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Dan Loeb Buys Stake In Rackspace, Ally Financial

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Courtesy of Benzinga.

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Activist investor Dan Loeb recently acquired new stakes in Rackspace Hosting (NASDAQ: RAX) and Ally Financial (NYSE: ALLY), according to his latest filing with regulators.

Loeb, whose personal worth was estimated in April at $2.3 billion by Forbes, is known for recent campaigns to shake up Sotheby's, Dow Chemical and CF Industries.

Loeb's Third Point LLC filing shows a new stake in the cloud services concern Rackspace with 7.25 million shares. Rackspace gained three percent Thursday.

Also new to Loeb's portfolio is a 45.6 million-share stake in auto lender Ally Financial. Ally was recently up two percent.

Internet and media company IAC/InterActive (NASDAQ: IACI) gained two percent. Loeb's filing revealed he owns two million shares, up from zero in March.

Loeb also boosted his stake in Dow Chemical. Its shares fell 0.5 percent Thursday.

Posted-In: News Rumors Hot Intraday Update

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