CyrusOne (CONE) - NASDAQ
  • Tue, Mar. 15, 5:40 PM
    | Tue, Mar. 15, 5:40 PM | 1 Comment
  • Tue, Feb. 9, 1:38 PM
    • CyrusOne (CONE +0.3%) and Alaska Communications (ALSK -3.2%) have set a partnership where the latter will serve as a channel partner and use CyrusOne's Houston data center to give business/government customers secure storage alongside connectivity to Alaska.
    • "Our customers trust us to securely enable their migration to the cloud," says Alaska Communications chief Anand Vadapalli, "and this partnership now connects Alaska businesses to any of CyrusOne's Lower 48 data centers."
    • The deal will provide interconnectivity via CyrusOne's Internet Exchange to dispersed strategic data center sites in the continental U.S.
    | Tue, Feb. 9, 1:38 PM | 2 Comments
  • Wed, Jan. 13, 3:50 PM
    • JPMorgan sees a long-term path for growth in data center REITs, with an early-stage transition progressing in infrastructure outsourcing, and it's leaning toward faster-growing firms.
    • That means CyrusOne (CONE -4.2%) gets its top kudos, though it saves some praise for Digital Realty Trust (DLR -0.5%) and QTS Realty Trust (QTS -1.7%).
    • "Digital Realty on January 4 issued solid 2016 guidance and we look for even better growth guidance from CyrusOne and QTS Realty Trust when they report in February," the firm said.
    • Digital Realty may grow more slowly due to its size, and substantial wholesale revenue. "We like Digital Realty for its scale, stability and dividend, but the company's lower growth outlook, in our view, justifies a lower multiple for the company," JPMorgan says. "We look for low- to mid-double-digit growth rates in revenue, EBITDA, FFO and AFFO for CyrusOne and QTS in 2016 on a standalone basis."
    • The firm maintains Overweight ratings on CyrusOne and QTS.
    | Wed, Jan. 13, 3:50 PM | 2 Comments
  • Dec. 14, 2015, 5:15 PM
    • Cincinnati Bell (CBB -3.7%) has closed a secondary offering of its stock in CyrusOne (CONE -1%), for net proceeds of about $47.6M.
    • The company offered 1.35M shares. After the offering, Cincinnati Bell maintains about a 9.5% stake in the data center operator through common and exchangeable shares.
    • CyrusOne has been gradually buying its way out of its relationship with Cincinnati Bell through a number of transactions.
    | Dec. 14, 2015, 5:15 PM | 4 Comments
  • Dec. 8, 2015, 4:26 PM
    • Cincinnati Bell (CBB +4.2%) plans a sale of 1.35M shares of CyrusOne (NASDAQ:CONE) in a public offering to close Dec. 14.
    • With CONE at $36, that comes to just under $50M before expenses. Cincinnati Bell says it plans to use proceeds for general purposes.
    • The move should leave Cincinnati Bell with about a 9.5% stake in CyrusOne via common shares and its stake in exchangeable units of CyrusOne's limited partnership.
    • Cincinnati Bell has been steadily divesting the partnership, with CyrusOne buying out parts of it earlier this year.
    | Dec. 8, 2015, 4:26 PM
  • Mar. 30, 2015, 4:09 PM
    • CyrusOne (NASDAQ:CONE) announces a 12.2M share secondary with 1.83M greenshoe, with proceeds to be used to purchase the limited partnership interests in the company's operating partnership from two subsidiaries of Cincinnati Bell.
    • Upon completion, Cincinnati Bell expects to own about 24.8% of CyrusOne (or 22% if the underwriter option is exercised in full).
    • Shares -2.8% after hours.
    | Mar. 30, 2015, 4:09 PM
  • Mar. 16, 2015, 3:19 PM
    • Though the Nasdaq is up 1.1%, major tech decliners are roughly on par with major gainers today.
    • Notable gainers include telecom equipment vendor Ciena (CIEN +3.9%), data center owner CyrusOne (CONE +4.6%), optical component maker NeoPhotonics (NPTN +6.1%), software outsourcing firm Luxoft (LXFT +7.7%), supply chain software vendor Manhattan Associates (MANH +4.2%), and Chinese game developer NetEase (NTES +3.7%).
    • Notable decliners include leading Chinese online video platform Youku (YOKU -4%), 4G router/M2M module maker Novatel (MIFI -5.5%), security hardware/software vendor KEYW Holding (KEYW -5.3%), Chinese online retailer LightInTheBox (LITB -8.7%), Chinese online real estate plays E-House (EJ -4.7%) and Leju (LEJU -5.3%), seismic tech provider Geospace (GEOS -7.5%), and U.S. solar installer Vivint (VSLR -4.3%).
    • CyrusOne, Luxoft, and Manhattan Associates are making new 52-week highs. Geospace's decline comes as crude oil falls to fresh 6-year lows. The Chinese decliners are failing to get a boost from pro-stimulus remarks from premier Li Keqiang (they've lifted many other Chinese names).
    • Previously covered: Xilinx, Neonode, MoSys, Superconductor Technologies, Himax, Alibaba, Avago, Qorvo, King Digital, iDreamSky, MicroVision
    | Mar. 16, 2015, 3:19 PM | 1 Comment
  • Jan. 26, 2015, 3:54 PM
    • Citing its exposure to Texas and energy clients (viewed as a risk thanks to crude oil's plunge), Stephens has downgraded CyrusOne (CONE -1.5%) to Equal Weight, albeit while keeping its $30 target.
    • The data center owner's Q4 report is due on Feb. 18. Shares remain with $1 of an all-time high of $29.40 (set on Jan. 14).
    | Jan. 26, 2015, 3:54 PM
  • Nov. 17, 2014, 12:20 PM
    • Citing the data center owner's valuation and organic growth potential, Stifel has upgraded CyrusOne (CONE +2%) to Buy, and set a $31 target.
    • Shares are less than a dollar away from their 52-week high of $28.12. A Q3 beat was posted two weeks ago.
    | Nov. 17, 2014, 12:20 PM
  • Oct. 30, 2014, 11:17 AM
    • In addition to posting mixed Q3 results, Equinix (NASDAQ:EQIX) is guiding for Q4 revenue of $627M-$631M, below a $642M consensus.
    • However, the data center owner reported a 3.4K Q/Q increase in net billable cabinets for Q3, a record figure and (as noted on the CC) 70% above Equinix's 4-quarter average. Total billable cabinets stand at 96.1K - 44.9K in North America, 32.2K in Europe, 19K in Asia-Pac.
    • Likewise, cross-connects rose by 5.7K to 141.2K, and exchange ports by 143 to 2,557. Total customers rose by 60 to 4,700, with the termination rate falling to 1.9% from 2.7% in Q2 and 2.5% a year ago.
    • Gross margin was 68%, flat Q/Q and Y/Y. Adjusted EBITDA margin was 46% vs. 45% in Q2 and 46% a year ago. $43M was spent on buybacks. Equinix ended Q3 with $501M in cash, and $4B in debt.
    • Equinix is guiding for full-year adjusted discretionary free cash flow of $590M-$620M, and adjusted funds from operations (AFFO) of greater than $745M. REIT approval is still expected by year's end.
    • Several data center colocation, Web hosting, and interconnection services firms are also higher on a day the Nasdaq is down 0.5%. RAX +1.5%. INAP +3.5%. DLR +1.3%. CONE +1.4%.
    • Q3 results, PR, slides (.pdf), datasheet (.pdf)
    | Oct. 30, 2014, 11:17 AM
  • Jun. 17, 2014, 4:53 PM
    • CyrusOne (CONE) has filed to sell 12.5M shares through a public offering. Underwriters have a 1.875M-share overallotment option. (prospectus)
    • The data center owner plans to use the proceeds to buy back an equal number of LP interests from parent Cincinnati Bell (CBB).
    • At current levels, CBB would reap proceeds of $281M.
    | Jun. 17, 2014, 4:53 PM
  • Mar. 7, 2014, 4:06 PM
    • DuPont Fabros (DFT -5.5%) discloses Yahoo (YHOO -2.4%) plans to sub-lease premises it directly leases at two DuPont data center facilities in Ashburn, VA. DuPont says the leases "represent 11% of the Company's operating property portfolio."
    • Other data center owners have also sold off: DLR -3.7%. COR -2.3%. CONE -1.7%.
    • Yahoo directly owns four data centers - they're in New York, Washington state, Nebraska, and Singapore. The company announced last October it's investing $170M to expand its New York facility.
    • While Internet giants and cloud service providers remain among the top clients of independent data center owners, they've also been making huge investments in custom, energy-efficient data centers of their own.
    | Mar. 7, 2014, 4:06 PM | 8 Comments
  • Oct. 16, 2013, 9:56 AM
    • Intel (INTC +0.3%) has been upgraded to Buy by B. Riley following its Q3 beat and light Q4 revenue guidance.
    • Yahoo (YHOO +1.7%) has received a two-notch upgrade to Outperform from CLSA after it posted mixed Q3 results and soft Q4 guidance, but also strong Q2 numbers for Alibaba.
    • Cisco (CSCO +0.4%) has been cut to Neutral, and Juniper (JNPR +3.6%) upgraded to Buy, by MKM. Juniper reports on Oct. 22.
    • Netflix (NFLX -0.2%) has been cut to Hold by Hudson Square ahead of its Oct. 21 Q3 report.
    • Vimpelcom (VIP +3.9%) has been upgraded to Overweight by Morgan Stanley.
    • BT (BT +1.7%) has been upgraded to Conviction Buy by Goldman.
    • CyrusOne (CONE +2.7%) has been upgraded to Buy by BofA/Merrill. However, the firm is maintaining its $23 PT.
    • Ultimate Software (ULTI +1.6%) has been upgraded to Overweight by Evercore.
    • Ellie Mae (ELLI -6.5%) has been cut to Market Perform by JMP.
    • Super Micro (SMCI -2.7%) has been cut to Hold by Stifel.
    | Oct. 16, 2013, 9:56 AM | 1 Comment
  • Sep. 30, 2013, 9:26 AM
    • BlackBerry (BBRY) has been upgrade to Market Perform by Bernstein. Shares nonetheless -1.4%, following equity futures lower.
    • Accenture (ACN) has been upgraded to Hold by SocGen. Shares sold off on Friday in response to the company's soft FQ1/FY14 guidance.
    • Xilinx (XLNX) has been upgraded to Outperform by Pac Crest. Shares -0.6%.
    • Telecom Italia (TI) has been upgraded to Neutral by JPMorgan following reports CEO Franco Bernabe is set to resign, a move that could clear the way for Latin American asset sales. Shares +3.1%.
    • RealPage (RP) has been cut to Underperform by Credit Suisse. Shares -3.5%.
    • Chinese online gaming firm NetEase (NTES) and Giant Interactive (GA) have been started at Buy by BNP Paribas.
    • Marketo (MKTO) has been started at Outperform by Wells Fargo.
    • CyrusOne (CONE) has been started at Overweight by Evercore.
    | Sep. 30, 2013, 9:26 AM
  • Apr. 17, 2013, 5:45 PM
    After-hours top gainers, as of 5:15 p.m.: CONE +9%. SLCA +4%. MXIM +4%. LNC +4%. MHR +3%.
    After-hours top losers: SCSS -7%. CCK -4%. SNDK -3%. NAVB -3%. EBAY -2%.
    | Apr. 17, 2013, 5:45 PM
  • Feb. 27, 2013, 3:57 PM

    Poor 2013 guidance has led Cincinnati Bell (CBB -21.3%) to crumble to new 52-week lows following its Q4 report. Data center subsidiary CyrusOne (CONE -2.9%), which CBB still owns 71.6% of following a Jan. IPO, is posting more modest losses in response to its own report. Excluding Cyrus One, CBB expects 2013 revenue of $1.2B, below a $1.24B consensus. On its earnings call, the telco admitted its wireless ops face "intense competitive pressures from the national players," and that it's becoming harder to offset subscriber losses with cost cuts.

    | Feb. 27, 2013, 3:57 PM
Company Description
CyrusOne, Inc. owns, operates and develops enterprise-class, carrier-neutral, and multi-tenant data center properties. It provides mission-critical data center facilities that protect and ensure the continued operation of information technology infrastructure for different customers.... More
Sector: Financial
Industry: REIT - Diversified
Country: United States