ADVFN - Advanced Financial Network.
HOME» NYSE » R » RAX Stock Price » RAX Stock News

Rackspace Hosting Share News

 Rackspace Hosting Stock Price
RAX Stock Price
 Rackspace Hosting Stock Chart
RAX Stock Chart
 Rackspace Hosting Stock News
RAX Stock News
 Rackspace Hosting Company Information
RAX Company Information
 Rackspace Hosting Stock Trades
RAX Stock Trades

IBM Unveils Cloud-Computing Initiative Aimed At Large Companies

By Steven Russolillo and Shara Tibken Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- International Business Machines Corp. (IBM) unveiled new software to help large companies move some of their operations onto the Internet, the latest move by the technology company to capitalize on the fast-growing trend of cloud computing. IBM on Thursday announced a new service--dubbed "Smartcloud"--that will enable clients to use a Web-based interface to install applications and configure databases on a platform provided by the company. The initiative is part of IBM's push to expand into the cloud, one of the fastest growing areas in information technology. IBM's move further highlights how businesses are showing a greater interest in cloud computing, which enables more cost-efficient access to computer servers and data storage over the Internet and internal networks. Cloud computing has become a catch-all term associated with the savings gleamed from moving applications online as opposed to buying and managing software and physical equipment. IBM has said it expects cloud computing to grow into a $7 billion business by 2015. The company hasn't disclosed how much of its revenue currently comes from cloud computing, but the company has said its cloud revenue doubled in 2010 and is expected to double again this year. "We're already in the billion-dollar club today," Steve Mills, IBM senior vice president and group executive of systems and software, said in an interview with Dow Jones Newswires. Data tracker In-Stat LLC has said U.S. spending on cloud computing and managed hosting should surpass $13 billion in 2014, up from less than $3 billion in 2010. IBM is attempting to differentiate itself from some of the main players who have already made big bets on the cloud. Competitors such as Amazon.com Inc.'s (AMZN) Web Services, Microsoft Corp. (MSFT) and Google Inc. (GOOG) employ cloud features that let customers pay for what they use, like a utility, as opposed to plunking down a fixed investment. IBM says its offering includes more features aimed toward large enterprise customers, such as heightened security, data privacy and the ability to certify the system for regulatory requirements. Moreover, IBM is offering a plethora of options, including public, private and hybrid clouds. "This is a strong advance among several in the industry for helping enterprise IT take advantage of cloud technologies and new cloud business models," said Frank Gillett, a vice president and principal analyst at Forrester Research Inc. "IBM's announcement isn't unique, but it's a good step forward." A typical client would spend tens of thousands of dollars a month on the new offering, IBM's Mills said, though the amount will vary based on what services the customer is using. "There's no reason why (companies) couldn't move some fairly significant production work (to the cloud) and literally start to spend hundreds of thousands or even millions a month," he said. The unveiling of IBM's SmartCloud, however, comes amid ongoing concerns surrounding security and reliability of the cloud as well as the ability to integrate current infrastructure with new cloud services "This announcement offers customers more flexibility to address different issues and concerns within the cloud," said Joseph Foresi, an analyst at Janney Montgomery Scott LLC. IBM joins a host of tech companies who have recently made big cloud announcements. Earlier Thursday, Dell Inc. (DELL) said it will invest $1 billion worldwide in the current fiscal year to build new data centers and develop sets of products in areas such as virtualization. The spending is part of Dell's effort to expand its business outside of computer hardware. Last week, Rackspace Hosting Inc. (RAX), Dell and Equinix Inc. (EQIX) said they have collaborated to develop an open-source cloud-computing platform--called OpenStack--which is aimed to compete against Amazon Web Services. Last month, Hewlett-Packard Co. (HPQ) Chief Executive Leo Apotheker outlined plans to roll out new cloud-computing services over the next few years that he hopes will become a one-stop shop for businesses and consumers to store and retrieve data over the Web. -By Steven Russolillo and Shara Tibken, Dow Jones Newswires; 212-416-2180; steven.russolillo@dowjones.com

Stock News for Rackspace Hosting (RAX)
DateTimeHeadline
03/25/201416:38:44TECH STOCKS: Rackspace, Zynga Rise Amid Mild Tech Gains
03/25/201414:43:35TECH STOCKS: Rackspace, Zynga Get Noticed Among Tech Gainers
03/25/201411:15:05TECH STOCKS: Rackspace, EBay Get Noticed In Broad Tech Gains
02/11/201417:19:25MARKET SNAPSHOT: U.S. Stocks Extend 4-day Winning Streak
02/11/201416:46:07TECH STOCKS: Tech Stocks Join Rally Fueled By Yellen's Comments
02/11/201413:45:13MARKET SNAPSHOT: U.S. Stocks Rally On Yellen Testimony
02/11/201411:22:24TECH STOCKS: Infoblox, Rackspace See Big Losses On Poor Outlook
02/11/201411:11:35MARKET SNAPSHOT: U.S. Stocks Rise; Yellen Keeps Fed Policy Intact
02/11/201411:10:29MARKET SNAPSHOT: U.S. Stocks Edge Higher; Yellen Sounds Dovish
02/11/201409:38:44U.S. Hot Stocks: Hot Stocks to Watch
02/10/201417:04:51Rackspace CEO Retires; Profit Falls 30% on Higher Costs
11/15/201308:12:57Fidelity Management & Research Co. 3Q 13F: -2-
11/15/201308:12:57Fidelity Management & Research Co. 3Q 13F: Holdings As Of Sep...
11/15/201307:59:25Soros Fund Management 3Q 13F: Largest Eliminations
11/15/201307:04:51Bridgewater Associates LP 3Q 13F: Largest Eliminations
11/12/201316:42:12MARKET SNAPSHOT: Stocks Close Lower, Snapping 2-day Win Streak
11/12/201316:01:17MARKET SNAPSHOT: Stocks Slip, Pressured By Fed Taper Talk
11/12/201313:58:15MARKET SNAPSHOT: Stocks Pull Back, Pressured By New Taper Talk
11/12/201312:19:36MARKET SNAPSHOT: Stocks Slip, Seen Digesting Recent Big Advance
11/12/201310:09:22MARKET SNAPSHOT: Stocks Slide After Sentiment Data, Taper Talk

Rackspace Hosting and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad