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US Pledges $89 Mln To Demine Explosive Remnants Of War In Ukraine

Rackspace Technology Stock Down 20% On Downbeat Outlook

Shares of Rackspace Technology, Inc. (RXT) are slipping nearly 20% on Wednesday morning hurt largely by outlook for the third quarter.

RXT is currently trading at $5.55, down $1.33 or 19.33%, on the Nasdaq. The stock opened its trading at $5.75 after closing Tuesday’s trading at $6.88. The stock has traded between $5.41 and $18.50 in the past 52-week period.

For the third quarter, the company expects adjusted earnings of $0.08 to $0.10 per share and revenues of $769 million to $779 million. Analysts currently estimate revenues of $819.08 million.

Revenue was $772 million in the second quarter, an increase of 4% as compared to revenue of $744 million last year.

Second-quarter net loss was $41 million or $0.19, compared to net loss of $37 million or $0.18 per share last year. Adjusted earnings was $0.17 per share, down from $0.24 per share last year. Analysts polled by Thomson Reuters expected earnings of $0.16 per share for the quarter.

US Pledges $89 Mln To Demine Explosive Remnants Of War In Ukraine

The U.S. State Department has pledged $89 million of FY 2022 funding to help the Government of Ukraine address the urgent humanitarian challenges posed by explosive remnants of arms and ammunitions created by the Russian invasion of Ukraine.

The five months old war has littered massive swaths of the country with landmines, unexploded ordnance, and improvised explosive devices.

The grotesque use of improvised explosive devices in Ukraine by Russian forces was previously only associated with ISIS in Syria. These explosive hazards block access to fertile farmland, delay reconstruction efforts, prevent displaced communities from returning to their homes, and continue to kill and maim innocent Ukrainian civilians.

The Government of Ukraine estimates that 160,000 square kilometers of its land, which is roughly the size of Virginia, Maryland, and Connecticut combined, may be contaminated.

U.S. funding will deploy approximately 100 demining teams and will support a large-scale train and equip project to strengthen the Ukraine Government’s demining and explosive ordnance disposal (EOD) capacity.

Since 1993, the United States has invested more than $4.2 billion for the safe clearance of landmines and explosive weapons of war (ERW) as well as the securing and safe disposal of excess small arms and light weapons (SA/LW) and munitions in more than 100 countries and territories. The United States is the world’s single largest financial supporter of conventional weapons destruction.

LendingClub Climbs 6%

Shares of LendingClub Corp. (LC) are gaining more than 6 percent on Wednesday morning trade, in line with the market trend on the day. The shares have been climbing for the last couple of days.

Currently, shares are at $15.33, up 6.68 percent from the previous close of $14.37 on a volume of 609,183.

CrowdStrike Holdings Jumps 6% After Announcing New Innovations

Shares of cybersecurity technology company CrowdStrike Holdings, Inc. (CRWD) are climbing 6 percent on Wednesday’s trading following news that the company introduced the industry’s first AI-powered Indicators of Attack (IoAs), new innovations for file less attack prevention at scale and enhanced visibility for stealthy cloud intrusions.

The company said that these new detection and response capabilities stop emerging attack techniques and enable organizations to optimize the threat detection and response lifecycle with speed, scale and accuracy.

Currently at $198.62, the stock has traded between $130.00 and $298.68 during the past 52 weeks.

DoorDash Shares Rise 7%

Shares of online food delivery company DoorDash, Inc. (DASH) are up more than 7 percent on Wednesday’s trading. The stock movement is in tandem with the U.S stock markets, which are in the green early Wednesday morning. There has not been any company-specific news to influence the stock on Wednesday.

Recently, the company posted higher revenue in the second quarter, which came in ahead of the Street consensus forecast. DoorDash also lifted its outlook for annual core growth to around $51 billion to $53 billion for 2022, compared with the earlier estimated range of $49 billion to $51 billion.

Currently at $78.42, the stock has traded between $56.67 and $257.25 during the past 52 weeks.

US Pledges $89 Mln To Demine Explosive Remnants Of War In Ukraine

The U.S. State Department has pledged $89 million of FY 2022 funding to help the Government of Ukraine address the urgent humanitarian challenges posed by explosive remnants of arms and ammunitions created by the Russian invasion of Ukraine.

The five months old war has littered massive swaths of the country with landmines, unexploded ordnance, and improvised explosive devices.

The grotesque use of improvised explosive devices in Ukraine by Russian forces was previously only associated with ISIS in Syria. These explosive hazards block access to fertile farmland, delay reconstruction efforts, prevent displaced communities from returning to their homes, and continue to kill and maim innocent Ukrainian civilians.

The Government of Ukraine estimates that 160,000 square kilometers of its land, which is roughly the size of Virginia, Maryland, and Connecticut combined, may be contaminated.

U.S. funding will deploy approximately 100 demining teams and will support a large-scale train and equip project to strengthen the Ukraine Government’s demining and explosive ordnance disposal (EOD) capacity.

Since 1993, the United States has invested more than $4.2 billion for the safe clearance of landmines and explosive weapons of war (ERW) as well as the securing and safe disposal of excess small arms and light weapons (SA/LW) and munitions in more than 100 countries and territories. The United States is the world’s single largest financial supporter of conventional weapons destruction.