Rackspace, CommVault: Premarket Movers

NEW YORK (TheStreet) -- Rackspace(RAX) was one of tech's big losers in premarket trading Tuesday after the managed hosting specialist reported on Monday mixed first-quarter results.

Shares of the San Antonio-based company plunged 14.01% to $49.70 before market open as investors responded to Rackspace's numbers. While the AT&T(T) and Savvis rival beat Wall Street's revenue estimate, investors balked at the company's bottom line.

Rackspace, which does not break out non-GAAP EPS, said it earned 17 cents a share on net income of $23.2 million, up from 11 cents a share and $13.8 million in the prior year's quarter. Analysts surveyed by Thomson Reuters were looking for earnings of 18 cents a share.

Storage specialist CommVault(CVLT), however, was one of tech's winners, after reporting record fourth-quarter results before market open.

CommVault brought in revenue of $114 million, a 27% increase on the prior year's quarter, and well above Wall Street's forecast of $106 million. Excluding items, CommVault earned 29 cents a share, up from 25 cents a share in the same period last year.

"Our fourth quarter results concluded a strong fiscal 2012 where we achieved substantial improvements in all aspect of our business," explained Bob Hammer, the CommVault CEO, in a statement. "Our solid finish to fiscal 2012 reinforces the underlying strength of our business and we believe that we are entering fiscal 2013 with excellent momentum."

CommVault shares climbed 6.47% to $54 before market open as investors responded to the fourth-quarter numbers.

Vodafone(VOD) was one of the most active Nasdaq stocks in premarket trading on Tuesday, rising 0.75% to $28.20 on share volume of 71,741. Reuters reported on Tuesday that the Indian government has not directed the country's tax authorities to reopen a tax case against the telecom giant.

Apple(AAPL) was another active Nasdaq stock in premarket trading, gaining 0.27% to reach $571 on share volume of 41,910.

James Rogers

05/08/12 - 08:33 AM EDT

--Written by James Rogers in New York.