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Stock Market & Financial Investment News

News Breaks
February 11, 2014
08:59 EDTS, CVS, GWR, BNNY, DF, BLOX, REGN, GOOG, SCOR, RAX, GRPN, MNK, CADX, XOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Sprint (S), up 7%... Regeneron (REGN), up 3%... CVS Caremark (CVS), up 2%. ALSO HIGHER: Cadence (CADX), up 26.5% after Mallinckrodt (MNK) agrees to acquire the company for about $1.3B, or $14 per share in cash. Mallinckrodt shares also up 9% after the deal... comScore (SCOR), up 15% after earning, partnership deal with Google (GOOG) for real-time audience metric. DOWN AFTER EARNINGS: Infoblox (BLOX), down 42%... Dean Foods (DF), down 11%... Annie's (BNNY), down 9%... Genesee & Wyoming (GWR), down 4%. ALSO LOWER: Rackspace (RAX), down 12% after earnings report, retirement of CEO... Groupon (GRPN), down 5% after SVP product management Jeffrey Holden leaving company... U.S. Steel (X), down 1.8% following downgrade at Citigroup.
News For S;CADX;MNK;GRPN;RAX;SCOR;GOOG;REGN;BLOX;DF;BNNY;GWR;CVS;X From The Last 14 Days
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September 8, 2014
16:18 EDTRAXOn The Fly: Closing Wrap
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12:57 EDTSSprint management to meet with Jefferies
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11:37 EDTGOOGGoogle rises after Jefferies highlights YouTube growth potential
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11:24 EDTRAXRackspace trades higher following report CenturyLink in talks to buy company
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10:58 EDTRAXCenturyLink would need to issue stock, raise debt to buy Rackspace, Re/code says
Following a Bloomberg report that said CenturyLink (CTL) is interested in buying Raxspace (RAX), Re/code's Arik Hesseldahl noted that CenturyLink has "practically no cash" and would have to issue stock and likely take on "significant debt" to make such an acquisition, though the author also noted that CenturyLink has a history of structuring such deals. However, Hesseldahl believes Rackspace remaining independent is still the "more likely scenario" than the company being bought. Reference Link
10:24 EDTRAXRackspace moves to resistance test on takeover speculation report
Bloomberg yesterday said in a report that sources indicated CenturyLink (CTL) was looking to acquire Rackspace Hosting (RAX). At the current price of $39.21, the stock is just under the $40 level which has been overhead resistance in the trading range in place since late last year. Support is at $38.28. A breakout above $40 would be bullish for future price.
09:43 EDTGOOGEU authorities seek more concessions from Google in ongoing probe, WSJ says
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09:12 EDTRAXOn The Fly: Pre-market Movers
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08:58 EDTRAXRackspace risk/reward remains compelling, says Wells Fargo
Wells Fargo says that even with some takeout speculation being priced into Rackspace (RAX)shares today following reports that CenturyLink (CTL) is in talks to buy the company, the risk/reward on the stock remains compelling. Wells believes Rackspace either gets acquired at a premium or stays independent and announces a share buyback of $900M. The firm keeps an Outperform rating on the name.
08:36 EDTRAXRackspace Hosting volatility expected to move on acquisition report
Rackspace Hosting (RAX) volatility is expected to move on CenturyLink (CTL) looking to acquire says Bloomberg, citing sources. Overall option implied of 37 is below its 26-week average of 46 according to Track Data, suggesting decreasing price movement.
08:01 EDTCVSCVS Health completes purchase of Navarro Discount Pharmacy
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07:26 EDTCVSMorgan Stanley to hold a conference
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07:15 EDTREGNIBC Life Sciences to hold a conference
10th Annual Cell Line Development & Engineering Conference to be held in Berkeley, California on September 8-10.
06:30 EDTGOOGGoogle organizes meetings to talk about privacy rights in EU, Reuters says
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06:21 EDTGOOGSmartwatch market to reach $10B by 2018, says Citigroup
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06:07 EDTGOOGGoogle implied volatility of 16 at lower end of index mean range
06:05 EDTGOOGGoogle Glass goes on sale in U.S. Google Play store
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05:35 EDTGOOGGoogle added to Franchise Picks List at Jefferies
Jefferies added Google to its Franchise Picks List saying the company's YouTube division looks best positioned to benefit from growth in online video advertising, which the firm estimates could be a $17B opportunity by 2017 in the U.S. alone. Jefferies has a Buy rating on Google with a $700 price target.
September 7, 2014
20:37 EDTS, GOOGApple's new iPhones face risk as carriers begin subsidy phase out, WSJ says
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16:22 EDTRAXCenturyLink said to seek Rackspace acquisition, Bloomberg says
Louisiana-based landline phone service provider CenturyLink (CTL), is looking to acquire cloud computing company Rackspace Hosting (RAX), says Bloomberg, citing sources. Sources say a deal may not be reached for Rackspace Hosting, which currently has a stock market valuation of $5.33B, added Bloomberg. Reference Link
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