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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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September 16, 2014
19:18 EDTMSFTMicrosoft to add Kraft CFO Teri List-Stoll, Visa CEO Charles Scharf to board
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19:16 EDTMSFTMicrosoft raises dividend 11% to 31c per share
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18:59 EDTMSFTMicrosoft to add Kraft CFO List-Stoll, Visa CEO Scharf to board, Bloomberg says
Microsoft board members Marquardt and Dublon are retiring from the board, according to Bloomberg, citing an emailed press release from the company.
18:54 EDTMSFTMicrosoft raises dividend 11% to 31c per share, Bloomberg says
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18:30 EDTRAXOn The Fly: After Hours Movers
UP AFTER EARNINGS: Apogee Enterprises (APOG), up 5.6% after reporting second quarter results and raising fiscal 2015 guidance. ALSO HIGHER: InspireMD (NSPR), up 18.5% after reporting positive trial results for CGuard... Boeing (BA), up marginally after NASA awarded the company with a $4.2B contract for commercial spaceflight to the International Space Station... U.S. Steel (X), up 7.9%% after updating third quarter outlook. DOWN AFTER EARNINGS: Adobe (ADBE), down 4.5% following third quarter results. ALSO LOWER: Rackspace Hosting (RAX), down 16.7% after ending strategic review and deciding to stay independent... Sunoco Logistics Partners (SXL), down 3.9% after filing to sell 7.7M shares of common stock... Aratana Therapeutics (PETX), down 7.8% after filing to sell common stock.
16:56 EDTRAXRackspace says goal during evaluation was maximizing shareholder value
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16:53 EDTRAXRackspace says will not do share buybacks at this time
Company says wants to remain flexible and that will consider share buybacks in the future There are acquisitions out there that they may prefer doing in cash. Comments from Rackspace conference call.
16:26 EDTRAXRackspace says on track for 'strong' Q3, 'comfortable' with guidance ranges
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16:23 EDTRAXRackspace falls 17.5% after ending review, deciding to stay independent
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16:22 EDTRAXRackspace to remain independent, ends review of alternatives
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16:20 EDTRAXRackspace to remain independent, ends review of alternatives
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16:17 EDTRAXRackspace names Taylor Rhodes as CEO
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16:00 EDTAMZNOptions Update; September 16, 2014
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14:02 EDTMSFTMicrosoft volatility flat, shares near fresh 14-year high
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10:37 EDTMSFTMicrosoft weighs German-only cloud platform, Datacenter Dynamics reports
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09:59 EDTMSFTOn The Fly: Analyst Upgrade Summary
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09:07 EDTMSFTMicrosoft to launch Microsoft Dynamics CRM 2015 in Q4
Microsoft on Tuesday announced that Microsoft Dynamics CRM 2015, as well as updates to its Microsoft Dynamics CRM Online and Microsoft Dynamics Marketing services, will be generally available in the Q4.
07:57 EDTMSFT, AMZNFBN Securities to hold a tour
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07:19 EDTMSFTCompanies' share buybacks at fasttest clip since 2007, WSJ reports
Companies are buying back their own shares at its fastest pace since the financial crisis to fuel a stock rally, reports the Wall Street Journal. According to Birinyi Associates, companies have bought back $338.3B of stock in 1H14, the most since 2007. Citing an analysis by Barclays, companies with the largest buyback programs by dollar value have outperformed the broader market by 20% since 2008. Reference Link
06:34 EDTAMZNBoeing, Lockheed ally with Amazon CEO on rocket engine, Reuters says
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