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Stock Market & Financial Investment News

News Breaks
July 15, 2014
09:12 EDTRAXRackspace introduces new service-based pricing model
Rackspace announced a new strategy to deliver public cloud services to the market, stating that it enhanced its managed cloud service levels and launched a more transparent service-based pricing model. Both service levels --"Managed Infrastructure" and "Managed Operations"-- feature more services and expertise at lower total cost than companies would spend managing cloud operations on their own, Rackspace said. Rackspace said it offers two approaches to deliver its Managed Operations service level to customers: In one approach, Rackspace logs into the customer's servers to manage and, when necessary, help fix them; the other leverages Rackspace DevOps Automation Service, which manages a customer's infrastructure as code, to help it achieve faster deployments and streamlined operations. Additionally, customers on both managed cloud service levels will now receive Rackspace Cloud Monitoring at no charge. Rackspace's new pricing model applies to all new public cloud customers, and is optional for existing ones, the company said. Managed Infrastructure service level offers an hourly service level rate of $0.005/GB RAM, with a $50 per month minimum, plus standard infrastructure rates. Managed Operations service level offers an hourly service level rate of $0.02/GB RAM, with a $500 per month minimum, plus standard infrastructure rates. Rackspace also will continue to provide volume pricing discounts, the company noted.
News For RAX From The Last 14 Days
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November 24, 2014
10:00 EDTRAXOn The Fly: Analyst Downgrade Summary
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08:32 EDTRAXRackspace downgraded to Equal Weight at Stephens
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07:58 EDTRAXRackspace downgraded to Equal Weight from Overweight at Stephens
November 20, 2014
18:21 EDTRAXOn The Fly: After Hours Movers
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17:05 EDTRAXRackspace founder, Chairman Graham Weston purchases $2.5M of company stock
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November 19, 2014
10:00 EDTRAXOn The Fly: Analyst Initiation Summary
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05:36 EDTRAXRackspace initiated with an Overweight at Barclays
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November 17, 2014
12:03 EDTRAXOptions with decreasing implied volatility
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November 14, 2014
16:58 EDTRAXThird Point gives quarterly update on stakes
NEW STAKES: Alibaba (BABA), eBay (EBAY), Bed Bath & Beyond (BBBY), Shire (SHPG), and Parker Hannifin (PH). INCREASED STAKES: Actavis (ACT), Amgen (AMGN), EQT (EQT), Sensata (ST), Coca-Cola Enterprises (CCE). DECREASED STAKES: Williams Cos (WMB), Ally Financial (ALLY), Cheniere Energy (LNG), YPF (YPF), and FedEx (FDX). LIQUIDATED STAKES: AIG (AIG), T-Mobile (TMUS), Rackspace (RAX), Hertz (HTZ), and Citrix Systems (CTXS).
10:10 EDTRAXOptions with decreasing implied volatility
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November 13, 2014
10:44 EDTRAXOptions with decreasing implied volatility
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09:01 EDTRAXRackspace appoints Todd Cione as Chief Revenue Officer
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November 11, 2014
16:24 EDTRAXOn The Fly: Closing Wrap
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12:46 EDTRAXOn The Fly: Midday Wrap
Stocks on Wall Street were little changed at midday, as the light economic calendar and bond markets being closed in observance of Veteran's Day make for a quiet tone to the market. The averages have remained close to the flat line throughout the morning, as the major averages undergo a day of consolidation near their record levels. ECONOMIC EVENTS: In the U.S., the National Federation of Independent Business' small business optimism index came in at 96.1, which was up from the prior 95.3 figure and roughly matched the consensus forecast. In Asia, Japan's Prime Minister Shinzo Abe said that the country's intended second sales tax hike will be delayed, according to government sources cited by Reuters. COMPANY NEWS: Chinese e-commerce giant Alibaba (BABA) generated record sales during the Chinese Singles Day holiday and a number of research firms initiated coverage of the stock with upbeat notes. Alibaba stated on its official corporate news Twitter feed that its final Singles Day shopping festival gross merchandise volume exceeded $9.3B and the company's Executive Chairman Jack Ma made headlines by stating that the company's Alipay finance services arm will "definitely" go public. Additionally, Oppenheimer initiated coverage of Alibaba with an Outperform rating in a note to investors last night and HSBC earlier today initiated coverage of Alibaba with an Overweight rating and a Street-high price target of $148 per share. Despite all of this, the stock appeared to have a "sell-the-news" reaction to the Singles Day event, as its shares fell about 3% in midday trading. MAJOR MOVERS: Among the notable gainers was Rackspace (RAX), which rallied 13.5% after the cloud computing service provider reported better than expected third quarter results and announced a $500M share repurchase plan. Also higher was ICU Medical (ICUI), which rose 14% and was upgraded at Roth Capital and Piper Jaffray following its second consecutive better than expected quarterly report. Among the noteworthy losers was Vivint Solar (VSLR), which tumbled over 21% after the company reported steeper than expected losses in its first quarterly report since coming public last month. Also lower following its first earnings report since coming public was e-commerce home goods retailer Wayfair (W), which dropped 13% despite posting revenues that beat the consensus forecast and Pacific Crest and Wells Fargo making positive comments on its results. INDEXES: Near midday, the Dow was down 9.89, or 0.06%, to 17,603.85, the Nasdaq was up 1.67, or 0.04%, to 4,653.29, and the S&P 500 was little changed at 2,038.15.
12:09 EDTRAXRackspace soars after Q3 results top estimates, $500M share buyback plan
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09:37 EDTRAXActive equity options trading
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08:42 EDTRAXRackspace buyback likely to push shares higher, says Needham
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08:13 EDTRAXRackspace reported strong Q3 results, says Oppenheimer
Oppenheimer believes that Rackspace's Q3 results showed very strong trends, and it thinks the company's revenue/EBITDA growth can reach high teen percentage levels in 2015-2016. The firm keeps a $62 price target and Outperform rating on the shares.
07:51 EDTRAXRackspace price target raised to $50-$52 from $42-$46 at Wells Fargo
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