Rackspace Hosting, Inc. (RAX) Bonds Trading 1% Lower
An issue of Rackspace Hosting, Inc. (NYSE:RAX) debt fell 1% against its face value during trading on Tuesday. The high-yield issue of debt has a 8.625% coupon and is set to mature on November 15, 2024. The debt is now trading at $106.50 and was trading at $106.75 last week. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its share price.
Shares of Rackspace Hosting, Inc. (NYSE RAX) remained flat at $31.99 during trading on Tuesday. The stock’s 50 day moving average is $31.99 and its 200 day moving average is $31.90. Rackspace Hosting, Inc. has a 12 month low of $19.65 and a 12 month high of $31.99.
ILLEGAL ACTIVITY NOTICE: This news story was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another site, it was illegally copied and republished in violation of United States and international copyright legislation. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2017/08/29/rackspace-hosting-inc-rax-bonds-trading-1-lower.html.
About Rackspace Hosting
Rackspace Hosting, Inc (Rackspace) operates in the managed cloud segment of the business information technology (IT) market. The Company offers a portfolio of integrated IT solutions for common business needs. The Company offers services for certain applications, including e-commerce and Web content management sites, business-productivity applications, such as e-mail and collaboration, and data stores.
Receive News & Stock Ratings for Rackspace Hosting Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rackspace Hosting Inc. and related stocks with our FREE daily email newsletter.