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Stock Market & Financial Investment News

News Breaks
January 3, 2014
09:44 EDTRAXRumor: Rackspace moves up on speculation of an activist stake
News For RAX From The Last 14 Days
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July 23, 2015
12:04 EDTRAXRackspace, Intel announce OpenStack collaboration
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July 14, 2015
09:47 EDTRAXRackspace up 3% after CRN says deal close with Amazon Web Services
09:45 EDTRAXRackspace preparing deal with Amazon Web Services, CRN reports
In addition to its deal announced yesterday with Microsoft (MSFT) Azure, Rackspace is preparing an alliance with Amazon (AMZN) Web Services, CRN reported last night, citing a source. Reference Link
July 13, 2015
12:01 EDTRAXRackspace agreement with Microsoft a positive, says Wells Fargo
Wells Fargo views Rackspace's (RAX) agreement to support Microsoft's (MSFT) Azure cloud service as a positive for shares. While Wells expect minimal revenue contribution from the partnership in 2015, it thinks the pact expands Rackspace's addressable market. The agreement should also help should Rackspace improve capital returns, Wells tells investors in a research note. It keeps an Outperform rating on the stock.
11:53 EDTRAXRackspace July volatility at low end of range
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11:35 EDTRAXRackspace enters pact with Microsoft to support Azure cloud services
Rackspace (RAX) announced that it has expanded its service offering for its Microsoft (MSFT) product portfolio with "Fanatical Support for Microsoft Azure." Rackspace will work with customers to understand their requirements and create solutions that incorporate and maximize the latest Azure technologies, the company said. Customers can purchase Azure infrastructure and support as a bundle from Rackspace, whose experts can help them with architectural and on-boarding guidance. Customers who already use Azure infrastructure and want support and management expertise can get Rackspace managed services for their infrastructure as a separate cost based on their infrastructure spend. At launch, the offering will be generally available for U.S. based customers and will expand to International customers through early 2016, Rackspace said.
10:20 EDTRAX, RAXRackspace price target lowered to $40 from $52 at CLSA
CLSA said Rackspace expectations have come down but it is incrementally more concerned about long-term trends and sees challenges on how to acquire and grow $1M customers and how not to lose is core small-medium business customers. The firm rates shares an Outperform but lowered its price target on shares to $40 from $52.

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