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Seattle Post-Intelligencer: Look Out, Here Comes Red Hat

Apr 23, 2003, 19:00 (10 Talkback[s])
(Other stories by Jason Kelly)

"Red Hat Inc., a software company whose profits come from programs available free on the Internet, has convinced some investors it can thrive against Microsoft Corp., a competitor with more than 350 times its sales.

"Since October, seven money managers have each bought more than half a million shares of Red Hat, the largest distributor of the Linux computer operating system.

"Fidelity Investments, Wellington Management Co. LLC and American Century Investments bought a combined 11.1 million shares, helping to push them up 31 percent in less than seven months to $6.14 at yesterday's close..."

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