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.
U.S. cable and fiber Internet providers usually deliver the advertised download speeds, while DSL connections increasingly fall short, the FCC said.
Level 3 Communications said it would buy internet services provider TW Telecom for $40.86 per share in a cash and stock deal.
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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:
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