Rackspace (RAX) Revenue, Stock Surges on Cloud

 

Cloud computing company Rackspace Hosting’s (RAX) revenues and profits are way up as is the company’s stock price, Investor’s Business Daily reported.

Rackspace has made its mark in cloud computing by using an open-source platform know as OpenStack to power its cloud portfolio.

The company launched OpenStack in 2010 and has since built a burgeoning support business around the software, which now has the backing of more than 180 companies.

Rackspace shares have climbed 37% this year and are up 70% from a year ago.

RAX is a Cabot Market Letter stock.

AAPL is a Cabot Top Ten Trader stock.

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Stock Picks

Tesla Motors

If you’re not on board the stock, there’s no rush. Wait for a better entry point in a more constructive market.

Church

Church & Dwight owns the Arm & Hammer, OxiClean and Trojan brands, as well as some smaller, faster-growing brands. But even after a 35% climb in 18 months, Church & Dwight still looks strong and poised for further gains.

Restoration Hardware

Restoration Hardware (RH) has been on my watch list for a long time. Believe it or not, I’ve been watching the stock for about a year—it was my Top Pick at the 2014 Cabot Investors Conference, nearly one year ago—and now, after a ton of starts and stops, shares look poised to get going.

Cabot Wealth Advisory

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