🟢 Rackspace Technology is trading 5.4% up today after favorable response to August 11 earnings update

Rackspace Technology is trading 5.4% up at $4.58 after investors responded favorably to its August 11 earnings update.

• Q2 revenue reached $670 million, below estimates, while adjusted EPS beat expectations.
• Private Cloud revenue grew 5.5%, supporting management’s enterprise-AI strategy.
• Shares are rebounding after falling 8.03% on August 11; broader technology strength also supports sentiment.