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Aug. 17, 2020, 11:37 a.m. EDT

Rackspace stock rallies on report of Amazon interest in stake

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By Wallace Witkowski

Rackspace Technology Inc. /zigman2/quotes/219801308/composite RXT +2.64% shares rallied Monday following a report that Amazon.com Inc. /zigman2/quotes/210331248/composite AMZN +0.48% was in early talks to invest in the cloud-technology services company. Rackspace shares jumped as much as 19% in early trading and were last up 11% at $18.44. On Monday, Reuters reported that Amazon was looking to acquire a minority stake in Rackspace. The company re-emerged as a publicly traded one earlier in the month and shares dropped 22% on their first day. Rackspace is 65% owned by Apollo Global Management Inc. /zigman2/quotes/203829595/composite APO +1.54% , which acquired the company for $4.3 billion back in 2016.. Apollo shares were last up 2.5% at $48.55.

/zigman2/quotes/219801308/composite
US : U.S.: Nasdaq
$ 18.47
+0.47 +2.64%
Volume: 381,425
July 23, 2021 12:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.74 billion
Rev. per Employee
$375,986
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/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 3,655.32
+17.29 +0.48%
Volume: 1.23M
July 23, 2021 1:00p
P/E Ratio
69.61
Dividend Yield
N/A
Market Cap
$1834.74 billion
Rev. per Employee
$297,430
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/zigman2/quotes/203829595/composite
US : U.S.: NYSE
$ 59.41
+0.90 +1.54%
Volume: 836,849
July 23, 2021 1:00p
P/E Ratio
7.74
Dividend Yield
3.36%
Market Cap
$23.76 billion
Rev. per Employee
$1.39M
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