New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 13, 2013
15:42 EDTVMW, BCOV, RAX, ARUNCloud computing stocks lower after Rackspace Q4 results disappoint
A number of names associated with the cloud computing space are trading lower after Rackspace (RAX) reported Q4 results that missed analyst expectations last night. Rackspace, an open cloud company that offers enterprise-level hosting services to businesses, reported Q4 EPS of 21c against analyst estimates of 22c, on revenue of $352.9M against analyst estimates of $355.42M. Although revenue rose 25% in Q4 year over year, the rate of growth is seen as decelerating for the company. Stifel Nicolaus downgraded the company this morning to Hold from Buy, citing the slowdown in growth. In late day trading, Rackspace is down over 20% to $59.87. Other cloud computing names trading lower today include Brightcove (BCOV), down 1.6% to $6.74; Aruba Networks (ARUN), down 4.7% to $21.16; and VMware (VMW), down 3.08% to $74.35.
News For RAX;VMW;ARUN;BCOV From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
December 19, 2014
11:54 EDTVMWRed Hat soars to 52-week high after beat and raise quarter
Shares of open source software solutions provider Red Hat (RHT) are rallying after the company’s third quarter results surpassed analysts’ consensus estimates and it raised its outlook for fiscal 2015. WHAT'S NEW: Last night, Red Hat reported Q3 adjusted earnings per share of 42c and revenue of $455.9M, topping analysts’ consensus estimates of 40c and $451.39M, respectively. Q3 subscription revenue was $395M, up 15% year-over-year, while operating cash flow of $133M was up 40% year-over-year. CFO Charlie Peters noted that strong performance in the quarter was driven by outstanding sales execution. He said, “performance this quarter with large deals was exceptional, setting new records in number of deals over $5M in a quarter and deals over $10M in a Q3.” Peters also announced his intention to retire in the next twelve months. WHAT’S NOTABLE: Looking ahead to Q4, Red Hat forecast EPS of 40c-41c and revenue of $456M-$459M, compared to consensus of 41c and $459.39M, respectively. The company raised its outlook for FY15 EPS to $1.57-$1.58 from $1.53-$1.55, versus consensus of $1.54. It also boosted the bottom end its FY15 revenue outlook to $1.78B-$1.79B from $1.77B-$1.79B, compared to the consensus of $1.78B. ANALYST REACTION: This morning, four research firms - Piper Jaffray, Stifel, UBS, and Oppenheimer - all raised their respective price targets on Red Hat. Each cited the company’s stronger than expected Q3 results. All four maintained a Buy or equivalent rating on the shares and among the four Oppenheimer took its price target up to the highest level, increasing its target on Red Hat to $80 from $74. PRICE ACTION: In late morning trading, Red Hat rose $6.98, or 11.4%, to $68.48 on nearly three times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week high of $70.13. Including today's advance, the shares have gained approximately 40% over the past 12 months. OTHERS TO WATCH: Other companies in the software and cloud space include Oracle (ORCL), LogMeIn (LOGM) VMware (VMW), and Microsoft (MSFT).
10:17 EDTRAXOn The Fly: Analyst Initiation Summary
Subscribe for More Information
06:48 EDTRAXRackspace coverage resumed with a Buy at Stifel
Target $56.
December 16, 2014
13:19 EDTVMWResearch firm sees Amazon spinning off AWS in 2015, CNBC reports
Subscribe for More Information
11:31 EDTRAXRackspace looks to reduce reliance on Intel chips, Bloomberg says
Rackspace Hosting (RAX), which has been testing server computers based on IBM (IBM) Power chip designs, is looking to reduce its reliance on Intel (INTC) chips as it shifting to some server computers based on modified International Business Machine processors, says Bloomberg. Reference Link
December 12, 2014
12:26 EDTVMWPiper Jaffray bearish, RBC bullish on VMware outlook
Subscribe for More Information
10:01 EDTRAXOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BreitBurn Energy (BBEP) downgraded to Hold from Buy at Wunderlich... CIBC (CM) downgraded to Underperform from Neutral at Credit Suisse... Costco (COST) downgraded to Neutral from Buy at Janney Capital... Discovery (DISCA) downgraded to Sector Perform from Outperform at RBC Capital... Emerald Oil (EOX) downgraded to Neutral from Accumulate at Global Hunter... Goodrich Petroleum (GDP) cut to Underweight on lower oil at JPMorgan... Hain Celestial (HAIN) downgraded to Sector Perform from Outperform at RBC Capital... Hovnanian (HOV) downgraded to Neutral from Buy at Compass Point... Mindray Medical (MR) downgraded to Underweight from Equal Weight at Morgan Stanley... Morgan Stanley (MS) downgraded to Neutral from Buy at Buckingham... Oracle (ORCL) resumed with a Neutral from Overweight at Piper Jaffray... Rackspace (RAX) downgraded to Underperform from Neutral at DA Davidson... Zayo Group (ZAYO) downgraded to Neutral from Buy at BTIG.
08:10 EDTRAXRackspace downgraded to Underperform from Neutral at DA Davidson
Subscribe for More Information
06:34 EDTVMWVMware resumed with an Underweight from Overweight at Piper Jaffray
Subscribe for More Information
December 11, 2014
14:55 EDTRAXRackspace management to meet with William Blair
Subscribe for More Information
07:58 EDTVMWVMware pullback creates attractive entry point, says RBC Capital
After meeting with VMware's management, RBC Capital continues to believe that the company has significant cross selling opportunities and can benefit from a $60B data center total available market. The firm believes that several of the company's markets could reach a positive turning point in 2015. RBC keeps an Outperform rating on the shares.
07:34 EDTRAXBarclays to hold a bus tour
Subscribe for More Information
06:01 EDTARUNAruba Networks management to meet with Northland
Subscribe for More Information
December 8, 2014
08:02 EDTARUNAruba says NHS replaces Cisco network with Aruba wireless infrastructure
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use