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Rackspace Hosting Inc. (RAX) Is Up Sharply After Q3 Profit Beat

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 open sharply higher Tuesday morning and is now up 2.57 at $39.89 on above average volume. The stock is now challenging resistance at the highs of the year.

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Inflation data from the U.S. garnered maximum attention this week on the economics front, along with the interest rate decision by the European Central Bank. Read our stories to find out how these two key events are set to influence monetary policy in the months ahead. Other main news from the U.S. were the release of the minutes of the latest Fed policy session and the jobless claims data. Elsewhere, the interest rate decision by the Bank of Canada was also in focus.

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