Key Developments: Rackspace Hosting Inc (RAX)
38.01USD
21 May 2013
$-1.28 (-3.26%)
$39.68
$39.27
$39.46
$37.81
3,237,778
2,534,867
$81.36
$37.81
Latest Key Developments (Source: Significant Developments)
Rackspace Hosting Inc Issues Q2 2013 Revenue Guidance Below Analysts' Estimates-Conference Call
Rackspace Hosting Inc announced that for second quarter of 2013, it expects revenue in a range of $369 million to $375 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $384 million for second quarter of 2013. Full Article
Red Hat Inc Ands Rackspace Hosting Inc Announces dismissal of all claims in lawsuit brought by Uniloc USA, Inc
Red Hat Inc and Rackspace Hosting Inc announced that they have won a federal court decision granting early dismissal of all claims in a lawsuit brought by the patent assertion entity Uniloc USA, Inc. Plaintiff Uniloc USA, Inc. is a frequent litigator, having brought patent lawsuits against many high-tech companies including Adobe, Microsoft, Sony and Symantec. Rackspace provides its customers with managed servers running the Linux operating system. Red Hat, which supplies Linux to Rackspace, provided Rackspace`s defense as part of Red Hat`s commitment to standing behind customers through Red Hat`s Open Source Assurance program. Uniloc USA, Inc. filed the complaint against Rackspace in June 2012 in federal court in the Eastern District of Texas. The complaint alleged that the processing of floating point numbers by the Linux operating system violated U.S. Patent 5,892,697. Rackspace and Red Hat immediately moved to dismiss the case prior to filing an answer. In dismissing the case, Chief Judge Leonard Davis found that Uniloc`s claim was unpatentable under Supreme Court case law that prohibits the patenting of mathematical algorithms. Full Article
Rackspace Hosting Inc To Acquire Mailgun Inc
Rackspace Hosting Inc announced that it has entered into a definitive agreement to acquire Mailgun, Inc., a Y Combinator startup. On the heels of the Rackspace Open Cloud launch, the Mailgun acquisition will further enhance Rackspace’s product portfolio, making it easy to integrate cloud-based email services into applications and websites within minutes. The acquisition is expected to close in a week. Built for developers, Mailgun provides a powerful set of APIs that allows users to send, receive, and track email easily from within their applications – without managing an email server or becoming an expert in email setup, operations and deliverability. Financial terms were not mentioned. Full Article
Rackspace Hosting Inc Announces Selection As Vendor To Government’s GBP60 Million G-Cloud Framework
Rackspace Hosting Inc annoucned that it has been selected as a vendor to the government’s GBP60million G-Cloud framework. Rackspace can supply Infrastructure-as-a-Service (IaaS) and higher level Platform-as-a-Service (PaaS) technologies to UK Government departments. Full Article
Rackspace Hosting Inc Acquires SharePoint911
Rackspace Hosting Inc announced that it has acquired SharePoint911, which is into SharePoint consulting, training, and 'JumpStart' services within SharePoint. Full Article
Rackspace Hosting Inc Promotes Lew Moorman To President
Rackspace Hosting Inc announced the promotion of Lew Moorman to President, effective immediately. Moorman, will continue to report to Lanham Napier. With the promotion, Moorman will assume the title of President and Napier will continue to serve as Chief Executive Officer. Previously Moorman was President, Cloud and Chief Strategy Officer. Full Article
Rackspace Hosting Inc Announces Chief Financial Officer
Rackspace Hosting Inc announced the appointment of Karl Pichler, 39, as Chief Financial Officer (CFO) and principal financial officer, effective November 10, 2011. Pichler has been serving as interim CFO since April 15, 2011. Full Article
Rackspace expects revenue below estimates as price cuts weigh
- Rackspace Hosting Inc, which leases online storage space to companies, forecast current-quarter revenue below analysts' estimates as effects of product price cuts linger, sending its shares down 17 percent in after-hours trading.
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