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Stock Market & Financial Investment News

News Breaks
March 31, 2014
09:51 EDTRKUS, CSCORuckus Wireless and Cisco benefiting most from WiFi deployments, says OTR Global
OTR Global said Ruckus (RKUS) and Cisco (CSCO) are benefiting the most from carrier WiFi deployments in emerging markets and China. Carriers are pleased with Ruckus' scalability, ease of use and strong Cisco technology.
News For RKUS;CSCO From The Last 14 Days
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September 22, 2014
12:26 EDTCSCOEMC, HP merger talks could resume, Barron's reports
The merger talks between EMC (EMC) and HP (HPQ) could resume, Tiernan Ray of Barron's reports, citing a source. The companies had discussed HP selling its printer division, but only as "a down the road thing," once a deal was completed, Tiernan added, citing the source. Cisco (CSCO) and Oracle (ORCL) are still considered possible buyers for EMC, the reporter noted. Reference Link
11:18 EDTCSCOCisco management to meet with Oppenheimer
Meeting to be held in Boston on September 25 hosted by Oppenheimer.
06:11 EDTCSCOEMC explores merger, holds talks with HP, Dell, WSJ reports
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September 17, 2014
08:05 EDTCSCOCisco announces intent to acquire Metacloud
Cisco announced its intent to acquire privately held Metacloud. Upon completion of the acquisition, Metacloud employees will join Cisco's Cloud Infrastructure and Managed Services organization led by Faiyaz Shahpurwala, senior vice president. The acquisition of Metacloud is expected to be complete in 1Q15, subject to customary closing conditions.
September 16, 2014
11:16 EDTCSCOVirnetX plunges after appeals court vacates jury award in suit with Apple
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08:18 EDTCSCOFCC to hold a roundtable
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08:14 EDTRKUSRuckus Wireless shares should be bought on weakness, says Oppenheimer
After meeting with Ruckus' management, Oppenheimer believes that the company's favorable Q2 market conditions have carried into the current quarter. The firm thinks the company has a number of potential positive longer term catalysts and keeps an Outperform rating on the shares.
07:19 EDTCSCOCompanies' 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
September 15, 2014
06:23 EDTCSCOCisco says Salesforce.com CEO Benioff to step down from board
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September 12, 2014
12:51 EDTRKUSOn The Fly: Midday Wrap
Stocks on Wall Street opened in negative territory and have remained there throughout the morning. The day’s economic data, including retail sales figures, a report on import prices, and business inventories data, were generally in line with expectations. The economic bright spot was the University of Michigan consumer confidence report which came in higher than expected. The market is on the verge of ending the week lower, which would be its first weekly loss in the last seven. ECONOMIC EVENTS: In the U.S., sales at retailers climbed 0.6% in August, matching expectations but also representing the fastest pace in four months. Retail sales growth for July was also revised upward to 0.3% from a prior estimate of having been flat. Import prices dropped 0.9% in August, while export prices slipped 0.5%. The University of Michigan preliminary consumer sentiment reading for for September rose to 84.6, beating expectations for it to be up more modestly to 83.3. Business inventories grew 0.4% in July, as expected. COMPANY NEWS: Shares of eBay (EBAY) were up more than 2% near noon after rumors circulated that Google (GOOG) may look to take a stake in the company. However, an eBay spokesperson denied the speculation, telling Reuters that the company has held "no conversations" with Google about acquiring a stake. MAJOR MOVERS: Among the notable gainers was digital marketing services company Conversant (CNVR), which soared 30% after Alliance Data Systems (ADS) agreed to acquire it for about $2.3B in cash and stock. Following last night's announcement of the deal, some Conversant peers rose as well, as Criteo (CRTO) gained almost 5% and TubeMogul (TUBE) rose 1%, while Alliance Data gained over 2%. Among the noteworthy losers was Amarin (AMRN), which dropped 22% after an office within the FDA denied the company's appeal of FDA's rescission of the ANCHOR clinical trial Special Protocol Assessment agreement. Also lower were shares of Ruckus Wireless (RKUS), which fell 5% after one analyst downgraded the shares and another initiated coverage of the stock with an Underweight rating. INDEXES: Near midday, the Dow was down 66.43, or 0.39%, to 16,982.57, the Nasdaq was down 19.83, or 0.43%, to 4,571.97, and the S&P 500 was down 10.28, or 0.51%, to 1,987.17.
11:21 EDTRKUSRuckus Wireless sinks after analysts issue downbeat notes
Shares of Ruckus Wireless (RKUS), which provides products that enable Wi-Fi connections, are falling after one analyst downgraded the shares and another initiated coverage of the stock with an Underweight rating. WHAT'S NEW: Buckingham analyst Rohit Chopra downgraded Ruckus to Neutral from Buy this morning. Noting that the stock has surged 38% since June, Chopra believes that there are no significant unknown catalysts that are likely to increase Ruckus' multiple or cause its results to exceed expectations within the next year. Investors should take profits in the stock at current levels, wrote Chopra, who raised his price target on the shares to $16 from $15. Morgan Stanley analyst James Faucette initiated coverage of the stock with an Underweight rating last night. Ruckus has gained a significant share of the WiFi market due to its radio frequency technology which provides connectivity in difficult environments, Faucette stated. Ruckus' technology continues to be differentiated from its competitors' solutions, but its customers tend to have little need for advanced security or network management capabilities, the analyst believes. Consequently, they are unlikely to increase their investments in WiFi as much as the average WiFi provider, Faucette contended. Analysts' consensus estimates for the company's revenue growth in 2014-2016 are slightly too high, according to Faucette, who set a $13 price target on the shares. PRICE ACTION: In late morning trading, Ruckus dropped 5.4% to $14.31.
10:00 EDTRKUSOn The Fly: Analyst Initiation Summary
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10:00 EDTRKUSOn The Fly: Analyst Downgrade Summary
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09:14 EDTRKUSOn The Fly: Pre-market Movers
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08:55 EDTRKUSRuckus Wireless downgraded to Neutral from Buy at Buckingham
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07:12 EDTRKUSRuckus Wireless downgraded to Neutral from Buy at Buckingham
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06:05 EDTCSCOCisco implied volatility of 14 at lower end of index mean range
September 11, 2014
18:06 EDTRKUSRuckus Wireless initiated with an Underweight at Morgan Stanley
Target $13.
11:17 EDTCSCOEMC seen as potential target after said to mull VMware stake sale
EMC (EMC) is considering selling its 80% stake in cloud computing infrastructure provider VMware (VMW), The New York Post reported today, citing unnamed sources. Calling The New York Post "surprisingly accurate" on M&A news, UBS said the likelihood of change at EMC has increased and it has become a potential takeover target. WHAT'S NEW: EMC is exploring the possibility of selling its stake in VMware, which could be acquired by HP (HPQ), according to one source, The Post reported. EMC could also look to sell other assets, the newspaper quoted a second unnamed source as saying. ANALYST REACTION: UBS analyst Steven Milunovich wrote that he is more convinced in the wake of the Post story that "something is up" at EMC. Although EMC has denied in the past that it would consider selling or spinning off VMware, the company could change its tune, the analyst stated. HP could buy VMware or all of EMC, while Oracle (ORCL) and Cisco (CSCO) are also potential buyers of EMC, Milunovich believes.The analyst kept a $33 price target and Buy rating on shares of EMC. WHAT'S NOTABLE: Activist investor Elliott Management, a hedge fund, has taken a $1B stake in EMC and wants the company to spin off VMware, The Wall Street Journal reported in July. Early last month, research firm FBR Capital wrote that an EMC spin-off of VMware could enhance shareholder value for both companies and make VMware a top acquisition candidate by a larger technology company. The firm kept an Outperform rating on EMC at that time. PRICE ACTION: In late morning trading, EMC was little changed at $29.50, down from its earlier high of $29.89. VMware fell 0.7% to $96.75, down from its earlier daily high of $97.86.
September 9, 2014
07:17 EDTCSCOThe Wireless Association to hold a conference
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