Chinese officials are expected to be in Washington this week to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
Saudi Arabia's defense spending is the world's third-largest — behind the U.S. and China, says Gary Grappo, former U.S. ambassador to Oman.Energyread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
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Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
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"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
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Shares of Equinix fell as much as 4 percent on Tuesday after CFO Keith Taylor said smaller companies are gaining market share in the data center business.
The stock recovered some of those losses and ended the day down about 3 percent.
While he wasn't sure why this is happening, Taylor said at the Goldman Sachs Communacopia Conference that these smaller companies may be undercutting larger competitors.
Pacific Crest Securities said in a research note, however, that the downward price action is "overblown" and that investors pulling out of the stock "may be missing long-term outperformance by the company."
The firm explained that Equinix "continues to pick and choose the right applications to put in its data centers that drive the most value to its customers and company." Pacific Crest also said that it doesn't believe that there is an overcapacity issue in the cloud business.
A spokesman for Equinix said in a statement: "Equinix has been and continues to be disciplined in our expansion efforts to accommodate the projected growth that we see in strategic markets globally while optimizing the mix of customers and ecosystems with whom companies come to Equinix to interconnect. As a part of our selling process, we ensure that customers understand the value we are delivering – the ability to interconnect with key strategic partners."
Disclosure: Pacific Crest Securities expects or intends to seek compensation for investment banking services from Equinix within the next three months. During the past 12 months, Equinix has been a client of the firm or its affiliates for non-securities related services. As of the date of this report, Pacific Crest makes a market in Equinix.