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News 2026-07-09 17:16 UTC

Rackspace Technology Stock Tanks After Cutting 2026 Outlook

Rackspace Technology Inc. (NASDAQ: RXT ) stock plunged more than 29% on Thursday after the cloud services provider slashed its full-year revenue outlook, overshadowing new artificial intelligence initiatives and a partnership with Palantir Technologies Inc. (NASDAQ: PLTR ). Rackspace Cuts Revenue Outlook Rackspace lowe