Rackspace Share Price Down 25% As Cloud Price Wars Take Their Toll

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http://techcrunch.com – Rackspace will open trading this morning on the New York Stock Exchange with a share price that dropped nearly 25% on Thursday. The stock fell after the company missed its earnings, raising concerns the cloud price wars with giants like Amazon Web Services are taking its toll. The stock dropped about 12 points, ending trading at $39.36 per share. That puts the share price near its 52-week low of $38.30 per share. On Wednesday, Rackspace reported 19 cents earnings per share (EPS). Analysts had expected Rackspace to report 20 cents EPS. The company had revenues of $362 million for the quarter, c (IT news)