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May 16, 2014
16:18 EDTRAX, RHT, VMW, EMC, CSCO, AMZN, GOOG, CHK, JWN, JCP, WWE, VZ, HPQOn The Fly: Closing Wrap
Stocks on Wall Street were higher in the last session of the week, breaking their streak of two consecutive lower finishes. The averages moved back and forth across the flat line in the early hours of the session before crossing into positive ground for good in the late afternoon. Economic reports released early in the day were mixed, with housing starts growth coming in well above expectations and a consumer confidence reading coming in below the consensus forecast. ECONOMIC EVENTS: In the U.S., housing starts rose 13.2% to a 1.07M unit pace in April, which was well above expectations. The number of building permits issued also beat the consensus forecast, rising 8% to a pace of 1.08M. The University of Michigan consumer confidence index fell to 81.8 in the first May release, falling short of expectations for a modest rise to 84.3. COMPANY NEWS: Shares of Rackspace (RAX) advanced $5.44, or 17.73%, to $36.12 after the cloud computing company disclosed last night that it had been approached by a number of other companies that expressed interest in exploring strategic relationships. Rackspace said that it had hired Morgan Stanley (MS) to help evaluate the proposals and explore its options. In a note to investors earlier today, Credit Suisse wrote that Rackspace would be attractive to multiple companies, including Cisco (CSCO), Hewlett-Packard (HPQ), and Dell. Piper Jaffray said in its own note that the list of potential buyers for Rackspace is "extensive," also listing Cisco, but adding Google (GOOG), Amazon.com (AMZN), EMC (EMC), VMware (VMW) and Red Hat (RHT) as other potential suitors... Verizon (VZ) shares rose $1.11, or 2.31%, to $49.07 after filings released last night showed that a number of hedge fund managers, most notably Warren Buffet, had taken up new positions in the telecommunications giant. MAJOR MOVERS: Among the notable gainers was embattled retailer J.C. Penney (JCP), whose shares rose $1.36, or 16.25%, to $9.73 following its better than expected quarterly sales report. Also higher was luxury department store operator Nordstrom (JWN), which advanced $9.06, or 14.73%, to $70.55 after the company reported first quarter earnings per share that exceeded expectations and said it will seek a partner for credit card receivables. Among the noteworthy losers was WWE (WWE), which plunged $8.66, or 43.45%, to $11.27 after the company signed a new TV deal with NBC that will reportedly pay it much less than it had expected and the shares were downgraded at Benchmark Co. to Hold from Buy. Also lower were shares of Chesapeake Energy (CHK), which fell $1.35, or 4.66%, to $27.64 after announcing that it will spin off its Oilfield Services business, among other asset moves, and lowered its FY14 production, operating cash flow and dividend payments outlooks. INDEXES: The Dow was up 44.50, or 0.27%, to 16,491.31, the Nasdaq was up 21.29, or 0.52%, to 4,090.59, and the S&P 500 was up 7.01, or 0.37%, to 1,877.86.
News For RAX;VZ;WWE;JCP;JWN;CHK;GOOG;AMZN;CSCO;EMC;VMW;RHT;HPQ From The Last 14 Days
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August 19, 2014
06:57 EDTAMZNAmazon.com implied volatility of 22 at lower end of index mean range
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06:50 EDTGOOGImages show impending Google music subscription service, Android Police says
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06:13 EDTGOOGContinental AG hires Google's Seval Oz to lead new division, WSJ reports
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05:57 EDTGOOGGoogle to offer accounts to children under 13, WSJ reports
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August 18, 2014
18:33 EDTVZSprint introduces Sprint Family Share Pack data plan, doubles high-speed data
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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 EDTGOOG, HPQMicrosoft getting ready to launch Chromebook challengers, 9to5Google says
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11:57 EDTJCPStocks with call strike movement; JCP GPRO
J.C. Penney (JCP) November 11 call option implied volatility decreased 4% to 43, GoPro (GPRO) January 48 call option implied volatility decreased 8% to 45 according to IVolatility.
10:01 EDTHPQOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Achillion (ACHN) upgraded to Buy from Hold at Deutsche Bank... CNOOC (CEO) upgraded to Neutral from Underperform at Credit Suisse... Dollar General (DG) upgraded to Buy from Neutral at Sterne Agee... Equity Residential (EQR) upgraded to Hold from Underperform at Jefferies... HMS Holdings (HMSY) upgraded to Overweight from Equal Weight at First Analysis... HP (HPQ) upgraded to Buy from Neutral at Monness Crespi... Halcon Resources (HK) upgraded to Buy from Hold at MLV & Co.... KapStone (KS) upgraded to Buy from Hold at Deutsche Bank... Sportsman's Warehouse (SPWH) upgraded at RW Baird... Westlake Chemical (WLK) upgraded to Neutral from Reduce at SunTrust... WisdomTree (WETF) upgraded to Neutral from Sell at Citigroup... Zimmer (ZMH) upgraded to Outperform from Market Perform at William Blair.
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 EDTVZ, RAXRaymond James to hold a summit
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07:41 EDTHPQHP upgraded to Buy from Neutral at Monness Crespi
07:39 EDTHPQHP remains a top pick ahead of Q3 results at Deutsche Bank
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06:44 EDTCHKNatural gas companies worried about regulatory outlook, The Hill says
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August 17, 2014
18:10 EDTJWNInvestors should buy Nordstrom over Macy's, Barron's says
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14:05 EDTGOOGGoogle acquires digital photo analysis startup Jetpac
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