Rackspace Technology, Inc. Files Registration Statement for Proposed Initial Public Offering

Mabel R. Acton

SAN ANTONIO–(BUSINESS WIRE)–Rackspace Technology, Inc. (“Rackspace Technology”) today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. Rackspace Technology has applied for listing its common stock on the Nasdaq Global Select Market under the ticker symbol “RXT”. The number of shares to be offered and the price range for the proposed offering have not yet been determined.

Goldman Sachs & Co. LLC, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are serving as joint lead book-running managers and as representatives

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Were Hedge Funds Right About Spotify Technology S.A. (SPOT)?

Mabel R. Acton

The latest 13F reporting period has come and gone, and Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F filings show the funds’ and investors’ portfolio positions as of March 31st, a week after the market trough. Now, we are almost done with the second quarter. Investors decided to bet on the economic recovery and a stock market rebound. S&P 500 Index returned almost 20% this quarter. In this article you are going to find out whether hedge funds thoughtSpotify Technology S.A. (NYSE:SPOT

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Global stocks mixed while safe haven gold climbs

Mabel R. Acton

Global stocks had a mixed session Wednesday, with Wall Street resuming a rally and European bourses retreating, as concerns about fresh spikes in coronavirus infections lifted haven investment gold above $1,800 an ounce for the first time since 2011.

The eurozone’s key indices were down by a percent or more at the close, with London doing a little better.

But the picture was different in New York, where the Nasdaq surged 1.4 percent to end at 10,492.50, its fourth record in five sessions. The Dow and S&P 500 also climbed.

“It’s been a tug of war between investors that believe

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Carpenter Technology Q4 Outlook Bleak on Coronavirus Crisis

Mabel R. Acton

Carpenter Technology Corporation CRS has provided the preliminary outlook for fourth-quarter fiscal 2020 (ended as of Jun 30, 2020) and fiscal 2021.

Segments to Put up Dismal Performance in Q4

Carpenter Technology expects volumes in the Specialty Alloys Operations (SAO) segment to be down 20-30% sequentially in the fiscal fourth quarter on the coronavirus crisis-induced economic disruptions across most of its end-use markets, along with the near-term challenges across the aerospace supply chain. The company now expects the segment’s operating income between $4 million and $8 million for the quarter.

Lower volumes due to the pandemic’s unfavorable impact on customer

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