Rackspace shares are rising due to investment of the expectations from Amazon

News

Rackspace shares are rising due to investment of the expectations from Amazon

21.08.2020 News

On Monday, shares of Amazon.com.Inc., Apollo Global Management and Rackspace Technology, which recently was listed on NASDAQ, rose respectively by 1.1%, 2.45% and 10.3%.

Positive news was reported by Reuters, about Amazon’s potential investment in Rackspace, which is both a partner and a competitor of the technology giant.

Rackspace is an expert on multi-cloud solutions, helping companies transfer their workloads to the “cloud” of Amazon Web Services (AWS), as well as other competing cloud services from Microsoft, Google, and VMware.

Apollo Global Management is the largest international investment company, owns a controlling stake of 65.1% of the votes in Rackspace.

During its IPO, Rackspace was valued at $ 4.2 billion on the basis of shares in circulation. The IPO was unsuccessful, as Rackspace shares fell to 22% on the first day. According to the listing of documents, last year Rackspace had total revenue of $ 2.44 billion and losses of $ 102.3 million, compared with $ 2.45 billion in revenue and losses of $ 470.6 million in 2018.

According to estimates of the Rackspace, its net loss in the second quarter of 2020 will range from $ 24 million to $ 44 million with revenues ranging from $ 655 million to $ 657 million.

Customers of Rackspace are 40% participants of Fortune 100, the coverage market – 120 countries and about 6800 employees.

Companies are not confirmed and not commented the information of Reuters, but according to the sources, if the Amazon purchase agreement of a minority stake in Rackspace will be held, for approval may take one to two months.

Successful business of Amazon is still thriving, although the AWS division showed a slower growth rate than the 33% growth in the first quarter, business traditionally proved to be the largest source of profit for the company in the second quarter. Revenue from AWS cloud services grew by almost from 29% to $ 10.81 billion.

From companies increased demand that “transfer their activities online” and growing in terms of pandemic, and experts say that in the future the tendency will continue.

Despite on a strong growth of 72.2% since the beginning of the year, Amazon`s shares are receiving high ratings and forecasts on Wall Street: 38 analysts rate shares with a “buy” rating and the another one with a “hold” rating. At the same time, the average analytical target price of Amazon shares of $ 3725.59 means that analysts are giving them a growth potential of 17% in the next 12 months.

Other articles

  • DiDi taxi service is planning the IPO on the Hong Kong Stock Exchange in 2021
    News

    DiDi taxi service is planning the IPO on the Hong Kong Stock Exchange in 2021

    The taxi service of the international Chinese company DiDi Chuxing intends to conduct the initial public offering (IPO) on the Hong Kong Stock Exchange. As reported by Reuters on Tuesday, citing sources, this may happen in the first half of 2021. By the time of the IPO, the estimated value of DiDi will be more […]

  • The US Antimonopoly Committee has called for the reform of the rules for the technology giants
    News

    The US Antimonopoly Committee has called for the reform of the rules for the technology giants

    On Tuesday, shares of the four largest US technology companies declined, as the 16-month government investigation of their competitive practices led to the first results in the form of 449-page report on their abuse of the market power. Shares of Apple, Amazon, Facebook and the parent company Google Alphabet fell to 2.9%, 3%, 2.26% and […]

  • The robotization of Amazon’s warehouses led to the increasing of the injuries among the employees
    News

    The robotization of Amazon’s warehouses led to the increasing of the injuries among the employees

    Introduced five years ago in Amazon’s warehouses the robots did not make the life easier for the employees – on the contrary, people are now forced to work four times faster. In addition, the robotics has brought Amazon warehouses to the record 14,000 serious injuries by the end of 2019. The current figures are to […]

  • Amazon announced the launch of Amazon Payment One by scanning the palm
    News

    Amazon announced the launch of Amazon Payment One by scanning the palm

    On Tuesday, Amazon announced another innovation – Amazon One technology, which will be tested for the first time in two Amazon Go stores in Seattle. The company has established in their new turnstiles which will be the quicker alternative to make the purchases. The format of the Amazon Go stores is designed so that customers […]

  • Roblox is preparing for the IPO
    News

    Roblox is preparing for the IPO

    American video game company, Roblox Corporation, is working with the investment banks on the preparation for listing on the US stock exchange, which may happen early next year. According to the Reuters, such step should help Roblox to take advantage becoming popular during the pandemic. The company expects to be able to double its recent […]

  • Amazon has introduced the new payment system of the purchases
    News

    Amazon has introduced the new payment system of the purchases

    The company Amazon announced the launch of a new biometric technology Amazon One, allowing to customers to enter the store and pay for purchases by placing their palm on the scanner. However, users must first associate biometric information with the credit card. And then you can pay by placing the palm. This was reported by […]

  • Fintech’s subsidiary Alibaba has aimed for the largest IPO in history
    News

    Fintech’s subsidiary Alibaba has aimed for the largest IPO in history

    A subsidiary of Alibaba Group – Ant Group – plans to attract $ 35 billion in the course on the Shanghai and the Hong Kong exchange. This was reported by Bloomberg. The IPO could be the largest in history, the agency emphasizes. The previous record holder, Saudi oil company Aramco, raised $ 29.4 billion. The […]

  • IPO Snowflake has become the largest in the history of IPO software
    News

    IPO Snowflake has become the largest in the history of IPO software

    After a sensational debut Snowflake on the NYSE on Wednesday, shares of the cloud storage and processing company are expected to fall ahead of trading on Thursday. Shares of Snowflake fell to 4.3%. Snowflake brought 28 million shares to the public market to raise $ 3.36 billion during the largest software IPO in history. Shares […]

Read also

Rackspace shares are rising due to investment of the expectations from Amazon
News

Uber Company attracts $ 2.1 billion of investments

The company plans to raise $ 2.1 billion of investments in a new round of funding. All the necessary documents have been drawn up and passed in Delaware. The world’s largest taxi service Uber, which head office is based in San Francisco, plans to spend the funds on its expansion, service development in Asia and […]

Next
Rackspace shares are rising due to investment of the expectations from Amazon
News

It is thinking about creating a school for pilots In YANAIR

Representatives of Yanair Ukrainian airlines are seriously thinking about creating their own flight school on the basis of the Zhytomyr airport. It came to be known to the journalists from CEO Volodymyr Sobolev. According to him, the last time Yanair received an impressive number of offers from foreign pilots who are willing to pay for […]

Next
Rackspace shares are rising due to investment of the expectations from Amazon
News

Ukrainian banks for three months closed 250 branches

In July-September 2020, Ukrainian banks closed 251of the structural subdivisions, reducing the regional network to 7329 branches by October 1. This is stated in the data of the National Bank. Most branches in the third quarter were closed by the state Oschadbank – 166, reducing its total number to 1931. During the same period, the […]

Next
Rackspace shares are rising due to investment of the expectations from Amazon
News

Lauffer Group invests in its businesses in Kharkiv 10 mln. UAH

Lauffer Group plans to increase investment in its bakeries in Kharkiv to 10 million UAH, – writes the press service of the company. According to the head of the business Lauffer Group in Kharkov, Bogdan Alexandrov, in 2015 the company invested in Kharkiv bakeries 4 million UAH. “Re-equipment of the production was carried out in […]

Next
Rackspace shares are rising due to investment of the expectations from Amazon
News

“MTS Ukraine” buys “TriMob” for 3 billion UAH

“MTS Ukraine” (Vodafone Ukraine), telecommunication  company  reached an agreement with “Ukrtelecom” about buying mobile operator “TriMob”. As noted, the the transaction amounted to about $ 120 million (3 billion UAH). According to  one source ,  negotiations about the deal  began  since the spring of last year, when  the “MTS Ukraine” has sold its fixed network […]

Next
Rackspace shares are rising due to investment of the expectations from Amazon
News

Pandora Media bought a bankrupt competitor Rdio for $ 75 million

December 23, 2015, the representatives of the largest streaming service in the USA Pandora Media reported that the company absorbed the music service Rdio, which become bankrupt, for $ 75 million. The deal was approved by the judge on the bankruptcy. There were no competing bids for the purchase of service. Pandora now becomes  the […]

Next
Rackspace shares are rising due to investment of the expectations from Amazon
News

Boyden starts working in Ukraine

In Ukraine Boyden Global,one of the leaders in the market of personnel recruitment and provision of consulting services will begin work in the nearest future.Executive Search multi-national company. According to Aleksei Dolgikh,the head of the Ukrainian Boyden office: “the working group of specialists is already created and ready to work”. The former director of Pedersen&Partners […]

Next
Rackspace shares are rising due to investment of the expectations from Amazon
News

Odessa investors will invest $ 20,000 in the Ukrainian startup Luciding

One of the most mysterious Ukrainian startups – the device developer to lucid dreamings Luciding – attracted new investments. This time the startup was financed by the iQSpace, for whom this was the first deal. The Luciding will receive in general  about  $ 20 000, and at this moment they received the first tranche – […]

Next
Rackspace shares are rising due to investment of the expectations from Amazon
News

Cargill investment project for $ 100 million is blocked

The investment project of the company with US capital Cargill of about $ 90-100 million is blocked. Alexander Kramarenko, the chief editor of the “Money” magazine, told about this in his blog “By what Ukraine scares foreign investors”. “Delta Bank and Cargill”. Cargill is an agricultural business with a century and a half of history, […]

Next
Rackspace shares are rising due to investment of the expectations from Amazon
News

Mondelez International Company evading taxes in the UK amounting to £ 2 billion.

Sunday Times newspaper has investigated and reported as Mondelez International (formerly known as Kraft Foods)-the biggest in North America and the second largest worldwide producer of food avoid paying taxes. According to the Sunday Times, the Cadbury owner – Mondelez International Company (formerly known as Kraft Foods), legally evaded taxes in the amount of tens […]

Next
Rackspace shares are rising due to investment of the expectations from Amazon
News

Bank of Japan will conduct the tests of digital currency

The Bank of Japan has announced plans to begin experimenting with the digital currency early next fiscal year. At the first stage, it is planned to test the main functions of the digital currency, including the methods of its issuance and circulation. The second stage involves additional technical experiments. The Bank of Japan may then […]

Next
Rackspace shares are rising due to investment of the expectations from Amazon
News

In Kiev passed OSAC quarterly meeting dedicated to providing business

December  7, 2015 in Kiev in Radisson Blu Hotel passed a regular consultation meeting Overseas Security Advisory Council (OSAC). OSAC is an advisory body on security of US citizens and businesses abroad. It operates under the auspices of the US State Department. OSAC activities abroad aimed at cooperation in the security business. The composition of […]

Next
Rackspace shares are rising due to investment of the expectations from Amazon
News

Ukraine doesn’t enter in world steel top-10

Following the results of October 2016 Ukraine has remained beyond limits top-10 of  the largest global manufacturers of steel. According to world steel association, the Ukrainian metallurgists made 1,93 million tonnes that are 6,1% less, than the previous year. However, it is slightly better than the result of September 2016.Italy again forced Ukraine from top-10 […]

Next
Rackspace shares are rising due to investment of the expectations from Amazon
News

Kiev bank intends to sue with the Creative of the $ 15 million debt

Kyiv bank “Piraeus Bank ICB” asks the Commercial Court of Kirovograd region to recover from the “Creative”company, which entering into the “Creative Group”, $ 15,629,000 of the loan debt,  – reports the “ProAgro”. This is stated in the bench ruling of the court from January 27, 2016. “Piraeus Bank ICB” filed a lawsuit to recover […]

Next
Rackspace shares are rising due to investment of the expectations from Amazon
News

OPEC+ Countries Decided To Increase Oil Production

On July 15, OPEC + countries decided at a meeting to gradually increase oil production due to improved demand. “During a meeting of the ministerial monitoring committee, both co-chairs, Russian and Saudi energy ministers Alexander Novak and Prince Abdulaziz bin Salman, said that demand for oil was recovering and production could be increased, but the […]

Next
Rackspace shares are rising due to investment of the expectations from Amazon
News

The Austrian investors to construct the new plant in Ukraine

The leadership of the Ukrainian industrial complex of LLC “Zakhid Agroprodukt” has reported to the mass media about receipt of the perspective offer from the Austrian investors. Foreign entrepreneurs whose names haven’t disclosed yet took the initiative to invest about 2 million euros in the development of the entity in the territory of the Ternopil […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com