Rackspace Rises as Profit Beats Estimates: San Francisco Mover
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Rackspace Hosting Inc., the biggest competitor to Amazon.com Inc. in the market for Web-based data centers, reached a record high after sales and profit topped analysts’ estimates.
Rackspace shares climbed 8.9 percent to $53.60 at 9:32 a.m. in New York. Earlier it touched $54.09 for the highest intraday price since Aug. 8, 2008, when the company first traded publicly.