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

  • JD.com will be the first platform to accept China’s cryptocurrency
    News

    JD.com will be the first platform to accept China’s cryptocurrency

    Chinese e-commerce company JD.com Inc announced on Saturday that it will be the first platform in the country to accept China’s digital currency. The Central Bank of China will hold its second digital yuan lottery among citizens of Suzhou, near Shanghai on Friday. The total amount of playable digital yuan is 20 million ($ 3.06 […]

  • Airbnb will try to get an estimate of $ 35 billion for an IPO
    News

    Airbnb will try to get an estimate of $ 35 billion for an IPO

    According to Bloomberg, citing documents submitted to the Securities and Exchange Commission (SEC), the short-term rental service Airbnb plans to raise $ 2.6 billion in listing in the US and receive an estimate of $ 35 billion. If the company manages to raise $ 2.6 billion, Airbnb’s placement will be the fourth largest IPO in […]

  • Amazon is releasing updated Echo Frames smart glasses with Alexa
    News

    Amazon is releasing updated Echo Frames smart glasses with Alexa

    On Thursday, Amazon announced the release of its updated smart glasses Echo Frames starting on December 10. Now everyone will be able to buy it. The new product from Amazon for $ 250 will go on sale just before the holiday weeks, which is a good time to start the release. Analysts and market experts […]

  • Airbnb intends to raise $ 1 billion from the initial public offering
    News

    Airbnb intends to raise $ 1 billion from the initial public offering

    The American company Airbnb, which is the operator of the rental service of the same name, expects to raise $ 1 billion through an initial public offering (IPO). This is stated in a statement posted on Monday on the website of the Federal Securities and Exchange Commission. The company clarifies that its plans are “preliminary […]

  • Saudi Aramco is preparing to place up to five tranches of dollar Eurobonds
    News

    Saudi Aramco is preparing to place up to five tranches of dollar Eurobonds

    The state corporation Saudi Aramco is preparing to place dollar Eurobonds, a source in banking circles said. According to him, the company is considering the possibility of placing up to five tranches of Eurobonds: with a maturity of three years, five years, ten years, as well as thirty and / or fifty years. Starting on […]

  • Shares of Zoom and other IT companies crashed on news of successful testing of the vaccine from COVID-19
    News

    Shares of Zoom and other IT companies crashed on news of successful testing of the vaccine from COVID-19

    Shares of Zoom and other companies, which rose amid the pandemic and lockdown, fell in trading on Monday. The reason was the announcement of two biotechnology companies about the successful testing of a promising vaccine, writes CNBC. Shares of the Zoom video conferencing service fell 17.4% by the end of the trading day. Amazon and […]

  • Alibaba’s financial report exceeded expectations, with a record 60% growth in the cloud computing business
    News

    Alibaba’s financial report exceeded expectations, with a record 60% growth in the cloud computing business

    Shares of Alibaba, up 35.7% since the beginning of the year but down almost 8% this week, rose 5.3% during trading on Friday after China’s largest public company announced second-quarter results financial year 2021, which ended in September. Alibaba’s quarterly report was preceded by news of the termination of the IPO of financial technology company […]

  • Amazon reported a 37% increase in revenue
    News

    Amazon reported a 37% increase in revenue

    Shares of Amazon, which rose by 73.8% since the beginning of the year (more than the growth of Apple, Microsoft, Google and Facebook), fell 2% after closing trading on Thursday, when the company released a report for the 3rd quarter, which ended September 30. Amazon set a new revenue record, e-commerce increased sales by 57% […]

Read also

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

Agrotrade extended the cooperation with the EBRD

The “Agrotrade” Company Group renegotiated long-term agreements with the European Bank for Reconstruction and Development (EBRD) for the next 5 years, – said the press service of the company. According to the report, it will be key to the success of the Group companies, to improve the investment climate in the region, economic development and […]

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

Airbnb intends to raise $ 1 billion from the initial public offering

The American company Airbnb, which is the operator of the rental service of the same name, expects to raise $ 1 billion through an initial public offering (IPO). This is stated in a statement posted on Monday on the website of the Federal Securities and Exchange Commission. The company clarifies that its plans are “preliminary […]

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

The “Interhim” Odessa pharmaceutical company invested 42 million UAH in its production

The “Interhim” pharmaceutical company has completed the construction of laboratory and manufacturing facility in Odessa. Besides, the company has invested in increasing of production capacities. This step will allow the company to increase 4 times its production. At the beginning of May  2016 the total investment  is  42 million euros. The number of new jobs […]

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

Ukraine — Sweden: the centuries-old traditions of cooperation are continuing

During the times of Kyivan Rus people which came from Scandinavia, the Vikings, were often called Varangians. In the 19th century, according to the chronicle, they had not only strong trade but also political relations with Russia (it is worth mentioning that the wife of Yaroslav the Wise, princess Ingigerda, was the daughter of Swedish […]

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

Large companies are opposed to the new British Telecommunications Act

The new draft law on telecommunications in UK suggests that companies, mobile operators, Internet – companies will have to keep the data  about activity of  their customers online for one year, and this will enable special services to require  this data  if necessary and  to read them. According to the information of the British Government, […]

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

Ukraine, IMF and $ 1 billion: who owes whom?

In the current 2017 the debt amount that is obligated to return Ukraine to the International Monetary Fund is $ 1 billion. Given the fact that the state at present is in anticipation of the next transfer of credit funds from the Fund, in fact, it will be “shifted from one pocket to other”. This […]

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

HarvEast invests 3 million UAH in the implementation of social projects

HarvEast Agro, together with the heads of the state district administrations and district councils in the territories of the company will determine the presence of social finance projects for 2016. The parties have agreed this on this year’s first collective meeting, which took place in Mangushevskyi, Volodarskyi and Volnovakhskyi districts, Donetsk region. In the near […]

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

Stable Instability of the Hryvnia Exchange Rate

The most important question about the hryvnia rate is: “How to react to its fluctuations?” No one doubts that they will necessarily take place, and they will be essential. Negative expectations cause the imbalance in buying and selling the currency, due to this, the hryvnia exchange rate is really decreasing. However, skilled players manage not […]

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

IBM has introduced a new generation POWER10 processor for hybrid cloud computing

Corporation of International Business Machines Corp on Monday announced an edition of a new central processing unit (CPU) for data centers POWER10. According to the company’s press release, the processor is made in the form factor of 7 nm with increased energy efficiency and three times better workload capacity than the previous generation of IBM […]

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

Millions of Volkswagen customers have been affected by the data leak

The American division of the automaker Volkswagen AG reported a data leak, which affected more than 3.3 million customers and potential buyers in North America. Reuters with reference to the Volkswagen Group of America reported this. “The leak occurred after one of the company’s suppliers in the period between August 2019 and May 2021 left […]

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

China and Korea are investing in Ukraine?

In Ukraine this year can begin flow the investment from Korea and China. It became known from the message of the investment portal InVenture. This development scenario is possible with the signing of an agreement on free trade zone with China. About potential investment operations notified Oleh Ustenko – Executive Director of the company, which […]

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

Naftogaz commented on the searches

During a visit to Washington, the head of Naftogaz Yuri Vitrenko commented on searches of the company in the case of non-payment of VAT for 2.7 billion hryvnias for Russian gas. “On the one hand, the State Fiscal Service constantly checks Naftogaz. That is, there is nothing surprising in the fact that there is another […]

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

Cargill and MV Cargo signed a contract with the Administration of Seaports of Ukraine to build terminal in the Yuzhnyi port

Cargill and MV Cargo  entered into an agreement with the Administration of Seaports of Ukraine on the construction of a grain terminal in the Yuzhnyi  port with a capacity of 5 million tons per year. The signing ceremony took place at the Administration of Seaports of Ukraine (ASU) in  March, 23. The document was signed […]

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

Peloton’s revenue exceeds Wall Street estimates for the fifth consecutive quarter

Shares of Peloton, which rose nearly 346% since the beginning of the year, rose 2% during trading on Friday after the company published the results of the first quarter of fiscal 2021, which ended September 30. Peloton, which went public a little over a year ago, reported earnings per share for the second quarter in […]

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

Microsoft has frozen financing politicians in the US

Microsoft has frozen donations to American politicians who voted against Joe Biden’s approval as president after the election. This decision will be valid until 2022. In addition, Microsoft will not support state-level politicians and organizations that have tried to challenge the election results. According to Brad Smith, the president of the corporation, in the last […]

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
WP2Social Auto Publish Powered By : XYZScripts.com