Red Hat (RHT) will likely deliver first-quarter earnings in line with views, led by its core Linux business, but its future growth prospects remain a question mark. The company is set to deliver earnings for its fiscal Q1 ended May 31 after the market close Wednesday. Red Hat is the leading provider of Linux open-source operating system software and related services. Linux has gained traction as companies have switched from older Unix-based
Red Hat (RHT) is boosting its position in the storage software market. The leading provider of Linux open-source software products, used as a staple for adopting cloud computing, on Wednesday said it has agreed to acquire Inktank, a privately held developer of storage software, for $175 million in cash. The company expects to close the acquisition next month. Red Hat stock slipped a fraction in morning trading in the stock market today. Red Hat’s
Red Hat (RHT) stock was down 6% in early trading Friday, at a three-month low, after the open-source software company late Thursday gave weak guidance, but an analyst said “the market is missing the forest for the trees.” Red Hat posted better-than-expected earnings and revenue for its fiscal Q4 ended Feb. 28, as IBD reported. But its guidance for the current quarter lagged the consensus estimate of analysts polled by Thomson Reuters. That was