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Rackspace (RAX +12%) is taking off after posting a decent Q2 report featuring growing cash flow...

Rackspace (RAX +12%) is taking off after posting a decent Q2 report featuring growing cash flow and healthy customer data, and getting upgraded by Jefferies and Pac Crest in response. Jefferies predicts revenue growth will re-accelerate in 2013, fueled by demand for Rackspace's just-launched OpenStack cloud infrastructure solutions. 14.8% of Rackspace's float was shorted as of July 13.
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