Rackspace Technology, Inc. Stock Price, News & Analysis

Rackspace Technology (NASDAQ: RXT) announced a partnership with UC Irvine, Scientific Systems Company, and Plan4Co to enhance COVID-19 forecasting models using Amazon Forecast. This collaboration aims to improve predictions related to hospital needs and disease trends. The project features two innovations: COVID DSAFE for weekly operational forecasts at various levels and COVID PrivyTRAC for secure contact tracing. The initiative leverages advanced machine learning and data processing capabilities on AWS, demonstrating significant accuracy improvements over traditional forecasting methods.

Rackspace Technology (NASDAQ:RXT) has enhanced its partnership with Eagle Eye by migrating its digital marketing platform, Eagle Eye AIR, to Google Cloud. This transition led to a 30% improvement in point of sales transaction speeds. The updated platform allows real-time management of promotions for retailers, critical during the COVID-19 pandemic. Eagle Eye also reported a 40% decrease in support calls after adopting a cloud-native IT model. The collaboration supports Eagle Eye's global growth ambitions, including new clients in the US and New Zealand, as they aim for a fully cloud-native operation.

Rackspace Technology (NASDAQ: RXT) announced significant developments from its ongoing partnership with Pure Storage (NYSE: PSTG). This partnership positions Rackspace as the largest global Managed Service Provider member of the Pure Partner Program. Through the collaboration, Rackspace will enhance its multicloud offerings, enabling customers to optimize IT investments and seamlessly migrate critical workloads to its infrastructure. The Pure Evergreen Storage model further supports customers in modernizing applications and managing data across hybrid-cloud environments with low latency and high performance.

Rackspace Technology (NASDAQ: RXT) has integrated the Moogsoft AIOps Platform into its Rackspace Fabric, enhancing its multicloud platform with AI and machine learning capabilities. This integration aims to improve incident response times, reduce downtime, and optimize IT operations across cloud environments including AWS, Google Cloud, and Azure. With Rackspace Fabric processing over a billion automated actions monthly, customers will benefit from a streamlined experience in managing complex cloud setups and focus more on innovation rather than troubleshooting.

Rackspace Technology has successfully migrated the Central and North West London NHS Foundation Trust's IT services to a private cloud, facilitating tenfold remote staff access during COVID-19. This transition enhances service delivery for over a third of London's population, allowing 2,000 concurrent users to utilize cloud technology. The project, completed under a tight deadline, offers cost transparency and optimization for CNWL. Looking ahead, Rackspace aims to transition CNWL further to multicloud services, potentially lowering costs and improving service accessibility.

Onica, a Rackspace Technology company (NASDAQ: RXT), has launched its new Contact Center Intelligence (CCI) solution, leveraging AWS technology to enhance customer experience in contact centers. The serverless analytics platform utilizes Amazon Comprehend and Amazon Transcribe to automate call transcription, sentiment analysis, and customer churn prediction, among other features. This innovation aims to streamline operations, allowing agents to focus on customer care while improving response efficiency. With contact center interactions soaring, Onica's solution addresses the growing demand for effective customer service.

Rackspace Technology (NASDAQ: RXT) announced a partnership with Babbly to enhance AWS infrastructure for tracking early speech development in children. This collaboration allows Babbly to focus on improving its AI-driven platform, combining machine learning with pediatric expertise. Carla Margalef Bentabol, CTO of Babbly, praised Rackspace for meeting high project standards and timelines. Babbly chose Onica, part of Rackspace, for its AWS expertise. The partnership prioritizes HIPAA compliance and aims to create a strong foundation for future development.

Rackspace Technology Global, Inc. (NASDAQ: RXT) is set to announce its second quarter 2020 financial results on August 31, 2020, after market close. CEO Kevin Jones and CFO Dustin Semach will lead a conference call at 5:00 pm ET to discuss these results. Investors can participate by calling 1-877-407-4018 domestically or 1-201-689-8471 internationally. A live webcast will also be available on the company’s website. An audio replay will be accessible shortly after the call until September 14, 2020.