Rackspace Hosting (RAX) stock fell Tuesday after it missed Q3 EPS expectations and forecast higher capital spending. The provider of website hosting and cloud-computing services late Monday reported Q3 profit of 11 cents per share, down 42% from the year-earlier quarter, and below the 16 cents expected by analysts polled by Thomson Reuters. Rackspace stock was down 12% in midday trading on the market Tuesday, at a three-month low near 43.50.
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Rackspace EPS Miss, Capital Spending Hike Hits Stock