Are Zillow Group Inc (Z), World Wrestling Entertainment, Inc.(WWE) and Rackspace Holdings, Inc.(RAX) Going To Keep Riding The Wave?
New York, NY – GDP INSIDER – 02/19/2015.
This article discusses three companies Zillow Group Inc (NASDAQ:Z), World Wrestling Entertaining, Inc.(NYSE:WWE) and Rackspace Holdings, Inc.(NYSE:RAX)
Zillow Group Inc(NASDAQ:Z) had a very busy trading day with 10.56 million shares trading hands, more than 8 times its 3 month average volume of 1.6 million. The stock closed up 14.98%, or $16.35 to finish at $125.49 on news that it had finally closed its merger with Trulia.com after the Federal Trade Commission officially signed off on the transaction. The online property and real estate company broke through its 3 month resistance point of $121 a share and could rise further as more benefits of the merger become apparent.
World Wrestling Entertaining, Inc.(NYSE:WWE) dropped 7.9% yesterday losing $1.37 to close at $15.98. The integrated media and entertainment company is receiving mixed reviews of late and its stock has been jumping around as much as its superstars, trading between $10 and $16 over the last 6 months. The nervousness around the company from lowering its last earnings estimate may be unfounded, as viewer ratings are still riding high and the quarterly revenue growth of 18.7% is strong. Given the volatility of the stock however, it is definitely better to buy on the way down than up.
Rackspace Holdings, Inc.(NYSE:RAX) the enterprise level cloud computing and hosting solution provider closed up 2.51% at $51.12 on heavy trading of 4.2 million shares, 4 times its 3 month average volume of 1.3 million shares. During the day, the stock actually reached its 52 week high of $52.45 before falling back again slightly. Although, the company’s predicted revenue growth for 2015 does not exceed its 16.5% increase in 2014, the consistent high growth is boosting interest in the stock and should drive it higher if the stable growth continues.
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