Today: 5 June 2026
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NASDAQ:RXT 23 February 2026 - 14 May 2026

Rackspace Stock Jumps 26% As AMD AI Deal Tests RXT Turnaround Story

Rackspace Stock Jumps 26% As AMD AI Deal Tests RXT Turnaround Story

Rackspace shares surged 26.34% to close at $7.29 on Thursday, hitting a 52-week high of $7.65 before slipping to $7.15 after hours. The rally followed first-quarter profit and a memorandum with AMD to build AI infrastructure, though the company still reported a non-GAAP loss and uneven segment growth. Trading volume topped 39 million shares. Analyst Keith Bachman maintained a Hold rating with a $5 target.
14 May 2026
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Stock Market Today

  • Cramer Urges Buying Opportunity in Cooling AI and Chip Stocks Amid Market Pullback
    June 5, 2026, 2:09 PM EDT. Stocks dipped Friday as the Nasdaq fell 1.7% and the S&P 500 nearly 1%, ending a nine-week winning streak. The May jobs report beat expectations with 172,000 new payrolls and steady 4.3% unemployment. Treasury yields rose on possible year-end rate hikes, pressuring equities. CNBC's Jim Cramer called the cooling market a chance to buy discounted chip stocks like Intel, Arm Holdings, and Corning, citing no negative outlook for data centers. Defensive sectors, especially health care names Johnson & Johnson and Eli Lilly, gained. CrowdStrike shares slid after CEO tempered AI-driven growth expectations tied to Anthropic's Project Glasswing. Apple's upcoming WWDC and Honeywell's aerospace IPO also drew investor focus. Cramer noted IPOs from SpaceX, Anthropic, and OpenAI may lead to portfolio rebalancing.

Latest articles

QQQ Drops After Surprise Jobs Data, Market Eyes Rates and AI

QQQ Drops After Surprise Jobs Data, Market Eyes Rates and AI

5 June 2026
Invesco QQQ Trust plunged 3.29% to $716.26 after a strong U.S. jobs report boosted rate-hike odds to 70%, hitting tech and AI stocks that dominate the ETF; the drop pushed QQQ below key technical support, with investors now weighing near-term rate risk over long-term growth, as higher yields threaten future earnings valuations.
Tesla Stock Slips After $475 Wall Street Reset

Tesla Stock Slips After $475 Wall Street Reset

5 June 2026
Tesla shares slid about 5% to $397.42 Friday despite J.P. Morgan lifting its rating and tripling its price target to $475, as investors weighed Tesla’s robotaxi ambitions against safety and regulatory risks amid a broader tech selloff triggered by strong jobs data and rising bond yields.
Inotiv Shares Jump After Bankruptcy, But Filing Warns On Loss

Inotiv Shares Jump After Bankruptcy, But Filing Warns On Loss

5 June 2026
Inotiv shares more than doubled to $0.2113 on massive volume after the company filed for Chapter 11, warning its restructuring plan will cancel all existing common shares with no payout to current holders and take the company private if approved, leaving current investors at risk of losing their entire investment.
IREN Stock Down Despite 800MW AI Data Center Deal

IREN Stock Down Despite 800MW AI Data Center Deal

5 June 2026
IREN shares plunged 13.9% to $53.29 after announcing an 800MW South Australia data-center campus and closing a $3.65 billion GPU financing facility, as investors sold AI and crypto-linked stocks amid a sharp Nasdaq selloff and falling bitcoin prices; B. Riley raised its price target to $96 but cut near-term EBITDA estimates.
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