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

Blackmagic on GNU/Linux

  • Blackmagic Design Announces Fusion 8.2 is now available on Linux free of charge
    Blackmagic Design today announced that Fusion visual effects software is now available on the Linux platform. Linux is extremely popular in the world's leading visual effects production companies and this new Linux release is a major announcement for the visual effects industry. This new Linux version of Fusion and Fusion Studio means visual effects artists can select their preferred computing platform, as Fusion is now available on Mac OS X, Windows, and Linux. All project files are common, so customers can work collaboratively, even when different artists are running different platforms on the same job.
  • Blackmagic Puts Fusion 8.2 on Linux, Updates Duplicator
    Blackmagic Design released a pair of announcements, the first revealing that Fusion visual effects software is now available on the Linux platform, and second that it has release version 1.0.2 of Duplicator.
  • Blackmagic Design Announces Blackmagic Duplicator 1.0.2 Update

Remix OS and Chuwi

Ubuntu Touch OTA-12 Launches Today with Biometric Authentication for Meizu PRO 5

Today, July 27, 2016, Canonical will unveil the 12th Over-the-Air (OTA) software update for its Ubuntu mobile operating system that runs on supported Ubuntu Phone and Ubuntu Tablet devices. Read more

CORD open-source project