Key Developments: Red Hat Inc (RHT.N)

RHT.N on New York Stock Exchange

54.73USD
4:00pm EDT
Price Change (% chg)

$-0.05 (-0.09%)
Prev Close
$54.78
Open
$54.71
Day's High
$54.87
Day's Low
$54.12
Volume
240,765
Avg. Vol
372,442
52-wk High
$61.44
52-wk Low
$41.91

Search Stocks

Latest Key Developments (Source: Significant Developments)

Red Hat Inc Tightens FY 2014 Revenue Outlook; Raises Low End Of Prior FY 2014 Outlook To A Range Above Estimates; Issues Q3 2014 Outlook; Revenue Outlook Below Estimates-Conference Call
Monday, 23 Sep 2013 05:00pm EDT 

Red Hat Inc announced that it is tightening the range of revenue outlook to $1.51 billion to $1.52 billion for fiscal 2014. The Company also raised its fiscal 2014 non-GAAP EPS outlook by $0.05 at the low end to $1.36 to $1.38 per share. For the third quarter of 2014, the Company estimates revenue to be approximately $381 million to $384 million and non-GAAP EPS to be approximately $0.34 to $0.35. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $1.52 billion and EPS of $1.35 for fiscal 2014; and revenue of $391 million and EPS of $0.34 for the third quarter of 2014.  Full Article

Red Hat Inc Issues Q2 2014 Guidance In Line With Analysts' Estimates-Conference Call
Wednesday, 19 Jun 2013 09:00pm EDT 

Red Hat Inc announced that for the second quarter of 2014, it expects revenue to be approximately $370 million to $373 million and non-GAAP EPS to be $0.32 to $0.33 a share. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $373 million and EPS of $0.33 for the second quarter of 2014.  Full Article

Red Hat Inc Issues Q1 2014 Revenue Guidance In Line With Analysts' Estimates-Conference Call
Tuesday, 7 May 2013 12:30pm EDT 

Red Hat Inc announced that for first quarter of 2014, it expects revenues to be $358 million to $361 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $360 million for first quarter of 2014.  Full Article

Red Hat Inc Issues Q1 2014 Revenue Guidance In Line With Analysts' Estimates-Conference Call
Tuesday, 7 May 2013 12:30pm EDT 

Red Hat Inc announced that for first quarter of 2014, it expects revenues to be $358 million to $361 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $360 million for first quarter of 2014.  Full Article

Red Hat Inc Announces $300 Million Stock Repurchase Program
Monday, 15 Apr 2013 04:05pm EDT 

Red Hat Inc announced that its Board of Directors has authorized the repurchase of up to $300 million of Red Hat`s common stock from time to time on the open market or in privately negotiated transactions. The new program replaces the previous $300 million repurchase program, the final $179 million of which was completed since February 28, 2013 at an average price of $49.15 per share, inclusive of commissions, for a total of 3.6 million shares. announced that its Board of Directors has authorized the repurchase of up to $300 million of Red Hat`s common stock from time to time on the open market or in privately negotiated transactions. The new program replaces the previous $300 million repurchase program, the final $179 million of which was completed since February 28, 2013 at an average price of $49.15 per share, inclusive of commissions, for a total of 3.6 million shares.  Full Article

Cisco Systems Inc, International Business Machines Corp, Red Hat, Inc. And Others Team Up On New Technology Project-Reuters
Monday, 8 Apr 2013 03:21pm EDT 

Reuters reported that Cisco Systems Inc, International Business Machines Corp (IBM) and Citrix Systems Inc have joined forces with other tech companies in a consortium to kickstart the corporate market for software-defined networking (SDN), aimed at making network management easier and cheaper. Other members of the development platform called OpenDaylight include Juniper Networks, Inc., VMware Inc, Microsoft Corp, Red Hat, Inc., Intel Corp and Brocade Communications Systems Inc as well as privately held Big Switch Networks and Arista Networks. Each member will contribute technology such as code to the project in an effort to share the costs of basic research and development, and enable products from different vendors to work together. Vendors will still be able to customize their offerings to differentiate themselves from rivals. The SDN market is still considered nascent, but is expected to grow to $3.7 billion by 2016 from an estimated $360 million this year, according to research firm IDC. The first code from OpenDaylight is expected to be released in the third quarter of this year.  Full Article

Red Hat Inc And Rackspace Hosting Inc Announces Dismissal Of All Claims In Lawsuit Brought By Uniloc USA, Inc
Thursday, 28 Mar 2013 08:00am EDT 

Red Hat Inc and Rackspace Hosting Inc announced that they have won a federal court decision granting early dismissal of all claims in a lawsuit brought by the patent assertion entity Uniloc USA, Inc. Plaintiff Uniloc USA, Inc. is a frequent litigator, having brought patent lawsuits against many high-tech companies including Adobe, Microsoft, Sony and Symantec. Rackspace provides its customers with managed servers running the Linux operating system. Red Hat, which supplies Linux to Rackspace, provided Rackspace`s defense as part of Red Hat`s commitment to standing behind customers through Red Hat`s Open Source Assurance program. Uniloc USA, Inc. filed the complaint against Rackspace in June 2012 in federal court in the Eastern District of Texas. The complaint alleged that the processing of floating point numbers by the Linux operating system violated U.S. Patent 5,892,697. Rackspace and Red Hat immediately moved to dismiss the case prior to filing an answer. In dismissing the case, Chief Judge Leonard Davis found that Uniloc`s claim was unpatentable under Supreme Court case law that prohibits the patenting of mathematical algorithms.  Full Article

Red Hat Inc Issues FY 2014 Guidance; EPS Guidance Below Analysts' Estimates-Conference Call
Wednesday, 27 Mar 2013 05:00pm EDT 

Red Hat Inc announced that for fiscal 2014, it expects total revenue in the range of $1.51 billion to $1.54 billion and diluted non-GAAP EPS in the range of $1.31 to $1.35 per share. According to I/B/E/S Estimates, analysts on average are expecting the Company to report revenue of $1.54 billion and EPS of $1.37 for fiscal 2014.  Full Article

Red Hat Inc Issues Q4 2013 Guidance; Revenue Guidance Below Analysts' Estimates; Raises FY 2013 Revenue Guidance; Raises Low End Of Prior FY 2013 EPS Guidance-Conference Call
Thursday, 20 Dec 2012 10:00pm EST 

Red Hat Inc announced that for the fourth quarter of 2013, it expects revenue to be approximately $347 million to $350 million, non-GAAP EPS to be approximately $0.29 to $0.30 a share. If these estimates for fourth quarter are achieved then that means fiscal 2013 estimates for these same measures are revenue at $1.328 billion to $1.331 billion and non-GAAP EPS of approximately $1.16 to $1.17. According to I/B/E/S Estimates, analysts on average are expecting the Company to report revenue of $351 million and EPS of $0.30 for fourth quarter of 2013; revenue of $1.326 billion and EPS of $1.17 for fiscal 2013.  Full Article

Red Hat Inc Signs Definitive Agreement To Acquire ManageIQ
Thursday, 20 Dec 2012 04:05pm EST 

Red Hat Inc announced that it has entered into a definitive agreement to acquire ManageIQ, a leading provider of enterprise cloud management and automation solutions that enable organizations to deploy, manage and optimize private clouds, virtualized infrastructures and virtual desktops. Red Hat has agreed to acquire ManageIQ, a privately-held company, for approximately $104.0 million in cash.  Full Article

CORRECTED-UPDATE 2-Red Hat raises revenue forecast on strong subscription growth (June 18)

(In June 18 story, corrects paragraph 1 to say company raised full-year revenue, not adjusted profit, forecast. Corrects paragraph 5 to say company cut its full-year adjusted profit forecast to $1.52-$1.54 per share, not raised it to $1.59-$1.61)

Search Stocks