Cart (0)
VIDEOTicker Shock: Red Hat CEO Says Worst May Be Over
Thursday's top stories and stocks with potential to move.
 |
|
This day isn’t starting off well for me. I’ve got 2 kids home sick today - with pinkeye, of all things. Now I’m just waiting to come down with it. My house is basically a petri dish at this point and my kids are the host monkeys.
Asian markets rose overnight. The Hang Seng was up more than 3%, and the Nikkei was up almost 2%. Meanwhile, European stocks were in positive territory earlier this morning as well. And here in the US, we're currently trading higher.
Here's what I’m focused on this morning:
Red Hat (RHT): 
The North Carolina-based Linux software company was out with its fourth-quarter numbers.
It earned $0.22 a share excluding items, which was $0.02 better than expectations. However, its top line of $166.2 million was a bit light - the Street had been looking for $167 million.
But what really stood out to me was a Reuters article that quoted its chief executive Jim Whitehurst as saying: “I don't think people are quite as scared as they were a couple months ago... A couple months ago, people were really worried we were falling off a cliff. It has stabilized since then.”
That bit about stabilization was good to hear. Reuters also reported that the company is looking for an adjusted first-quarter profit of $0.13 to $0.14, which is in the ballpark of the $0.14-a-share estimate I’m seeing.
I think this will be viewed as a positive by investors. I’d also note the shares were up in after-hours trading.
Raytheon (RTN): The Massachusetts company and maker of high-tech and super-important military stuff (such as missile systems) reported some good news: Its board okayed an annual dividend hike to $1.24, from $1.12.
I view this as a big sign of confidence. I should also point out that the company is expected to earn $4.63 a share this year and $4.97 a share next year. Not too shabby for a stock that can be had for $37 and change.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
