Seeking Alpha

Rackspace spikes; MS reportedly hired to evaluate options

  • Bloomberg reports Rackspace (RAX +9.6%) has hired Morgan Stanley to evaluate "inbound strategic proposals" and other options. Shares spiked shortly before the close, and are up another 1.2% AH.
  • Rackspace jumped earlier this week on a Q1 beat and solid guidance, but shares remain well off their Jan. '13 high of $81.36, thanks in part to worries about intense cloud infrastructure (IaaS) price pressure, and the impact of IaaS services on Rackspace's traditional hosting business.
  • The February retirement of CEO Lanham Napier has already fueled M&A speculation.
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|