This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Rackspace, Priceline, Sirius: Tech Premarket

NEW YORK ( TheStreet) -- Rackspace (RAX - Get Report) shares surged in premarket trading on Wednesday following the cloud computing specialist's robust second-quarter results, released on Tuesday.

The AT&T (T - Get Report) and Savvis rival reported revenue of $319 million, an increase of 29% on the prior year's quarter, and above Wall Street's forecast of $317.7 million. Currency pressures, however, impacted net revenue by $2.3 million compared with the same period last year.

Rackspace, which does not break out non-GAAP EPS, said it earned 18 cents a share on net income of $25.1 million, up from 13 cents and $17.6 million in the same period last year. Analysts surveyed by Thomson Reuters were looking for earnings of 18 cents a share.

The numbers pushed shares of Rackspace up 12.37% to $55.40 before market open Wednesday. (PCLN - Get Report) shares, however, plunged in premarket trading as investors responded to the company's weak third-quarter outlook.

The online travel specialist, which reported its second-quarter results after market close on Tuesday, cited weakness in Europe as one of the main reasons for its soft guidance.

Priceline shares plunged 15.27% to $576 before market open. The Norwalk, Conn.-based firm was also one of the most active premarket Nasdaq stocks on share volume of 88,553.

Sirius XM (SIRI - Get Report), which reported its second-quarter results on Tuesday, dipped 0.87% to $2.28 in premarket, after closing up 4.55% during Tuesday trading.

The satellite radio specialist was also an active premarket Nasdaq stock on share volume of 190,356.

Facebook (FB - Get Report) was another active Nasdaq stock, dipping 0.77% to $20.56 on share volume of 126,465.

--Written by James Rogers in New York.

>To submit a news tip, send an email to:

Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
FB $104.07 0.00%
PCLN $1,015.55 0.00%
RAX $19.94 0.00%
SIRI $3.42 0.00%
T $36.88 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs