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Red Hat Inc. (RHT) Is Falling On Weak Guidance

Red Hat Inc. (RHT) reported first quarter EPS of $0.50 after the bell Wednesday, compared to $0.44 in the previous year. Analysts expected EPS of $0.50. The company expects second quarter EPS of $0.54 and full year EPS of $2.19 to $2.23. The consensus estimates are for EPS of $0.55 and $2.24.

Red Hat also announced that it has agreed to acquire 3scale. The stock is now down 4.86 on 314K shares.

Red Hat traded in a range for the bulk of Wednesday's session and closed down by 0.64 at $79.75 on above average volume.

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