By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tech stocks ended up putting in a
mixed trading session Tuesday, with Rackspace Hosting Inc. posting
big gains in the wake of the company's upbeat quarterly
results.
Rackspace (RAX), which provides Web-hosting services data
centers and businesses using cloud-computing technologies, ended
the day with a gain of 8.5% to close at $29.88 a share. On Monday,
Rackspace reported a profit of $25.4 million, or 18 cents a share,
on $421 million in sales, compared with earnings of $27.3 million,
or 19 cents a share, on revenue of $362.2 million a year ago.
Analysts surveyed by FactSet had forecast Rackspace to earn 12
cents a share on $419.3 million in sales.
DirecTV (DTV) shares fell 1.2%, to close at $86.08 following
reports that AT&T Inc. (T) could finalize a deal to acquire the
satellite TV company within two weeks.
EBay Inc. (EBAY) rose 25 cents a share to close at $51.58 as the
e-commerce giant reiterated its full-year outlook at the company's
annual shareholders meeting.
Apple Inc. (AAPL) rose 93 cents a share to close at $593.76 as
investors awaited a possible announcement that the company will
acquire Beats Electronics for $3.2 billion in a deal that could
bring longtime music executive Jimmy Iovine into Apple's executive
ranks.
The tech-heavy Nasdaq Composite Index (RIXF) fell 13 points to
end the day at 4,130 while the Philadelphia Semiconductor Index
(SOX) also recorded a small loss.
More tech news from MarketWatch:
Google told it must remove links by EU court
AT&T could strike deal for DirecTV soon
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