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Sony tumbling as loss widens, Rackspace can't find a buyer, FedEx shares delivering

Sony (SNE): Shares are sliding today as the Japanese electronics giant warned it will report a much larger than expected loss for the fiscal year ending in March, and will not pay a dividend this year. CEO Kaz Hirai's plan to turnaround the company's fortunes took a hit as the smartphone business struggled, one of the reasons for the revised guidance. Sony’s announcement comes less than two months after posting a surprise profit in the first quarter as the PS4 led console sales and “The Amazing Spider-Man 2” topped the box office.

Rackspace (RAX): The cloud computing firm tumbling fifteen percent after announcing it has ended efforts to find a possible buyer. Rackspace hired Morgan Stanley back in May to explore strategic options after approaches by multiple groups interested in a partnership or acquisition, including CenturyLink (CTL) according to reports. As competition heats up in the cloud computing space, profit and revenue growth is a deep concern for management as competitors like Amazon and Google continue to slash prices.

FedEx (FDX): The world's largest express shipping company jumping after reporting an earnings beat, and reaffirming guidance. The delivery giant is benefitting from an increase in shipments, cuts in pension expenses, and the benefits of a completed share buyback plan. FedEx is raising its U.S. shipping rates by an average of 4.9 percent in January, and hiring fifty thousand additional workers for the holiday season.

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