSFTRackspace 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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15:57 EDTMSFTWorldwide Business Research to hold a conference
ProcureCon for Digital & Marketing Services 2014 is being held in San Antonio on November 11-13.
15:44 EDTAMZNAmazon Web Services to hold a conference
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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.
07:23 EDTMSFTRBC Capital to hold a conference
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