Rackspace higher after cancelling conference presentation

|About: Rackspace Hosting, Inc. (RAX)|By:, SA News Editor

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.