Rackspace Hosting (RAX) faces higher 2016 costs as it invests in staff to provide technical support for Amazon.com, Microsoft and other public clouds, says UBS, which lowered its price target on the stock. UBS analyst Steven Milunovich, who has a neutral rating on the stock, lowered his price target to 28 from 30. “We think that fiscal 2016 could turn into a back-end loaded year with some margin erosion,” wrote Milunovich in a report. “We continue
A survey of China consumers convinced RBC Capital Markets to reiterate an outperform rating on Alibaba Group (BABA), which showed a much stronger position in the online sales marketplace than JD.com (JD) or Amazon.com (AMZN). The survey of more than 1,500 consumers also showed a robust spending behavior, with 90% of Chinese online shoppers hitting the buy button at least two to three times a month. The survey revealed that Alibaba e-commerce
Solar panel maker Trina Solar (TSL) rocketed Monday on Wall Street after announcing CEO Jifan Gao and an investment group submitted a bid to buy out shareholders, making Trina the 15th Chinese tech firm since April to consider privatizing. In midday trading on the stock market today, Trina Solar stock flew almost 13%, trading near a month-high above 10.70. Before Monday’s market move, Trina Solar stock was up 3% for the year through Friday,