TECH STOCKS: Rackspace Gains Stand Out In Mixed Tech Session

By Dow Jones Business News, 
A A A


By Rex Crum, MarketWatch

SAN FRANCISCO (MarketWatch) -- Tech stocks ended up putting in a mixed trading session Tuesday, with Rackspace Hosting Inc. posting big gains in the wake of the company's upbeat quarterly results.

Rackspace ( RAX ), which provides Web-hosting services data centers and businesses using cloud-computing technologies, ended the day with a gain of 8.5% to close at $29.88 a share. On Monday, Rackspace reported a profit of $25.4 million, or 18 cents a share, on $421 million in sales, compared with earnings of $27.3 million, or 19 cents a share, on revenue of $362.2 million a year ago. Analysts surveyed by FactSet had forecast Rackspace to earn 12 cents a share on $419.3 million in sales.

DirecTV ( DTV ) shares fell 1.2%, to close at $86.08 following reports that AT&T Inc. ( T ) could finalize a deal to acquire the satellite TV company within two weeks.

EBay Inc. ( EBAY ) rose 25 cents a share to close at $51.58 as the e-commerce giant reiterated its full-year outlook at the company's annual shareholders meeting.

Apple Inc. ( AAPL ) rose 93 cents a share to close at $593.76 as investors awaited a possible announcement that the company will acquire Beats Electronics for $3.2 billion in a deal that could bring longtime music executive Jimmy Iovine into Apple's executive ranks.

The tech-heavy Nasdaq Composite Index (RIXF) fell 13 points to end the day at 4,130 while the Philadelphia Semiconductor Index (SOX) also recorded a small loss.

More tech news from MarketWatch:

Google told it must remove links by EU court

AT&T could strike deal for DirecTV soon

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


  (END) Dow Jones Newswires
  05-13-141619ET
  Copyright (c) 2014 Dow Jones & Company, Inc.


This article appears in: Technology , Commodities

Referenced Stocks: AAPL , DTV , EBAY , RAX , T

Dow Jones Business News


More from Dow Jones Business News:

Related Videos

How to Save Money at Bars
How to Save Money at Bars           

Stocks

Referenced

Most Active by Volume

44,823,339
  • $75.19 ▲ 0.28%
43,744,171
  • $3.44 ▼ 0.29%
42,340,022
  • $97.671 ▲ 0.66%
34,178,145
  • $17.62 ▼ 1.23%
34,028,998
  • $15.59 ▼ 0.19%
32,055,708
  • $21.23 ▼ 2.41%
31,539,235
  • $3.76 ▲ 0.80%
30,434,619
    $34.25 unch
As of 7/25/2014, 04:03 PM