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Rackspace Hosting Earnings Review: 12 Days after Announcement Shares Down 24.0% (RAX)May 20, 2013 (SmarTrend(R) News Watch via COMTEX) -- When Rackspace Hosting (NYSE:RAX) reported earnings a week ago on May 8th, 2013, analysts, on average, expected the company to report earnings of $0.20 on sales of $366.6 million. The company actually reported EPS of $0.21 on sales of $362.2 million, beating EPS estimates by $0.01 and missing revenue estimates by $4.4 million. Shares of Rackspace Hosting have slipped from $52.24 to $39.68, representing a loss of 24.0%, since the company reported earnings 12 days ago. Rackspace Hosting share prices have moved between a 52-week high of $81.36 and a 52-week low of $38.30 and are now trading 4% above that low price at $39.68 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 3.2%. SmarTrend recommended that its subscribers protect gains by selling shares of Rackspace Hosting on February 13th, 2013 by issuing a Downtrend alert when the shares were trading at $62.47. Since that call, shares of Rackspace Hosting have fallen 36.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |