Rackspace Hosting (RAX) has clinched a customer support deal with Amazon Web Services, the leader in cloud computing services. The deal had been expected as Rackspace’s business model evolves toward support of third-party cloud platforms, including Microsoft’s (MSFT) Azure service. San Antonio-based Rackspace’s stock edged down in mid-day trading on the stock market today. AWS, e-commerce leader Amazon.com’s (AMZN) cloud computing unit, is by far
While Facebook (FB), Amazon (AMZN), Netflix (NFLX) and Alphabet (GOOGL) can no longer be called FANG after the Google name change, the four stocks are showing their teeth today as the market makes gains in strong trade. And Netflix stands out among these tech leaders on the rise with the retaking of a key level. Netflix shares jumped 5.6% to climb back above the crucial 50-day moving average. Shares are now trading 14% below a potential buy point.
There’s a good chance Amazon.com’s (AMZN) cloud computing service business will announce price cuts at a user conference next week, says Oppenheimer in a research report. Amazon will host its “AWS re:Invent” conference in Las Vegas Tuesday through Oct. 9. Fast-growing Amazon Web Services for years has been an aggressive price cutter — putting pressure on rivals Microsoft (MSFT), Google (GOOGL), IBM (IBM) and Rackspace Hosting (RAX), but it hasn’t