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Motley Fool: Red Hat Hotter Than Blazes

Dec 02, 1999, 19:02 (2 Talkback[s])
(Other stories by Richard McCaffery)

"...since going public August 10 at $14, Red Hat is up well over 1,000%. ...the company soared again yesterday on talk it's looking for additional acquisitions in the wake of its $674 million stock deal to purchase Cygnus Solutions... A spokesperson said Red Hat wants to build on momentum for the open source software system."

"Yesterday the talk swirled around Ottawa, Canada-based Corel (Nasdaq: CORL), a company that develops software for the Linux operating system. Last Friday, Interactive Week Online speculated that Red Hat might make a pitch for Corel to improve its ability to work on desktops."

"...Red Hat didn't gain $23 yesterday on talk about buying Corel... Rather, investors are bidding up shares in the belief that Red Hat will continue to expand its reach beyond the enterprise server market to all areas -- desktops, small devices, and Internet appliances -- and that by doing so it will become a legitimate contender to Microsoft (Nasdaq: MSFT)."

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