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RXT - Rackspace Technology announces $75M share buyback plan
Rackspace Technology Inc.
Rackspace Technology (RXT +2.6%) has announced a share repurchase program to buyback up to $75M of its common stock. The authorization is effective immediately and will expire on September 30, 2023. Rackspace shares fell ~13% on Feb. 23 after concerns over margins and free cash flow prompted multiple analysts to downgrade the stock. A day ago, RXT had reported its Q4 results that beat estimates