Rackspace is trying to become the leader in cloud offerings and the Street will be closely watching its earnings report on Monday. Rackspace's stock has been sliding since the beginning of this year but investors are optimistic. Analysts are looking for earnings of $0.12 cents a share, down $0.07 cents from a year ago, on $419 million in revenues. They're also expecting to see a sales growth of almost 16 percent. The competition is steep as Google, IBM, Amazon and Microsoft increase cloud capabilities. However, the competitive landscape is in its early stages and more than one provider could benefit from the increased demand for cloud storage and services.

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