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 dipped in early trade, before settling into a range. Shares finished down by 12.88 at $39.36 on the highest volume of the year. The stock sank beneath support and set a new low for the year.
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