Rackspace Hosting Inc. (RAX) 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.
by RTT Staff Writer
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