TECH STOCKS: Rackspace Gains Stand Out In Mixed Tech Session

By Dow Jones Business News, 

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:

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AT&T could strike deal for DirecTV soon

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This article appears in: Technology , Commodities

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

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