Rackspace higher after cancelling conference presentation


Bloomberg reports Rackspace (RAX +5.3%) has cancelled a presentation at an Oppenheimer cloud services conference set for next month, while citing a scheduling conflict. Shares have jumped in response.

The cancellation comes in the wake of CEO Lanham Napier's retirement. 16% of Rackspace's float was shorted as of Jan. 31.

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Comments (7)
  • CornStove
    , contributor
    Comments (219) | Send Message
     
    So .... what's going on ...? Short covering? Insiders know ... we don't!
    25 Feb 2014, 11:03 AM Reply Like
  • Siwanoy
    , contributor
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    Speculation about acquisition, probably. Lots of investors are expecting it as RAX looks like a ripe dangling plumb for the right company.
    25 Feb 2014, 12:53 PM Reply Like
  • georgina55
    , contributor
    Comments (2) | Send Message
     
    if there should be an acquisition, how do things look for existing shareholders? anyone know?
    25 Feb 2014, 08:32 PM Reply Like
  • georgina55
    , contributor
    Comments (2) | Send Message
     
    How would existing shareholders be affected, if there was to be an acquisition?
    25 Feb 2014, 08:32 PM Reply Like
  • tsunamitech
    , contributor
    Comments (4) | Send Message
     
    I'd live $IBM will buy $RAX, I'm long IBM and RAX.
    26 Feb 2014, 05:23 AM Reply Like
  • Siwanoy
    , contributor
    Comments (717) | Send Message
     
    IBM just acquired a company in which RAX was an investor. An integrator focused on enterprise IT looks most likely to me.....
    26 Feb 2014, 08:30 AM Reply Like
  • CornStove
    , contributor
    Comments (219) | Send Message
     
    I'm short on RAX, but it's a nervous short because if there is an aquisition, then the price almost always offered is above the currenty price and the stock will go upward. So what's the real inside story ... is the CEO and original founder looking to sell the company ...?
    2 Mar 2014, 11:21 AM Reply Like
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