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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

5/9/13

Rackspace Hosting Inc. (RAX)

Rackspace Hosting is getting crushed today, down 24.68% at $39.35. The cloud computing company saw its shares trade in the red today after releasing their earnings. For the first quarter, Rackspace announced an EPS of $0.19 on revenue of $362.2 million versus analysts' estimates of $0.17 and $366.6 million, respectively. Investors have been weary of slowing growth and the miss on earnings is solidifying investors' worries. CFO Karl Pichler said, "Building a lasting, successful business is our number one priority. However, our immediate focus is on restoring our growth trajectory." Rackspace shares traded to a new 52-week low of $38.31 intraday.

Barnes & Noble Inc. (BKS)

Barnes & Noble shares are exploding today, up 24.37% at $22.10. The bookstore company saw its shares jump after news that Microsoft was interested in buying the company's Nook. The technology website TechCrunch reported that Microsoft, which already owns a 17 percent stake in Nook Media, was proposing a $1 billion offer to buy all of Nook's digital assets. Barnes & Noble had previously said it planned to break away from the Nook and gear the company toward distributing content (last year, B&N spun off their Nook Tablet division into a separate company called Nook Media LLC). The news of the possible buyout help Barnes & Noble shares reach a new 52-week high of $22.79 intraday.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.