Diamonds and Dogs
9/17/14
FedEx Corporation (FDX)FedEx is delivering to investors today, up 3.27% to $159.71. The delivery company saw its shares jump after better than expected earnings. The company saw its first quarter revenue climb 6% to $11.7 billion which equates to an EPS of $2.10, both beating analysts' estimates. FedEx management also announced that it expects its full year EPS to be $8.50-9.00, and that they would hire an additional 50,000 temporary workers during the holiday season. Shares of FedEx closed up over $5 today and set a new 52-week high of $161.65.
Rackspace Hosting Inc. (RAX)
Rackspace is falling from the clouds today, down 17.67% to $32.39. The cloud solution company saw its shares plummet after announcing that it has ended its evaluation for alternatives that would result in the company being acquired. Rackspace's President Taylor Rhodes said that the company would remain independent due to its" reaccelerated revenue growth and its potential trajectory for the coming year." Investors are un-happy with the situation and shares fell nearly $7.00 today.
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