Rackspace (RAX) -1.1% following a downgrade to Hold from Jefferies. The firm is worried...
Wednesday, June 6, 2012, 9:29 AM ETRackspace (RAX) -1.1% following a downgrade to Hold from Jefferies. The firm is worried Rackspace's growth could "modestly slow down" as it migrates its cloud solutions to the OpenStack cloud infrastructure platform. Rackspace and many IT giants are hoping OpenStack will prevent rapidly-growing Amazon Web Services (AMZN), which counts Zynga, Dropbox, Netflix, and Pinterest among its customers, from dominating the cloud infrastructure market.
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