On December 12, 2006, Red Hat stock moved from trading on NASDAQ (RHAT) to the New York Stock Exchange (RHT). In 2007 Red Hat acquired MetaMatrix and made an agreement with Exadel to distribute its software. On March 15, 2007, Red Hat released Red Hat Enterprise Linux 5, and in June acquired Mobicents.
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Red Hat.
| The new logo since May 1, 2019 | |
|---|---|
| Red Hat Tower, the headquarters of Red Hat | |
| Type | Subsidiary (IBM) |
| Industry | Computer software |
| Predecessor | Cygnus Solutions |
What happened to Red Hat?
· Red Hat Inc (NYSE:RHT) announced its earnings results on Thursday, June, 20th. The open-source software company reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.14. The open-source software company had revenue of $934.10 million for the quarter, compared to analyst estimates of $931.58 million.
Who holds Red Hat's stock?
Shares of Red Hat ( RHT) soared by 45.4% to close at 169.93 on the stock market today. Red Hat stock hit a record high of 177.70 on June 14. IBM stock ended the day down 4.1% to …
Is Red Hat stock overvalued or undervalued?
· Shares of Red Hat (NYSE: RHT) crashed on Friday, following Thursday night's release of the open-source software vendor's first-quarter results. The stock opened Friday's trading session 14.6% ...
How were Red Hat’s earnings last quarter?
The open-source software veteran beat the Street's first-quarter estimates and raised its full-year guidance targets, but the overheated stock got a …
Is Red Hat still publicly traded?
What is Red Hat's stock symbol? Red Hat trades on the New York Stock Exchange (NYSE) under the ticker symbol "RHT."
Who owns Red Hat now?
IBMRed Hat Software / Parent organizationAfter IBM acquired Red Hat for $34 billion in October 2019 and then Red Hat CEO Jim Whitehurst was named IBM's President three months later, most IBM and Red Hat analysts assumed it was only a matter of time before Whitehurst would take over the top job of IBM CEO.
Why did IBM sell Red Hat?
We see two major drivers for IBM to acquire Red Hat. First, IBM to become a real open source player in the market and second to not lose field in the cloud area. As IBM has a major presence in on premises environments, with Red Hat's acquisition they can now move towards hybrid cloud.
What happened to Red Hat Linux?
In 2003, Red Hat discontinued the Red Hat Linux line in favor of Red Hat Enterprise Linux (RHEL) for enterprise environments. Fedora Linux, developed by the community-supported Fedora Project and sponsored by Red Hat, is a free-of-cost alternative intended for home use.
How is Red Hat doing under IBM?
Rosamilia reported that Red Hat grew 21 percent in the fourth quarter of 2021, making it a leading part of his promise to investors in October 2021 to get IBM as a whole to mid-single digit revenue growth between 2022 and 2024.
Did IBM pay too much for Red Hat?
When it comes to Kubernetes, VMware has “better assets,” Gelsinger said. IBM paid $34 billion for Red Hat. Meanwhile VMware paid $2.8 billion for Pivotal, which has a similar Kubernetes play.
Who owns IBM now?
IBM primarily generates revenue today through its five segments: Cloud & Cognitive Software; Global Business Services; Global Technology Services; Systems; and Global Financing. The top shareholders of IBM are James Whitehurst, Arvind Krishna, James Kavanaugh, Vanguard Group Inc., BlackRock Inc., and State Street Corp.
Does Oracle own Red Hat?
- A Red Hat partner has been acquired by Oracle Corp., the enterprise software giant.
What is Red Hat worth?
approximately US$34 billionIn 2019, IBM acquired Red Hat for approximately US$34 billion, breaking the record for the largest software acquisition in history.
Who owns Linux?
Linus TorvaldsWho “owns” Linux? By virtue of its open source licensing, Linux is freely available to anyone. However, the trademark on the name “Linux” rests with its creator, Linus Torvalds. The source code for Linux is under copyright by its many individual authors, and licensed under the GPLv2 license.
How does Red Hat make money?
Today, Red Hat makes its money not from selling any "product," but by selling services. Open source, a radical notion: Young also realized that Red Hat would need to work with other companies for long-term success. Today, everyone uses open source to work together. In the 90s, it was a radical notion.
Who are red hats competitors?
Red Hat competitors include IBM, SAP, VMware, Microsoft and Oracle. Red Hat ranks 1st in Employee Net Promoter Score on Comparably vs its competitors.
How were Red Hat's earnings last quarter?
Red Hat Inc (NYSE:RHT) issued its earnings results on Thursday, June, 20th. The open-source software company reported $1.00 EPS for the quarter, to...
Who are Red Hat's key executives?
Red Hat's management team includes the following people: Mr. James M. Whitehurst , Pres, CEO & Director (Age 51) Mr. Eric R. Shander , Exec. VP...
Who are some of Red Hat's key competitors?
Some companies that are related to Red Hat include Microsoft (MSFT) , Oracle (ORCL) , ServiceNow (NOW) , VMware (VMW) , Fortinet (FTNT) , Axo...
What other stocks do shareholders of Red Hat own?
Based on aggregate information from My MarketBeat watchlists, some companies that other Red Hat investors own include Alibaba Group (BABA) , NVID...
What is Red Hat's stock symbol?
Red Hat trades on the New York Stock Exchange (NYSE) under the ticker symbol "RHT."
How much money does Red Hat make?
Red Hat has a market capitalization of $0.00 and generates $3.36 billion in revenue each year. The open-source software company earns $433.99 milli...
How many employees does Red Hat have?
Red Hat employs 13,360 workers across the globe.
What is Red Hat's official website?
The official website for Red Hat is www.redhat.com .
Where are Red Hat's headquarters?
Red Hat is headquartered at 100 EAST DAVIE STREET, RALEIGH NC, 27601 .
What happened
Shares of Red Hat (NYSE: RHT) crashed on Friday, following Thursday night's release of the open-source software vendor's first-quarter results. The stock opened Friday's trading session 14.6% lower, recovered to a 10.1% decline near 11:20 a.m. EDT, and was trading at a 12.5% negative return near 2:30 p.m. EDT.
So what
Red Hat's first-quarter sales rose 20% year over year to land at $814 million. Earnings increased by 24%, stopping at $0.72 per diluted share. Your average Wall Street analyst would have settled for earnings near $0.69 per share on revenues of roughly $807 million.
Now what
This stock had been on a roll, making it more vulnerable to quick market corrections. Coming in to this report, Red Hat shares had gained 68% over the previous 52 weeks. After the sharp sell-off, we Red Hat investors have still enjoyed market-beating one-year gains of 47%.
The open-source software veteran beat the Street's first-quarter estimates and raised its full-year guidance targets, but the overheated stock got a haircut anyway
Anders Bylund is a Foolish Technology and Entertainment Specialist. Where the two markets intersect, you'll find his wheelhouse. He has been an official Fool since 2006 but a jester all his life.
What happened
Shares of Red Hat ( NYSE:RHT) crashed on Friday, following Thursday night's release of the open-source software vendor's first-quarter results. The stock opened Friday's trading session 14.6% lower, recovered to a 10.1% decline near 11:20 a.m. EDT, and was trading at a 12.5% negative return near 2:30 p.m. EDT.
So what
Red Hat's first-quarter sales rose 20% year over year to land at $814 million. Earnings increased by 24%, stopping at $0.72 per diluted share. Your average Wall Street analyst would have settled for earnings near $0.69 per share on revenues of roughly $807 million.
Now what
This stock had been on a roll, making it more vulnerable to quick market corrections. Coming in to this report, Red Hat shares had gained 68% over the previous 52 weeks. After the sharp sell-off, we Red Hat investors have still enjoyed market-beating one-year gains of 47%.
How much did IBM buy Red Hat?
The deal was originally announced in October, when the companies said IBM would buy all shares in Red Hat for $190 each in cash. The acquisition of Red Hat, an open-source, enterprise software maker, marks the close of IBM’s largest deal ever. It’s one of the biggest in U.S. tech history.
What was the deal between IBM and Red Hat?
03:02. IBM and Red Hat CEOs on closing $34 billion deal. Squawk on the Street. IBM closed its $34 billion acquisition of Red Hat, the companies announced Tuesday. Shares of IBM were down less than 1% in late-morning trading. The deal was originally announced in October, when the companies said IBM would buy all shares in Red Hat for $190 each in ...
Who advised IBM on Red Hat?
Goldman Sachs, J.P. Morgan and Lazard advised IBM on the Red Hat deal. Morgan Stanley and Guggenheim advised Red Hat. — CNBC’s Jordan Novet, Alex Sherman and Lora Kolodny contributed to this report.
Is Red Hat part of IBM?
Under the deal, Red Hat will now be a unit of IBM’s hybrid cloud division, according to the original announcement. The companies said Red Hat’s CEO, Jim Whitehurst, would join IBM’s senior management team and report to CEO Ginni Rometty.
Is OpenShift a Red Hat product?
In an April note, Nomura Instinet analysts led by Jeffrey Kvaal said, “OpenShift [a Red Hat product] should help IBM win new customers and new workloads as enterprises begin to usher mission-critical applications from on-premise to public or private clouds.”.
Barchart Technical Opinion
The Barchart Technical Opinion rating is a 100% Buy with a Average short term outlook on maintaining the current direction.
Business Summary
Red Hat is the world's leading provider of open source software solutions, using a community-powered approach to provide reliable and high-performing cloud, Linux, middleware, storage and virtualization technologies. Red Hat also offers award-winning support, training, and consulting services. As a connective...
What is the role of IBM in Red Hat?
IBM preserves Red Hat’s independence and neutrality, and this will enable IBM to become one of the largest hybrid cloud providers.
Will Red Hat and IBM enter the same market?
It looks like IBM and Red Hat will enter the same market and therefore the same challenges. If this will be a positive or negative impact for companies using IBM and Red Hat products remains to be seen. It surely is worth to watch the development and the possible software licensing impact. The overall impact for both IBM ...
Is Red Hat part of IBM?
Red Hat’s main activities relate to open-source software and support services, while IBM is active in a wide variety of IT solutions, namely enterprise IT software, hardware and services.”. On July 9th, 2019 Red Hat announced that they closed the landmark acquisition by IBM.
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How much did Red Hat pay for the restatement of financial results?
On December 15, 2009, it was reported that Red Hat will pay US$8.8 million to settle a class action lawsuit related to the restatement of financial results from July 2004. The suit had been pending in U.S. District Court for the Eastern District of North Carolina. Red Hat reached the proposed settlement agreement and recorded a one-time charge of US$8.8 million for the quarter that ended Nov. 30.
Who owns Red Hat Linux?
In 1993, Bob Young incorporated the ACC Corporation, a catalog business that sold Linux and Unix software accessories. In 1994, Marc Ewing created his own Linux distribution, which he named Red Hat Linux (associated with the time Ewing wore a red Cornell University lacrosse hat, given to him by his grandfather, while attending Carnegie Mellon University ). Ewing released the software in October, and it became known as the Halloween release. Young bought Ewing's business in 1995, and the two merged to become Red Hat Software, with Young serving as chief executive officer (CEO).
When did Red Hat magazine come out?
The company originally produced a newsletter called Under the Brim. Wide Open magazine first appeared in March 2004, as a means for Red Hat to share technical content with subscribers on a regular basis. The Under the Brim newsletter and Wide Open magazine merged in November 2004, to become Red Hat Magazine.
What is Red Hat Enterprise MRG?
Red Hat Enterprise MRG replaces the Red Hat Enterprise Linux RHEL, a Linux distribution developed by Red Hat, kernel in order to provide extra support for real-time computing, together with middleware support for message brokerage and scheduling workload to local or remote virtual machines, grid computing, and cloud computing.
What is Red Hat's business model?
Red Hat operates on a business model based on open-source software, development within a community, professional quality assurance, and subscription-based customer support. They produce open-source code so that more programmers can make adaptations and improvements.
What is Red Hat subscription?
Red Hat sells subscriptions for the support, training, and integration services that help customers in using their open-source software products. Customers pay one set price for unlimited access to services such as Red Hat Network and up to 24/7 support.
When did IBM buy Red Hat?
On October 28, 2018 , IBM announced its intent to acquire Red Hat for US$34 billion, in one of its largest-ever acquisitions. The company will operate out of IBM's Hybrid Cloud division.