Language Selection

English French German Italian Portuguese Spanish

Red Hat shares fall after analyst downgrade

Filed under
Linux

Shares of Red Hat dragged the S&P 500 index back from the brink of a record high after an analyst downgraded the company amid doubts about its growth prospects.

The Raleigh-based open-source software company (NYSE: RHT) fell 4 percent to $48.54 in early afternoon trading.

Raymond James (NYSE: RJF) analyst Michael Turits cut his rating on the company to “market perform” from “outperform,” comparable to a downgrade to “hold” from “buy.”

rest here




History Hints At Something BIG

istockanalyst.com: One way or the other, iStock would not be surprised to see a major move from RHT following their quarterly profit checkup. Red Hat experienced on if its highest volume days in the past year, coming at number three. We see the activity as distribution, meaning money players were selling the stock, despite a research report claiming the technology company is a good risk/reward play for EPS.

Much like the axiom accumulation comes before appreciation, distribution usually leads depreciation; not always, but more often than not, a lot more often.

Depending on how you look at things, today's April option volume and the month's open interest shows that speculators are betting big on the bullish side of post-eps performance.

rest here




Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

More in Tux Machines

Android, Chromebook Make a Sweet Couple

Running Android apps on a Chromebook gives the Chrome OS added functionality. It has the potential to morph the Chromebook into a portable computing device that offers the best of two Linux worlds. Still, Google engineers have some tinkering to do before Android apps and the Chrome OS are fully implemented and functional. This transition will not be complete until the Google Play Store works out of the box on new Chromebooks without users having to "upgrade" through Developer's Mode. Read more

A Grand Experiment

The latest debacle over the "forced" upgrade to Windows 10 and Apple's increasingly locked-in ecosystem has got me thinking. Do I really need to use a proprietary operating system to get work done? And while I'm at it, do I need to use commercial cloud services to store my data? I've always used Linux since the first time I tried installing Slackware in the mid-90s. In 1998 we were the first national TV show to install Linux live (Red Hat). And I've often advocated Ubuntu to people with older computers. I usually have at least one computer running Linux around, in the past couple of years Dell XPS laptops have been great choices. And a couple of months ago I bought a 17" Oryx laptop from System76, an Ubuntu system integrator, for use in studio. But as time went by, even Ubuntu began to seem too commercial to me, and I've migrated to community supported Debian testing and the Arch-based Antergos distros for everything. (i use Antergos on my Oryx on the shows.) Read more Also: Microsoft lays off remaining handful of Microsoft Press staff

Karbonn confirms Android One smartphone(s) launching in Q1 next year

In an interview with TOI Tech, Karbonn Mobiles has confirmed it will be introducing new Android One-based smartphone(s) early next year. Karbonn's Managing Director Pradeep Jain said the company is in talks with Google for Android One, and we might see some Android One smartphone launch(es) in Q1 of next year. Read more