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CNET News.com: Red Hat shares climb on earnings optimism

Dec 13, 2000, 15:59 (0 Talkback[s])

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"Red Hat shares rose 17 percent Tuesday on investor optimism that the largest U.S. distributor of software based on the Linux operating system will meet or exceed financial forecasts, an analyst said."

Shares of Red Hat rose $1.22 to close regular trading at $8.44 after earlier touching $9. The shares had lost 95 percent of their value after reaching a 52-week high of $148 on Jan. 10."

"Red Hat is scheduled to announce its fiscal second-quarter financial results Thursday. The company was expected to lose 2 cents a share, the average estimate of six analysts surveyed by First Call/Thomson Financial."

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