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Red Hat Inc. (RHT) Fell Sharply After Q3 Report

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12/21/2011 8:01 AM ET

Red Hat Inc. (RHT: Quote) reported third quarter non-GAAP net income of $0.28 per share after the bell Monday, compared to $0.20 per share in the previous year. The consensus estimate was for EPS of $0.26.

Red Hat gapped open sharply lower Tuesday and fell during the first hour of trade. The stock was range-bound for the remainder of the day and closed down by 4.10 at $41.95, with volume at a 9-month high. Red Hat dropped to over a 2-month low and fell below its 200-day moving average.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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Editors Pick
Chipmaker Advanced Micro Devices Inc. said Thursday after the markets closed that its first quarter loss narrowed from last year, helped by strong revenue growth in its graphics and visual solutions business. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue. After trending higher over the past few sessions, stocks showed a lack of direction throughout the trading day on Thursday. The major averages spent the session bouncing back and forth across the unchanged line before ending the day mixed. While the major averages closed on opposite sides of the unchanged line, they all showed only modest moves. U.S. Secretary Of State John Kerry said Thursday that he and his counterparts from Russia, Ukraine and the European Union have reached an agreement on a preliminary plan for ending the ongoing crisis in Ukraine. Kerry was speaking at the end of the Ukraine contact group's first meeting, comprising the foreign ministers of Russia, Ukraine, the EU and the U.S., in the Swiss city of Geneva.
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