Rackspace, Facebook, Apple: Tech Premarket
NEW YORK (TheStreet) - Rackspace (RAX) was a loser in premarket trading Wednesday following the company's third-quarter results released on Tuesday.
The San Antonio, Texas.-based company reported revenue and profit in line with Wall Street's expectations, although investors were unimpressed by the numbers.
Rackspace shares were down 2.24% to $64.6 before market open.
Facebook (FB) was another laggard, down 1.71% to $20.81 before market open. The social networking phenomenon was also one of the most active premarket Nasdaq stocks on share volume of 256,004.
Sirius XM (SIRI) shares were off 0.73% to $2.79 on share volume of 548,037. Apple (AAPL) was also down in premarket trading on Wednesday, slipping 1.07% to $574 on share volume of 193,588. On Tuesday, the tech giant was told to pay $368.2 million to VirnetX (VHC), according to media reports. A federal jury ruled that Apple infringed VirnetX patents for VPN technology related to the company's FaceTime offering, Bloomberg reported. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: tips@thestreet.com.Select the service that is right for you!
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