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 Lubuntu 16.10 Beta Out Now with Linux Kernel 4.4 LTS and the Latest LXDE Desktop Rianne Schestowitz 26/08/2016 - 12:43am
Story Facebook open sources its computer vision tools Roy Schestowitz 25/08/2016 - 11:57pm
Story Red Hat Enterprise Linux 7.3 Beta Adds NVDIMM Support, Improves Security Roy Schestowitz 25/08/2016 - 11:39pm
Story Ubuntu 16.10 Beta 1 Released, Available to Download Now Roy Schestowitz 25/08/2016 - 11:33pm
Story Games for GNU/Linux Roy Schestowitz 25/08/2016 - 9:56pm
Story PC-BSD Becomes TrueOS, FreeBSD 11.0 Reaches RC2 Roy Schestowitz 25/08/2016 - 9:55pm
Story Hosting, Servers, VMs and Containers Roy Schestowitz 25/08/2016 - 9:53pm
Story Windows, Mac or Linux... Which operating system best suits your business? Rianne Schestowitz 25/08/2016 - 9:52pm
Story LinuxCon, Linux at 25, and Linux Development Roy Schestowitz 25/08/2016 - 9:50pm
Story 5 Ways to Solve the Open Source Industry's Biggest Problems Roy Schestowitz 25/08/2016 - 9:43pm