Rackspace (RAX) Moves Up on Renewed Takeover Chatter

May 2, 2013 11:53 AM EDT
Rackspace Hosting (NYSE: RAX) is sharply higher Thursday on renewed speculation IBM (NYSE: IBM) is kicking the tires.

In the recent past it was reported that IBM was looking at a takeover of SoftLayer Technologies in addition to Rackspace.

In March, analysts at Tigress Finanial Partners said in addition to IBM, Rackspace remains a potential acquisition candidate for AT&T (NYSE: T) and Hewlett-Packard Co. (NYSE: HPQ) or others "looking to gain cloud-computing market share."

Shares of RAX are up 3.9 percent.

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