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After-market Movers For Dec. 19 (RHT, S, CHTR)

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12/19/2011 6:34 PM ET

Red Hat Inc. (RHT: Quote) shares tumbled more than 10% in after hours trading after the world's largest seller of Linux software reported third quarter revenue that beat analysts' estimate by a small margin.

Shares of Sprint Nextel Corp. (S: Quote), the third largest U.S. wireless carrier, gained more than 6% in extended hours trading. AT&T Inc. (T: Quote), the second largest U.S. Wireless carrier, said it has abandoned its $39 billion takeover bid for T-Mobile USA amid stiff opposition from U.S. regulators. AT&T shares fell 0.4% in after hours trading.

Charter Communications, Inc. (CHTR: Quote) shares rose more than 3% in after hours after the fourth largest U.S. cable operator said that its Board of Directors has concluded its previously announced CEO search process and appointed cable industry veteran Thomas Rutledge as President and Chief Executive Officer. Rutledge joins Charter immediately and will become the President and Chief Executive Officer effective February 13.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Starbucks Corp. said Thursday after the markets closed that its second quarter profit rose 9.4% from last year, helped by higher revenue. The company's quarterly earnings per share came in line with analysts' expectations, but its quarterly revenue fell short of analysts' forecast. The world's largest specialty coffee retailer also raised its full year earnings outlook. Software giant Microsoft Corp. said Thursday after the markets closed that its third quarter profit fell 6.6% from last year, when results were boosted by special upgrade offer revenues. However, the company's quarterly earnings per share came in above analysts' expectations as did its quarterly revenue. Apple Inc. said Wednesday after the markets closed that its second quarter profit rose 7% from last year, as sales surged and margins improved amid strong sales of its iPhones. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly revenue. At the same time, the company gave a slightly downbeat revenue forecast for the current quarter.
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