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RACK Shows Strength

Fri, 16 Jan 2009 17:16:00 GMT

Rackable Systems Inc. (RACK) continues to lead in green technologies for lower power consumption and high-density servers. We remain encouraged by the company's robust product pipeline and significant customer wins. Rackable trimmed its outlook for fiscal 2008 twice during the year due to the challenging economy. In order to protect margins, the company has reduced its workforce. We have reduced our estimates for Q4 of fiscal 2008 and for all of fiscal 2009. Over the long-term it may be a challenge for RACK to compete with larger hardware vendors. We maintain a Hold rating on RACK shares as we believe the company has limited downside. Shares of Rackable Systems are currently trading at a P/S multiple of 0.5x our 2009 revenue per share estimate of $8.64, a discount to the industry. We cut our price target to $4.50, which is based on a P/S multiple of[More...]

Analyst Comments: Stone Energy, Acadia Pharmaceuticals, Primus Guaranty, Interstate Hotels, Rackable

Thu, 07 Aug 2008 16:06:00 GMT

We are upgrading Stone Energy Corp.'s (SGY) shares to Buy from Hold following the company's better-than-expected second quarter 2008 results. The stock's recent pullback (down more than 20% in the last month alone), primarily due to commodity-price weakness, has made its valuation very attractive. We like the acquisition of Bois d'Arc Energy (BDE). The strategic rationale of the transaction is compelling, given the complementary asset bases, strategies, and skill sets of the two companies. The new Stone Energy will be more diversified with a significant Gulf of Mexico exploration exposure. Our price objective remains unchanged, though we have raised our estimates. In the quarter, Stone Energy reported recurring earnings of $2.91 per diluted share, compared to $1.29 per diluted share in the year-earlier quarter. The year-over-year gain was driven[More...]

Chock Full Of Earnings

Mon, 21 Apr 2008 14:41:22 GMT

Good morning. Premarket futures are mixed as oil prices hit fresh new highs and investors show a little reserve following negative news from financials like Bank Of America (BAC), National City (NCC), and Ubs (UBS). However, just like last week, not all n[More...]

Rackable Not Yet Profitable

Tue, 01 Apr 2008 06:24:32 GMT

After Rackable Systems, Inc. (RACK) had the market for high-density, low-power servers to itself, larger competitors have entered the market, driving intense pricing competition. Although we expect price competition to continue, we believe new management[More...]

Weekly Market Update - Bears in Control

Sat, 05 Jan 2008 18:30:28 GMT

A tough week for stocks closed with a thud Friday. The new year got off to a bad start with a weak ISM Manufacturing report. That was followed up by a weak non-farm payrolls report that caught the market's attention and prevented investors from appreciating the reasonably decent ISM Services report. Note that rising prices were a theme in both ISM reports. This has investors worried that inflation will prevent the Fed from freely doling out rate cuts to save the economy. It was all too much for market participants and they sold stocks with abandon.As for the TradeRadar model portfolio, we were stopped out of our position in SanDisk (SNDK). But the carnage in the NASDAQ encouraged us to move from neutral on tech to a bearish stance. Accordingly, I initiated a small position in the ProShares UltraShort Technology ETF (REW). Here's the background on this decision.I have written a couple of posts on how the

GAAP INCOME (LOSS) FROM CONTINUING OPERATIONS $ (13,661 ) $ (19,356 ) $ 651 Add back (deduct): Stock-based compensation 1,684 (258 ) 3,292 Excess and obsolete inventory charges associated with next-generation technology shifts and new product introductions and related (recoveries) of these written-down inventories - 11,710 - Non-GAAP INCOME (LOSS) FROM OPERATIONS FROM CONTINUING OPERATIONS $ (11,977 ) $ (7,904 ) $ 3,943

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Rackable Systems Receives Court Approval to Purchase Silicon Graphics Assets

Thu, 30 Apr 2009 23:50:00 GMT

Rackable Systems, Inc. (NASDAQ:RACK), a leading provider of ecological servers and storage products for medium to large-scale data centers, today announced that it received court approval to acquire substantially all of the assets of Silicon Graphics, Inc. (SGI) for $42.5 million in cash, plus the assumption of certain liabilities associated with the acquired assets.[More...]

Rackable Systems Expands Its OmniStor® External Storage Series with New Models and Superior Performance

Thu, 30 Apr 2009 15:56:00 GMT

Rackable Systems, Inc. (NASDAQ: RACK), a leading provider of ecological servers and storage products for medium- to large-scale data centers, today announced the immediate availability of its expanded OmniStor® line of external storage products designed to add performance and storage capacity to any Rackable server. With expanded choices of hard drive support, system form factors and power supplies, Rackable’s new OmniStor storage solutions are now also available built-to-order, a benefit previously only available with Rackable’s server lines. The new storage systems provide customers with the highest performance in the industry, which is crucial for a wide variety of workloads such as database management, video streaming, media and content delivery, and bulk archival projects.[More...]

Rackable Systems Announces First Quarter 2009 Earnings Call Information

Mon, 13 Apr 2009 20:02:00 GMT

Rackable Systems, Inc. (NASDAQ:RACK), a leading provider of servers and storage products for medium to large-scale data centers, today announced it will report financial results for the Company’s first quarter of fiscal 2009 on Tuesday, May 5, 2009, at 2:00 p.m. PDT (5:00 p.m. EDT).[More...]

Rackable Systems to Outline the Next Generation Green Data Center at Uptime Institute Symposium

Fri, 10 Apr 2009 16:06:00 GMT

Rackable Systems, Inc. (NASDAQ:RACK), a leading provider of Eco-Logical™ servers and storage products for medium- to large-scale data centers, will present at the Uptime Institute 4th Annual Research Symposium & Exposition on April 15 at 5:00 p.m. EST. Rackable will also be a sponsor and exhibitor. The show will be held at the Hilton New York, April 13-16; Rackable will be exhibiting in Booth #218.[More...]

Rackable Systems Announces Agreement to Acquire Silicon Graphics Inc.

Wed, 01 Apr 2009 11:47:00 GMT

Rackable Systems, Inc. (NASDAQ:RACK), a leading provider of servers and storage products for medium to large-scale data centers, today announced its agreement to acquire substantially all the assets of Silicon Graphics, Inc. (SGI) (NASDAQ:SGIC) for approximately $25 million in cash, subject to adjustment in certain circumstances, plus the assumption of certain liabilities associated with the acquired assets.
Actual results may differ materially from forward-looking statements due to a number of risks and uncertainties including: the risk that the bankruptcy court may not approve the proposed acquisition; negotiations with SGI or conditions to closing of the acquisition may fail; competing parties may outbid Rackable in the bankruptcy proceedings; liabilities assumed by Rackable in the acquisition may be greater than anticipated; key personnel may not remain with Rackable following the closing; the anticipated synergies of the combined companies and the potential cost reductions may not be achieved; and the combined operations may not be successfully integrated in a timely manner, if at all.
Detailed information about other potential factors that could affect Rackable Systems' business, financial condition and results of operations is included in Rackable Systems' annual report on Form 10-K under the caption "Risk Factors," in Part I, Item 1A of that report, filed with the Securities and Exchange Commission ("SEC") on March 19, 2009, as updated by Rackable Systems' subsequent filings with the SEC, all of which are available at the SEC's Web site at http://www.sec.gov.

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Rackable Systems Announces Full Support of Intel® Xeon® Processor 5500 Series

Mon, 30 Mar 2009 19:00:00 GMT

Rackable Systems, Inc. (NASDAQ: RACK), a leading provider of Eco-Logical™ servers and storage products for medium- to large-scale data centers, today announced full support of Intel® Xeon® processor 5500 series (codenamed “Nehalem”) in more than 30 server configurations.[More...]

Rackable Systems Announces CloudRack™ C2 Next Generation Cabinet with Extreme Densities and Breakthrough Energy Efficiency for Cluster Computing

Wed, 18 Mar 2009 12:03:00 GMT

Rackable Systems, Inc. (NASDAQ:RACK), a leading provider of Eco-Logical™ servers and storage products for medium- to large-scale data centers, today announced the immediate availability of CloudRack™ C2, a unified cabinet which delivers dramatic bottom-line savings to data centers by assuring maximum power and cooling efficiency. CloudRack C2 provides staggering server densities with up to 1,280 cores per cabinet and 99 percent energy efficiencies.[More...]