Shares of Rackspace Hosting (NYSE:RAX) are lower following a downgrade by Piper Jaffray (PJC). The brokerage downgraded shares from buy to neutral citing valuation, as the stock has climbed over 30 percent since early November, and surpassed the firm's $29 price target.
The stock is lower by over ten percent.
MannKind (NASDAQ:MNKD) shares are lower after the company announced that the FDA did not approve its inhaled insulin treatment, Afrezza.
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