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Actionable news in RAX: RACKSPACE HOSTING Inc,

Without Details of Rackspace Sales Talks, Shares Drop on Second-Half Outlook

Rackspace (RAX) CEO Taylor Rhodes would not address reports of sale talks with private equity firms during a second quarter earnings call. Even though the cloud services provider topped expectations for the period, markets focused on the the impact of Brexit and reduced sales from divested businesses on the second half of the year.

The company earned 28 cents per share, or 38 cents per share excluding items such as stock-based compensation, beating forecasts of 22 cents per share...


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