Rackspace Hosting Inc. (RAX) reported third quarter EPS of $0.18 after the close Monday, compared to $0.11 in the previous year. The consensus estimate was for EPS of $0.16.
Rackspace Hosting gapped up sharply Tuesday and climbed steadily until mid-morning. The stock was range-bound for the remainder of the session and closed up by 4.93 at $42.25 on strong volume. Rackspace broke out past resistance and set nearly a 52-week high.
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