Rackspace Hosting Inc. (RAX) reported first quarter net income of $0.19 per share after the close Wednesday, up from $0.17 per share last year. The consensus estimate was for EPS of $0.20.
Rackspace Hosting gapped open dramatically lower Thursday and is now down 12.09 at $40.15 on above average volume. The stock has dropped to over a 9-month low and is testing the lows of the year.
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