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Actionable news in RAX: RACKSPACE HOSTING Inc,

Weekend Thoughts: Four Stocks Flying to the Moon

Quarterly reporting continued on August 4, with (1) Activision (ATVI) blowing past estimates…again. Activision earned $0.45 per share ($0.41/sh consensus) and sales of $1.57B ($1.46B estimates).

At a forward P/E of 19, ATVI is not easy profits for bulls but the stock will unlikely fall.

(2) Rackspace (RAX) shot higher on rumors it is once again looking for buyers.

(3) Array Biopharma (ARRY) gave an update on its binimetinib and encorafenib. Novartis (NVS) paid 107.3M in the...