Equity Analyst News: Amazon.com, Symantec, NeurogesX, Rare Element

Amazon.com Inc.(NASDAQ:AMZN): Nomura commented on reports that said Amazon.com (NASDAQ:AMZN) will be cutting rates on data storage. The firm said Rackspace (NYSE:RAX) is a direct competitor and offers higher value services other than storage but this could raise fears of increased competition.

Symantec Corporation(NASDAQ:SYMC): According to contacts, DealReporter said Symantec may be a target of private equity but market conditions make it difficult, citing sources.

NeurogesX, Inc.(NASDAQ:NGSX): After analyzing briefing documents released by the FDA on NeurogesX’s sNDA for pain associated with HIV neuropathy, Ladenburg sees only a small chance that an FDA panel will vote to recommend the drug for approval on February 9. Although the drug showed some evidence of pain reduction, the benefits weren’t considered statistically significant,explained the firm, which maintains a Buy rating on the stock.

Rare Element Res Ltd(AMEX:REE): JP Morgan said today’s article in the Nikkei reporting that the Japanese Ministry of Economy is planning to cut dysprosium demand by over 30% is a negative for Rare Element (AMEX:REE) as it reduces demand.

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

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