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Stock Market & Financial Investment News

News Breaks
April 4, 2014
10:09 EDTRAXRumor: Rackspace moves up on renewed takeover chatter
News For RAX From The Last 14 Days
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July 21, 2014
07:15 EDTRAXO'Reilly to hold a conference
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July 15, 2014
11:07 EDTRAXRackspace new cloud pricing a differentiator, says Wells Fargo
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09:12 EDTRAXRackspace introduces new service-based pricing model
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July 14, 2014
10:00 EDTRAXOn The Fly: Analyst Upgrade Summary
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08:18 EDTRAXRackspace upgraded to Neutral from Underperform at DA Davidson
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July 11, 2014
15:00 EDTRAXChance of Rackspace strategic buyer lower if CenturyLink out, says Wells Fargo
After BrightWire said that CenturyLink's (CTL) interest in Raxspace (RAX) had faded, Wells Fargo cautioned that it is difficult to judge the validity of sources in "articles such as this." However, Wells added that if CenturyLink is actually out, that the possibility of Raxspace finding a strategic buyer could be "meaningfully" lower. The firm keeps it Outperform rating on Raxspace, citing its fundamentals.
14:08 EDTRAXRackspace drawing 'tepid' interest from potential buyers, BrightWire says
Rackspace (RAX) is receiving a "tepid" response from potential buyers, according to BrightWire, citing three sources familiar with the matter. One industry source said CenturyLink (CTL) made an initial overture, but a banking source said the interest was only casual and soon faded, according to the report. Reference Link
July 10, 2014
18:02 EDTRAXWells sees 'shrinking list' of strategic buyers for Rackspace
Wells Fargo sees a "shrinking list" of potential buyers for Rackspace (RAX), with only remaining HP (HPQ) and CenturyLink (CTL) remaining in its opinion. Wells believes Rackspace going private through a leveraged buyout is a possibility, but it thinks such an outcome is a lower probability given the required return assumptions and implied exit multiple. The firm believes the market has correctly assumed a high probability that Rackspace will not undergo a strategic event. However, Wells thinks the potential for a value creating event limits downside in the name. It keeps an Outperform rating on the stock.

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