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

Korora 25 Unleashed, Best KDE Distro, Notorious B.U.G.

Fedora-based Korora 25 was released Wednesday in 64-bit versions. Users are urged to upgrade. Elsewhere, Jack Wallen was seriously impressed by Fedora 25 and blogger DarkDuck said ROSA R8 is "near-perfect." Bruce Byfield discussed obstacles to Linux security just as a new kernel vulnerability comes to light. Dedoimedo declared the best KDE distro of 2016 and FOSSBYTES has 10 reasons to use Ubuntu. Read more

OnePlus 3T review: One of the best Android phones gets a little better

OnePlus has never been one to play by the rules. Back when it made its entrance into the crowded smartphone market with the One, it set itself apart by selling a premium handset at a mid-tier price and offering invitation-only purchases instead of the standard preorders. The 3T very much fits with this rebellious nature. Essentially a refreshed version of the 6-month-old OnePlus 3, the new phone undermines another smartphone constant: the yearly update. iPhone users are familiar with the concept of the mid-cycle model—a handset that keeps the same enclosure but beefs up features and internal components. But there’s always been a special hook with Apple’s S phones, a reason for current owners to rush out and buy the new model. The 3T could be seen as OnePlus’ attempt to mimic the success Apple has had with the formula (and in fact, the company says it picked T for the new phone’s surname simply because it’s a letter higher than S). Read more

Linux Foundation adds an open source networking specialist to the team

In recognition of the increasingly central role open source technology has played for the networking sector, the Linux Foundation today named Arpit Joshipura as its general manager for networking and orchestration. Joshipura, a veteran tech executive who has worked at Dell, Ericsson, and Nortel, among others, is considered by the organization to be a foundational contributor to open source software in general and networking in particular. Currently, he’s the chief marketing officer for Prevoty, an application security startup in Los Angeles. Read more

Apache Zeppelin open-source analytics startup reveals new name, fresh funding

The team behind the Apache Zeppelin open-source notebook for big data analytics visualization has renamed itself ZEPL and announced $4.1M in Series A funding. ZEPL, which swears a certain professional football organization had nothing to do with it ditching its former name (NFLabs), is one of numerous companies smelling blood in the water around Tableau, the $3.5 billion business intelligence and analytics software vendor that has stumbled financially in recent quarters and seen its stock price plummet accordingly. The pitch from ZEPL entering my email inbox read: "Is Open Source project eating Tableau's lunch?" Read more