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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 20, 2014
07:58 EDTMSFTBallmer stepping down a positive for Microsoft, says FBR Capital
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06:40 EDTAMZNAmazon.com to launch China e-commerce hub, WantChinaTimes says
Amazon will launch an e-commerce hub in the Shanghai Pilot Free Trade Zone at the end of September, according to WantChinaTimes, which cited a report in Chinese-language news agency the Paper. The hub will enable Amazon to bring goods from around the world to China, and to sell China's goods to buyers around the world, WantChinaTimes explained. Reference Link
06:36 EDTMSFTIliad speaks to Google, Microsoft regarding T-Mobile offer, NY Post says
After Iliad's (ILIAF) surprise bid for T-Mobile (TMUS) was rejected, the firm is now in contact with , personnel at Google (GOOG) and Microsoft (MSFT) about working together to come up with a larger offer for the company, according to the New York Post, citing a "well-placed" source. Reference Link
06:02 EDTAMZNAmazon.com implied volatility of 21 at lower end of index mean range
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August 19, 2014
17:14 EDTMSFTOn The Fly: Closing Wrap
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14:12 EDTMSFTBallmer steps down from Microsoft board, sees holding shares
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12:45 EDTRAXRackspace advances after Blue Harbour takes activist stake
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12:21 EDTRAXRackspace rises on activist stakes, levels to watch
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11:25 EDTMSFTHTC unveils the HTC One for Windows
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09:07 EDTRAXOn The Fly: Pre-market Movers
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08:35 EDTRAXRackspace may adopt more shareholder friendly structure, says Wells Fargo
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06:57 EDTAMZNAmazon.com implied volatility of 22 at lower end of index mean range
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August 18, 2014
18:21 EDTRAXOn The Fly: After Hours Movers
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17:41 EDTRAXBlue Harbour looks forward to ongoing dialogue with Rackspace on alternatives
Blue Harbour Group, which reported that it owns approximately 9.1M shares or 6.4% of Rackspace Hosting, issued the following statement: Todd R. Marcy, a Managing Director of Blue Harbour, stated, "Rackspace has built an incredibly valuable business with excellent long-term prospects that we believe are not reflected in the company's current share price. We believe the Board and management team are committed to closing this significant valuation gap. We look forward to a constructive, ongoing dialogue on the various alternatives Rackspace has to unlock and deliver meaningful shareholder value, whether as a standalone independent entity or pursuant to the current strategic review process."
16:43 EDTRAXBlue Harbour reports 6.4% stake in Rackspace
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16:30 EDTRAXActivist investor Blue Harbour builds Rackspace stake to 6.5%, WSJ says
Activist investor Blue Harbour Group which is known for holding talks with companies rather than "public fights," has accumulated a 6.5% stake in Rackspace, says the Wall Street Journal. Rackspace, a cloud-computing company, has lately been reviewing its strategic options, added the Wall Street Journal. Reference Link
16:00 EDTAMZNOptions Update; August 18, 2014
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13:12 EDTMSFTMicrosoft getting ready to launch Chromebook challengers, 9to5Google says
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09:35 EDTAMZNActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AMZN DG TSLA GILD FB ABX WFC C
08:47 EDTRAXRaymond James to hold a summit
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