Rackspace, the cloud computing player that has been for sale since May, says it intends to remain independent, Re/code reports.» Read More
Oct 17- Shares of fiber network company Zayo Group Holdings Inc jumped as much as 20 percent in their market debut on Friday as investors bet on the growing demand from businesses for ultra-fast Internet. The stock touched a high of $22.85 on the New York Stock Exchange, valuing the company at about $5.35 billion. The offering raised about $400 million after it was...
CenturyLink Inc shares were up 8 percent, AT&T Inc was up 3 percent and Verizon Communication Inc rose 2 percent. "Given the IRS approval, we expect other companies may explore the possibility of spinning off their Wireline assets into a similar structure," Jefferies& Co analysts said.
Some of Tuesday's midday movers:
*Merck rises as results beat expectations, but Pfizer slips. Windstream Holdings jumped 12.8 percent to $11.88 in its busiest trading day on record after the company filed to spin off assets into a tax-efficient publicly-traded real estate investment trust.
*Pfizer, Merck rise as results beat expectations. NEW YORK, July 29- U.S. stocks rose Tuesday on news about a spinoff in the telecommunications sphere that sent most stocks in the sector soaring and on better-than-expected results from Pfizer and Merck.
July 2- Fiber network company Zayo Group Holdings Inc filed with U.S. regulators on Wednesday to raise up to $100 million in an initial public offering. The Boulder, Colorado- based company listed Morgan Stanley, Barclays and Goldman Sachs as lead underwriters for the IPO.
Wells Fargo Securities analyst Gray Powell said Rackspace could seriously be considering a move to go private, a move supported by the strength of its balance sheet. Rackspace has received at least three acquisition bids, including those from Hewlett-Packard Co and IBM, the tech blog reported, citing a source within the company.
July 2- Cloud service provider Rackspace Hosting Inc is considering taking itself private and is in talks with a private equity firm to fund the deal, technology blog TechCrunch reported on Wednesday, citing a source.
The recovery is leading to a number of acquisitions as the largest telecom companies duke it out with cable operators and telecom providers such as Level 3 Communications Inc to serve corporate customers.
U.S. cable and fiber Internet providers usually deliver the advertised download speeds, while DSL connections increasingly fall short, the FCC said.
The results of cable and fiber ISPs improved on average from 2013, when the FCC found they largely delivered on the promised speeds, with Quest/ CenturyLink showing a 16 percent improvement. FCC senior officials said they could not determine whether that was because DSL was lagging in capacity or investments in upgrades or because DSL providers overpromised.
Level 3 Communications said it would buy internet services provider TW Telecom for $40.86 per share in a cash and stock deal.
*Deal for $40.86 per share in cash and stock. June 16- Telecommunications services company Level 3 Communications Inc said it would buy internet services provider tw telecom Inc for $40.86 per share in cash and stock to expand its commercial fiber network in the United States.
It’s time for the Lightning Round. Cramer makes the call on viewer favorites.
The relatively sharp jump in interest rates since the beginning of May has taken a toll on the stock market, and analysts see more pain ahead.
Hackers on Tuesday launched cyberattacks that affected websites in a planned campaign called "Operation USA."
Comcast reported earnings that topped Wall Street analysts' estimates by a penny a share on Wednesday, driven by gains in its cable and theme park businesses.
Take a look at some of Thursday's midday movers:
That's classified! Not anymore. US agencies like the FBI will begin sharing some classified information with companies to help prevent hack attacks.
If there’s one thing that can shred profits with little or no hope that they will ever recover, it’s this.