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

openSUSE Leap's backward version jump

Hi all, On behalf of the openSUSE Board and Leap Release Management I am pleased to announce the next version of openSUSE Leap after 42.3 will be: openSUSE Leap 15 As with Leap 42.x, minor releases are expected annually for at least 3 years, so you can expect a Leap 15.1 to follow, then 15.2 and onwards. Obviously this is quite a dramatic change from the current version number of 42.x, so I will explain what justifies this change in some detail below. Read more

Switch to open source model turns costs into R&D

Public administrations that switch to an open source software model and contracting for services, also transform the costs previously spent on acquisition and maintenance into budget for research, development and innovation, says Álvaro Anguix, general manager of the gvSIG association. Read more

German states adopt open source-based security checks system

The German federal state of Thuringia will join North RhineWestphalia, Baden-Württemberg, Hamburg and Hesse and start using OSiP, a system for performing security checks for staff access to sensitive areas. The system, built on open source components, is set to become the default security system for all 16 federal states. Read more

Open source group focuses on industrial IoT gateway middleware

The Linux Foundation has launched an open source, cross-platform “EdgeX Foundry” project based on Dell’s FUSE for standardizing middleware on IoT gateways. The new EdgeX Foundry organization will develop modular, cross-platform middleware for industrial IoT edge gateways. Based on a Dell FUSE project, the open source group aims to simplify and standardize industrial IoT edge computing “while still allowing the ecosystem to add significant value,” says the Linux Foundation. Read more