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.

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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.

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