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Rackspace Hosting Inc. (RAX) Broke Out To A New High On Q4 Results

Rackspace Hosting Inc. (RAX: Quote) reported fourth quarter net income of $0.18 per share after the bell Monday, compared to $0.10 per share in the previous year. The consensus estimate was for EPS of $0.15.

Rackspace Hosting gapped up sharply Tuesday and climbed during the first 45 minutes of trade. Shares advanced further around the middle of the afternoon and closed higher by 6.22 at $55.45 on the highest volume of the year. The stock broke out of a one-week range and set a new high for the year.

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by RTT Staff Writer

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