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Active Stocks Alert: Rackspace Hosting (RAX) and New Oriental Education & Technology Group Inc. (NYSE:EDU)

on 18/03/2013

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Today’s Stocks in focus are: New Oriental Education & Technology Group Inc. (NYSE:EDU), Rackspace Hosting (NYSE:RAX)

New Oriental Education & Technology Group Inc. (NYSE:EDU) jumped up to the highest levels since July in New York as a purchase offer for Chinese tutoring company, Ambow Education Holding Ltd.,

Ambow surged an historic 53 percent March 15 following Baring Private Equity Asia Ltd. planned purchasing the Beijing-located provider’s stock at a premium.

How New Oriental Education & Technology Group stock reacted after the news? Find in this report

New Oriental, China’s largest private education provider, rallied 8.4 percent following equity research firm, 86Research Ltd., reported that the company is “very likely” a purchase candidate. The Bloomberg China-US Equity Index (CH55BN) slipped 3.4 percent the previous week, the most since Feb. 8.

How shares of Rackspace Hosting (RAX) took investors attention on Monday? Click here to find out

Stock of cloud computing company, Rackspace Hosting (NYSE:RAX), was rising following technology blog GigaOM reported late on Friday that IBM (IBM) had started probing a takeover of the firm.

As per reported by the report by author Barb Darrow, a previous IBM executive, articulating on the condition of anonymity, reported that IBM was focusing at Rackspace as of a month or so back, in addition to being very interested in purchasing the privately-possessed cloud firm SoftLayer.

Darrow further reported that EMC (EMC), which had also been apparently interested in SoftLayer, was not looking to purchase it, referring to sources closely related with the matter. In the mid-morning session, shares of Rackspace rallied $3.15, or 6.14%, to $54.43, while IBM declined 0.4%, to $214.04.

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Source: anotherwinningtrade Posted Mon, March 18, 2013 16:32 - Permalink