Dell (DELL) CEO Michael Dell said today the company is poised to make an acquisition in the cloud computing sector.
Market speculation was that Rackspace Hosting (NYSE:RAX) would be the target, and shares of the stock were trading higher by as much as 10% on the news. Rackspace is 2% of the NASDAQ Internet Portfolio (NASDAQ:PNQI), which is trading up 1.35% today. However, after the anticipation, Dell announced that the are buying Boomi, which is a private company.
Dell, which is trading up 0.35%, and Rackspace share membership in several tech ETFs, such as the iShares Dow Jones U.S. Technology Sector Index Fund (AMEX:IYW), in which they are a combined 1.36% of the total fund.
This Article's Word Cloud:AverageBoomiDELLDefinitionDefinitionsDellETFsExchangeFundHostingHoweverImportanceIndexIndustrialInternetJonesMarketMichaelNasdaqPortfolioRackspaceRelevantSectorStockTradedWhatacquisitionannouncedanticipationcloudcombinedcompanycomputingfundhighermakemembershipmuchpoisedseveralsharesharesspeculationstockthattodaytradingwerewhichwould
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.