Rackspace Tech hits record low as forecast disappoints

BIOSENTA

12/08/2021 17:40

** Cloud technology firm's shares  RXT.O  fall as much as
20% to record low of $13.32
    ** Stock on track for fourth day of losses
    ** Co sees Q3 revenue of $750 mln - $760 mln, below
analysts' expectations of $761.4 mln - Refinitiv data
    ** RXT reports Q2 loss of $0.18/shr vs est for a profit of
$0.22/shr  urn:newsml:reuters.com:*:nGNXFtPsD  urn:newsml:reuters.com:*:nASA02IKA
    ** Q2 bookings fall 10% to $258 mln - RXT
    ** At least 7 brokerages cut PT, with lowest at $17; median
PT $24
    ** Shares down ~26% YTD 

 (Reporting by Richard Rohan Francis)
 ((RichardRohan.Francis@thomsonreuters.com; +918296083399;))