Red Hat Threat is No-Show
The Raleigh software company's stock surged after a rumored competitive threat failed to materialize.
LinuxWorld, an industry conference and expo in San Francisco, buzzed all week with the possibility that Oracle would announce its own Linux-based operating system at the summit.
The announcement, predicted on at least two blogs, would have set up a showdown between Red Hat, a leader in open-source software, and Oracle, which sells databases and other business software.
But the conference wound down Thursday without any Oracle news, and investors boosted Red Hat's stock 11.5 percent to $25.71, up $2.66. The stock has fallen 20 percent since closing at the highest level in nearly six years in April.
"There's a relief rally," said Steven Ashley, an analyst for Robert W. Baird & Co.
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