Rackspace Partners With GT Software and 4 Chip and Big Data Stocks on the Move

Rackspace Hosting, Inc. (NYSE:RAX): GT Software, which is a top provider of enterprise modernization solutions, has joined the partner program for Rackspace® Hosting. This relationship provides a cloud infrastructure and services program enabling organizations to take legacy mainframe applications, data, and processing to the Rackspace cloud environment.

Seagate Technology PLC (NASDAQ:STX) launched its PC/Mac Backup Plus offering with the ability to safeguard not only folders but your Facebook or Twitter content. However, the Mac side of that equation was missing a USB 3.0 port to hustle transfers along at a much less pedestrian 5 Gbps, which is probably because until recently, no Macs supported it. Now, Seagate launched a USB 3.0 version of the device for those shiny new Macbook Pro Retina and Air models that pack it, as it also offers the option to upgrade to Thunderbolt or FireWire 800 “as the need presents itself.” Prices range from $110, the 500GB model, to $180, the 3TB version.

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SanDisk Corp. (NASDAQ:SNDK) was downgraded Sector perform, or Hold, from Outperform on Monday by RBC Capital Markets, though the investment house maintained its price target of 50 on the company. In an investor report, RBC analyst Doug Freeman said that SanDisk delivered “solid results and guidance” in its Q3 results last week but there are “elevated risks” in the coming six to eight weeks limiting the upside to the company’s shares.

Western Digital Corp. (NYSE:WDC) should report Q1 earnings after the market close on Monday, October 22, in a conference call scheduled for 5:00 pm ET. The consensus estimate is $2.30 for EPS and $3.98B for revenue, First Call reports. As a result of continuing muted PC demand, the company felt inclined to cut its sales and total available market, or TAM, forecast for Q1 at its investor meeting in September.The company now believes that revenues will be in the range of $3.9 billion to $4.0 billion, much lower than the previous revenue estimate of $4.2 billion to $4.3 billion. Additionally, the company forecasts that quarterly shipments will fall to 140 million units, from its previous guidance of 157 million. The gross margin for Q1 was reiterated at 30 percent on a non-GAAP basis. The reduced guidance was a result of muted demand and inventory rebalancing.

VMware, Inc. (NYSE:VMW): Microsoft has begun to prepare its version of Office for iPads and iPhones, and Apple and VMware have teamed together to develop an iPad cloud-hosted office suite allowing organizations to get rid of Office entirely, according to CRN. Sources with knowledge about the project claim that the iPad app combines VMware View virtual-desktop software with cloud-hosted versions of Pages, Keynote, and Numbers, known as the iWork suite, running on Apple infrastructure. VMware’s Horizon Application Manager, which is a management tool compared to an enterprise app store, is also included, sources informed CRN.

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