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

Type Title Author Replies Last Postsort icon
Story Leaked Images of the upcoming Samsung Z2 Tizen Smart Phone? Roy Schestowitz 05/05/2015 - 2:10am
Story Google, Red Hat, and VMware announce CoreOS container support Roy Schestowitz 05/05/2015 - 2:05am
Story Ubuntu 15.10 to Be Called Wily Werewolf Roy Schestowitz 05/05/2015 - 2:00am
Story Knoppix Topics: An interview with Linux pioneer Klaus Knopper Roy Schestowitz 05/05/2015 - 1:56am
Story LibreOffice 4.4.3 RC2 Is Out, Stable Version Should Arrive Very Soon Rianne Schestowitz 05/05/2015 - 1:43am
Story New Ubuntu Touch OTA Update Planned for This Week Rianne Schestowitz 05/05/2015 - 1:33am
Story Launchpad Can Now Import Git Repositories Rianne Schestowitz 05/05/2015 - 1:29am
Story How Open-Source Software Will Speed Up Rebuilding Nepal's Historic Sites Rianne Schestowitz 05/05/2015 - 1:26am
Story What's New for You This May in Open Source CMS Rianne Schestowitz 05/05/2015 - 1:21am
Story KDE Applications 15.04 Available for Kubuntu 15.04 Rianne Schestowitz 05/05/2015 - 1:05am