Analyst comments sink Red Hat shares
Shares of Red Hat Inc., the largest distributor of the Linux operating system, tumbled more than 7 percent Friday after a Wall Street analyst suggested that Oracle Corp. may soon introduce its own Linux products.
Red Hat's stock finished the day at $19.90, a decline of 7.4 percent, after briefly falling below its 52-week low to $19.71 on the Nasdaq.
The Raleigh-based company has had a volatile year because of rumors that Oracle could jump into the open source Linux market.
Shares of Red Hat plummeted 23 percent two weeks ago after the company announced weak second quarter earnings that included a 34 percent drop in profit.
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