Wednesday, October 6, 2010

Data Center Stocks Lose $2 Billion of Market Value After Opening Bell

Following the news from Equinix, data center stocks lost $2 billion of market cap at this morning's open, with just over half of that coming from Equinix (EQIX).    The 13 names in our Services Index fell to an aggregate market cap of $27.8 billion, down from $29.8 billion at the start of trading.   The index itself was at 93.10, down nearly 7% from yesterday's close of 99.70.   

Equinix's 26% decline was dragging down Rackspace (RAX), Savvis (SVVS), DuPont Fabros (DFT), Digital Realty (DLR), and Terremark (TMRK), with each of those stocks down anywhere from 4 to 6%. 

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