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Stock Market & Financial Investment News

News Breaks
January 30, 2014
05:45 EDTT, VZ, CTL, VG, MSFTFCC to vote on using digital technology over telecom landlines, WSJ reports
The FCC is expected to today vote to allow regional trials where phone companies would switch networks in a particular area to newer digital technology and then monitor the impact on consumers and small businesses. The move points to replacing existing landline telephone system with a digital-based network, reports the Wall Street Journal.Reference Link
News For T;VZ;CTL;VG;MSFT From The Last 14 Days
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July 14, 2014
08:32 EDTTSynchronoss acquires Voxmobili for $26M in cash
Synchronoss (SNCR) announced its acquisition of Voxmobili, a wholly owned subsidiary of OnMobile Global. Voxmobiliís customers include AT&T (T), Airtel, Everything Everywhere, France Telecom, Orange (ORAN), T-Mobile (TMUS), and Vodafone (VOD). In consideration for the acquisition, Synchronoss paid approximately $26M in cash to OnMobile Global.
07:48 EDTMSFTQuantum computer company D-Wave may come public, FT says
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06:08 EDTMSFTMicrosoft confirms plans to discontinue MapPoint, Streets & Tips
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06:05 EDTMSFTMicrosoft to expand coverage of free Windows licensing, DigiTimes reports
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July 11, 2014
16:46 EDTVZStocks end week lower on European, Fed concerns
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15:00 EDTCTLChance 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 EDTCTLRackspace 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
11:57 EDTMSFTMicrosoft acquires InMage, terms not disclosed
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07:21 EDTVZVerizon Q2 postpaid net adds better than expected, says JPMorgan
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July 10, 2014
18:02 EDTCTLWells 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.
16:25 EDTVZOn The Fly: Closing Wrap
Stocks on Wall Street began the session deep in negative territory, as fears about the health of one of Portugalís largest banks, coupled with weak economic data out of Italy, prompted a sell-off in Europe, which spilled over to the U.S. The major averages moved generally higher after the open, though the early losses proved too much to overcome. The reignited fears about Europe's periphery come just as the U.S. corporate earnings season is set to pick up in earnest next week. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 11K to 304K in the week ended July 5. Wholesale inventories rose 0.5% in May, while sales edged up 0.7%, which were both a little below expectations. In Europe, concerns about the periphery rose again as the parent company of Portugal's Espirito Santo bank missed a debt payment, leading the country's interest rates higher and equities in the Eurozone lower. Also, Italy's industrial output saw its steepest monthly fall since late 2012, having dropped 1.2% in May. In China, trade performance improved in June but still missed market forecasts. Exports rose 7.2% in June from a year earlier, missing the consensus forecast for a rise of 10.6%, while imports grew 5.5% in the month, versus the 5.8% growth expectation. COMPANY NEWS: Shares of Verizon (VZ) advanced 74c, or 1.51%, to $49.64 to lead the handful of gainers on the Dow Jones Industrial Average. The rise came after Verizon CEO Lowell McAdam said in an interview on CNBC that his company added over 1.4M postpaid subscribers in Q2, with "record" tablet growth and "very strong" smartphone growth. Afterward, Wells Fargo said in a note to investors that the net adds were higher than the firm's recently increased estimate and above Street consensus... Conversely, Home Depot (HD) was the Dow's worst performer, falling $1.33, or 1.65%, to $79.40. After hardwood floors retailer Lumber Liquidators (LL) and farm products retailer Tractor Supply (TSCO) pre-announced weaker than expected Q2 results, Deutsche Bank analyst Mike Baker reduced his estimates for Home Depot and peer Lowe's (LOW), explaining that the comparative sales of those two large home improvement retailers have historically had a positive correlation with those of Tractor Supply and Lumber Liquidators. MAJOR MOVERS: Among the notable gainers was AmREIT (AMRE), which rose $3.25, or 16.93%, to $22.45 after Regency Centers (REG) offered to acquire the company for $22 per share, payable in cash and/or stock. Also higher was Cray (CRAY), which rallied $4.27, or 15.69%, to $31.49 after the company announced it has been awarded a $174M supercomputer deal from the National Nuclear Security Administration. Among the noteworthy losers was sandwich maker Potbelly (PBPB), which plunged $3.68, or 25.12%, to $10.97 after the company's second quarter and fiscal 2014 outlook fell significantly short of analysts' consensus estimates. Also lower was Sarepta Therapeutics (SRPT), which sunk $3.35, or 12.94%, to $22.54 after the company announced data through week 144 from its eteplirsen study in patients with Duchenne muscular dystrophy. INDEXES: The Dow dropped 70.54, or 0.42%, to 16,915.07, the Nasdaq fell 22.83, or 0.52%, to 4,396.20, and the S&P 500 declined 8.15, or 0.41%, to 1,964.68.
15:11 EDTVZVerizon Q2 postpay net adds beat expectations, says Wells Fargo
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13:44 EDTVZVerizon CEO says added over 1.4M postpaid subscribers in Q2
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13:40 EDTVZVerizon CEO calls Q2 'strong,' says not interested in satellite company
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13:16 EDTVZVerizon CEO says not interested in buying satellite company
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10:22 EDTMSFTMicrosoft CEO prepares reshaping plans
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09:02 EDTCTLCenturyLink wins 10-year NH colocation contract
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06:29 EDTMSFTMicrosoft, Vitalwerks settle lawsuit, WSJ reports
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06:26 EDTMSFTTablet quarterly shipments fall for first time to 56M on year, DigiTimes says
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06:18 EDTMSFTIDC: PC shipments in mature regions stabilizes market in Q2, DigiTimes
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