Stocks Hitting 52-Week Lows

Rackspace Hosting, Inc. RAX shares reached a new 52-week low of $16.11. Rackspace Hosting reported better-than-expected earnings for its fourth quarter, but the company issued a weak sales forecast. Devon Energy Corp DVN shares dropped 13.08 percent to touch a new 52-week low of $18.48. Devon Energy reported Q4 earnings of $0.77 per share. The company announced plans to cut its workforce by 20 percent and reduce its 2016 E&P capital investment by 75 percent. Zix Corporation ZIXI shares fell 21.73 percent to touch a new 52-week low of $3.35. Zix posted Q4 adjusted earnings of $0.07 per share on revenue of $14.3 million. Cerner Corporation CERN shares touched a new 52-week low of $50.57 after the company reported Q4 results.