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Rackspace loses $1 billion in market value

2015-05-14 00:42:13| IT Services - Topix.net

Rackspace Hosting Inc. lost more than $1 billion in market value this after the company reported lower-than-expected earnings earlier this week, Bloomberg reported . San Antonio-based Rackspace , a cloud computing and hosting company, saw its share price drop 14 percent to $45.96 per share at the New York Stock Exchange at the close of trading on Tuesday.

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