Hot Stocks: Rackspace Hosting, Inc., J.C. Penney Company, Inc., MSC Industrial Direct Co Inc., Pinnacle West Capital Corporation

Lakeway, NY -- (SBWIRE) -- 02/22/2013 -- ThePennyStockProfiler.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-

Rackspace Hosting, Inc. (NYSE:RAX) slipped 2.67% to $53.85 in the pre-market trading hours. Rackspace Hosting announced that it is lowering the price for cloud bandwidth and content delivery network services by 33%. The company also announced that it is implementing tiered pricing for its open cloud product portfolio, starting with Cloud Files, its object storage service. The new pricing changes will take place over the next several weeks, beginning on February 22nd with tiered pricing for Cloud Files.

Is RAX a Strong Buying Opportunity After The Recent Slump? Find out Here

J.C. Penney Company, Inc. (NYSE:JCP) surged up 1.02% to $21.77 in the pre-market trading hours. J.C. Penney Co. got clearance from lenders to sell billions of dollars in stock and debt if needed as it struggles to complete a turnaround. Under changes to the company’s primary credit line, its banks affirmed that J.C. Penney can sell convertible preferred stock without triggering repayment provisions under the lending agreement.

Get Latest News, Updates on JCP Here

MSC Industrial Direct Co Inc. (NYSE:MSM) closed at $83.09. MSC Industrial Direct Co Inc. said it would purchase the North American distribution business of Barnes Group Inc. for $550 million to gain access to the metalworking and maintenance, repair and operations market in Canada. The acquisition would nearly double MSC's sales force and help the company reach revenue of about $4 billion by 2016.

Is MSM a Strong Buying Opportunity After The Recent Gain? Find out Here

Pinnacle West Capital Corporation (NYSE:PNW) closed at $54.59. The Company released fourth quarter net income of $22.6 million or $0.20 per share compared to $12.6 million, or $0.11 per share in the prior year period. Consolidated on-going earnings were $26.9 million or $0.24 per share from $12.1 million or $0.11 per share, prior year. Operating revenues were $693.12 million from $667.89 million prior year. The analysts expected the company to report fourth quarter profit per share of $0.17.

Is PNW Signaling a Buy After The Solid gain? Don’t Miss Out Free Trend Analysis Here

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