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EQIX

Equinix, Inc.

6/19/2013, 2:45 PM ET

Quote & Headlines Market Currents StockTalk

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Friday, June 7, 9:11 AM Premarket gainers: ROSG +16%. JKS +15%. IMUC +10%. NLST +8%. CBK +8%. GFA +7%. SNTA +7%. ELN +5%.
Losers: FSGI -42%. TIVO -18%. IRM -15%. JRCC -14%. LAMR -9%. CPRT -8%. FRO -7%. EQIX -8%. OIS -8%. Comment! [On the Move]
Friday, June 7, 8:21 AM Commenting on the Iron Mountain (IRM) news, Equinix (EQIX) says it expects a "delay," but "continues to believe, based on both existing legal precedent and the fact that other data center companies currently operate as REITs, that its data center assets constitute real estate for REIT purposes." Evercore suggests the dip represents a buying opportunity, noting EQIX is now trading at a meaningful discount to other non-REIT data center peers. EQIX -9.8%, IRM -14.2% premarket. Comment! [Tech, On the Move]
Thursday, June 6, 5:13 PM Iron Mountain (IRM) -11.3% after disclosing the IRS is "tentatively adverse" to providing a favorable private letter ruling regarding its conversion to a REIT, and that the agency has "formed a new internal working group" to study legal standards for what constitutes "real estate" for the purposes of REIT conversion. Equinix (EQIX), which is also planning to become a REIT, is down 2.9%. Update (5:56): The losses steepen: IRM now -15% AH, EQIX -8.8%. Comment! [Tech, On the Move]
Monday, May 27, 9:30 AM What do hedge funds see that Seeking Alpha readers don't? Of Goldman's list of stocks most-loved by hedge funds, two - John Malone cable plays Virgin Media (VMED) and Charter Communications (CHTR) - are barely followed by our readers, each with less than 500 Real Time Email Alerts subscribers. Another three - Hertz (HTZ), CBS, and Equinix (EQIX) - have, at best, moderate followings (1,100-1,400 subscribers). For comparison: Hess has 3.5K, GM 11.4K, JPM 23K, Google 76K, Apple 180K. While hedge funds as a whole struggle to beat the market, their top 20 holdings have done so with ease this year. 13 Comments [Quick Ideas]
Wednesday, May 22, 11:07 AM AIG remains at the top Goldman's list of hedge fund hotels (the 50 stocks appearing most frequently among hedge fund top 10 holdings). Google (GOOG) retains its #2 position. Apple (APPL) - in the top spot for 3 years until February - remains at #3. Goldman notes the basket has outperformed the S&P a bit this year and the top 20 has done better by more than 1000 basis points. We smell an ETF offering. The rest of the top 20: C, GM, PCLN, VMED, NWSA, MSFT, HTZ, JPM, APC, PFE, QCOM, CHTR, HES, CBS, EBAY, DAL, EQIX. 4 Comments
Thursday, May 9, 12:45 PM Four downgrades are levied on Rackspace (RAX -26.3%) following yesterday's Q1 revenue miss, accompanied by worrying business metrics. Slowing growth and a slumping EBITDA margin (due to price cuts) are problems that will get worse as Microsoft and Google ramp their cloud offerings, argues CLSA, which has cut shares to Sell. The firm adds checks indicate "mid-tier to large firms" are increasingly migrating from hosting to cloud services, and expects OpenStack to be immaterial to RAX's bottom line for the next 1-2 years. Stephens, making a contrarian upgrade to Overweight, thinks "new contract wins are on the horizon," as Rackspace targets enterprises. EQIX -2.2%. COR -4.2%. INXN -3.3%. VMW -2.5%. (transcript) 1 Comment [Tech, Earnings, On the Move]
Wednesday, May 8, 5:51 PM Akamai (AKAM) +1% AH after Clifton Robbins gives the company a favorable mention at the Sohn Investment Conference. Meanwhile, Equinix (EQIX) -2.2% AH in response to Rackspace's revenue miss and soft hosting services data. A Bloomberg column earlier today discussed Akamai's growing security service ambitions. Though security made up less than 2% of Akamai's 2012 sales, the company has big hopes for a recently-launched service called Kona Site Defender that leverages Akamai's giant content delivery network to stop DDoS and other hacking attacks Comment! [Tech, On the Move]
Wednesday, April 24, 5:52 PM After-hours top gainers, as of 5:15 p.m.: AKAM +16%. FIO +12%. AVG +10%. ANGI +8%. BYI +6%.
After-hours top losers: SUPN -14%. CTXS -12%. EQIX -11%. INTU -10%. ZNGA -8%. Comment! [On the Move]
Wednesday, April 24, 4:55 PM Tech guidance roundup: 1) Equinix (EQIX - earnings) expects Q2 revenue of $530M-$534M, below a consensus of $534.7M. 2013 revenue is expected to be greater than $2.2B vs. a consensus of $2.22B. 2) F5 (FFIV - earnings) expects FQ3 revenue of $355M-$365M and EPS of $1.06-$1.09, below a consensus of $369.7M and $1.06-$1.09. A new $200M stock buyback has been authorized. 3) Citrix (CTXS - earnings) expects Q2 revenue of $705M-$715M and EPS of $0.62-$0.63 vs. a consensus of $711.5M and $0.70. 2013 guidance is for revenue of $2.95B-$2.98B and EPS of $3.08-$3.11 vs. a consensus of $2.97B and $3.14. EQIX -11.5% AH. FFIV -0.4%. CTXS -9.9%. 1 Comment [Tech, Earnings, On the Move]
Wednesday, April 24, 4:06 PM Equinix (EQIX): Q1 EPS of $0.71 misses by $0.07. Revenue of $519.5M (+17% Y/Y) misses by $2.35M. Shares -6.6% AH. (PR) Comment! [Earnings, Breaking News, Tech, On the Move]
Wednesday, April 24, 12:10 AM Notable earnings after Wednesday’s close: AFL, AIZ, AKAM, ANGI, ARII, ARRS, ASGN, AVG, BAS, BDN, CAKE, CCI, CDNS, CLF, CLGX, CMO, CMRE, COG, CROX, CTXS, DRE, DRWI, EFX, EQIX, FFIV, FIO, FLS, GGG, INFN, ISIL, ITMN, JAH, KEX, LOGI, LPS, LRCX, LSI, MLNX, NEU, NOW, OIS, ORLY, OTEX, PDH, PMTC, QCOM, RJF, RYL, SCI, SKX, SRCL, SUSQ, SYK, TAL, TER, TEX, TQNT, TSCO, TWI, VAR, WCN, WDC, WLL, XLNX, XNPT, ZNGA 1 Comment [Earnings]
Tuesday, April 23, 5:35 PM Notable earnings after Wednesday’s close: AFL, AIZ, AKAM, ANGI, ARII, ARRS, ASGN, AVG, BAS, BDN, CAKE, CCI, CDNS, CLF, CLGX, CMO, CMRE, COG, CROX, CTXS, DRE, DRWI, EFX, EQIX, FFIV, FIO, FLS, GGG, INFN, ISIL, ITMN, JAH, KEX, LOGI, LPS, LRCX, LSI, MLNX, NEU, NOW, OIS, ORLY, OTEX, PDH, PMTC, QCOM, RJF, RYL, SCI, SKX, SRCL, SUSQ, SYK, TAL, TER, TEX, TQNT, TSCO, TWI, VAR, WCN, WDC, WLL, XLNX, XNPT, ZNGA Comment! [Earnings]
Monday, April 22, 8:30 AM Equinix (EQIX) +1.8% after Stephens upgrades shares to Overweight. The upgrade comes just two days before the data center colocation/interconnection services provider delivers its Q1 report. Equinix shares have mostly tread water this year (in large part due to valuation concerns) after rocketing higher last year on enthusiasm over booming data center demand. Comment! [Tech]
Wednesday, April 17, 2:48 PM Equinix (EQIX) scores a deal with top independent video ad network BrightRoll to provide the data center infrastructure for BrightRoll's new VideoRTB+ real-time bidding platform (delivers targeted ads based on user activity). Equinix and BrightRoll will also jointly promote Equinix's Ad-IX platform for providing connections between ad exchanges and other online ad service providers. Bloomberg recently made note of the challenge presented by BrightRoll and its network of 6K+ sites/apps in the online video ad space to Google (GOOG), which still leads the market thanks to YouTube. Comment! [Tech]
Wednesday, April 10, 6:15 PM After-hours top gainers, as of 5:45 p.m.: AEZS +29%. ZUMZ +10%. PCYG +4%. BLK +4%. MDU +3%.
After-hours top losers: FTNT -15%. APOG -7%. EQIX -4%. FIRE -4%. YUM -3%. Comment! [On the Move]
Wednesday, March 27, 1:51 PM Equinix (EQIX -0.1%) partners with NetApp (NTAP +0.9%) to support a hybrid cloud storage solution that uses a combo of privately-managed NetApp hardware and Amazon Web Services (AWS). The partnership, which comes a few months after NetApp and Amazon struck a partnership, drives home NetApp's interest in making the most out of AWS even as its use (in standard public cloud deployments) threatens sales of NetApp hardware. Separately, Equinix announces it's building a third IBX data center in Singapore. Comment! [Tech]