Diamonds and Dogs
11/12/13Rackspace Hosting Inc. (RAX)
Rackspace is trading in the red today, down 12.37% at $43.21. The cloud computing service company saw its shares fall after reporting mixed third quarter results. Revenues rose 16% to $388.6 million, which translated into a 40% drop in net income and an EPS of $0.11. Analysts were expecting the company to have revenue of $387.47 million, but also expected a higher EPS of $0.16. The lower net income is a direct result of management's capital expenditures, which CFO Karl Pichler stated were to make investments in equipment. Rackspace shares are still around $10 above their 52-week low of $33.91.
Vanda Pharmaceuticals Inc. (VNDA)
Vanda Pharmaceuticals is skyrocketing today,
up 95.79% $13.29. The biopharmaceutical company; which specializes on central nervous system disorders, popped after documents were posted on the FDA website that shined a light on Vanda's drug tasimelteon. The document stated that tasimelteon helps blind people sleep. Most people have no trouble staying on a normal sleep pattern as our bodies adjust to the sun and use that as our gauge of when to sleep. Blind people don't have this luxury, and thus have a difficult time maintaining normal sleep patterns, which tasimelteon hopes to cure. Vanda shares hit the daily double today when they reached a new 52-week high of $13.47 intraday.