Rackspace, Priceline, Sirius: Tech Premarket
By James Rogers - 08/08/12 - 8:44 AM EDT
NEW YORK (TheStreet
) -- Rackspace
shares surged in premarket trading on Wednesday following the cloud computing specialist's robust second-quarter results
, released on Tuesday.
rival reported revenue of $319 million, an increase of 29% on the prior year's quarter, and above Wall Street's forecast of $317.7 million. Currency pressures, however, impacted net revenue by $2.3 million compared with the same period last year.
Rackspace, which does not break out non-GAAP EPS, said it earned 18 cents a share on net income of $25.1 million, up from 13 cents and $17.6 million in the same period last year. Analysts surveyed by Thomson Reuters
were looking for earnings of 18 cents a share.
The numbers pushed shares of Rackspace up 12.37% to $55.40 before market open Wednesday.
shares, however, plunged in premarket trading as investors responded to the company's weak
The online travel specialist, which reported its second-quarter results after market close on Tuesday, cited weakness in Europe as one of the main reasons for its soft guidance.
Priceline shares plunged 15.27% to $576 before market open. The Norwalk, Conn.-based firm was also one of the most active premarket Nasdaq
stocks on share volume of 88,553.
, which reported its second-quarter results
on Tuesday, dipped 0.87% to $2.28 in premarket, after closing up 4.55% during Tuesday trading.
The satellite radio specialist was also an active premarket Nasdaq stock on share volume of 190,356.
was another active Nasdaq stock, dipping 0.77% to $20.56 on share volume of 126,465.
--Written by James Rogers in New York.
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