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

Today in Techrights

Older: Roundups:

OpenMediaVault 1.0, a Complete Free NAS Solution You Didn't Know You Needed

As you can expect, there are a ton of free NAS (network attached storage) projects and solutions on Linux (and beyond), but there is always room for one more. OpenMediaVault packs quite a few features and users will most likely find all the options that they will ever need. The OpenMediaVault might have a round and neat version number, but the project has been around for a few years now and it's made by Volker Theile, a former member of FreeNAS, which is another very famous NAS solution. Read more

How Matt's Machine Works

And that is how Mullenweg, creator of WordPress, founder of Automattic, and chairman of The WordPress Foundation, runs 22% of the Internet. Read more

Open-source project promises easy-to-use encryption for email, instant messaging and more

Called "Pretty Easy Privacy" (PEP), the project's goal is to integrate the technology with existing communication tools on different desktop and mobile platforms. The development team launched a preview PEP implementation Monday for the Microsoft Outlook email client, but plans to build similar products to encrypt communications in Android, iOS, Firefox OS, Thunderbird, Apple Mail, Jabber, IRC (Internet Relay Chat), WhatsApp, Facebook Messenger, Snapchat and Twitter. Read more