Stocks: (MSFT)(NOVL)(RHAT)
RedHat was supposed to be on its way out. The largest supplier of Linux open source products to corporations was going to be crushed by rival Novell after its signed a deal with Microsoft to joint market Linux and Windows. Open source programmer where upset by the deal, but Microsoft is prepared to put up hundreds of millions of dollars to support it.
Well, perhaps large corporations who want open source operating systems want to avoid a Microsoft-funded venture. Fox. Chicken hous.
RedHat reveue took off in the last quarter. RedHat added 12,000 new customers in the quarter and revenue was up 45% to $108 million.
The stock, which fell to under $14 on the Novell/Microsoft tie up hit over $20 after hours.
Microsoft’s attempt to move into the world of Linux is not looking very good now.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
Are You Ahead, or Behind on Retirement? (sponsor)
If you’re one of the over 4 Million Americans set to retire this year, you may want to pay attention. Many people have worked their whole lives preparing to retire without ever knowing the answer to the most important question: are you ahead, or behind on your retirement goals?
Don’t make the same mistake. It’s an easy question to answer. A quick conversation with a financial advisor can help you unpack your savings, spending, and goals for your money. With SmartAsset’s free tool, you can connect with vetted financial advisors in minutes.
Why wait? Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.