Actionable news
All posts from Actionable news
Actionable news in RAX: RACKSPACE HOSTING Inc,

Rackspace (RAX) Stock Soars in After-Hours Trade on Takeover Speculation

NEW YORK (TheStreet) -- Shares of Rackspace (RAX) were jumping 15.25% to $30.60 in after-hours trading following speculation that the company is in advanced talks to sell to a private equity firm, CNBC reports.

The deal could be announced as early as this week.

Rackspace, a San Antonio, TX-based data hosting technology company, has a market cap around $3 billion, but the deal could value the company at up to $4 billion, according to sources cited by Barron's.

The stock was halted briefly...