President Trump announced fresh sanctions on the Islamic Republic on Monday, following the downing of an unmanned American drone last week.Politicsread more
President Donald Trump's son-in-law Jared Kushner has presented a $50 billion investment plan for economic growth and peace in the Middle East that has been greeted with...World Politicsread more
Stocks should rally if the U.S. and China agree to new negotiations and a ceasefire in the trade war, but the economic impact of tariffs will continue.Market Insiderread more
The trade war between Beijing and Washington appears to have depressed Chinese property purchases in the United States. China's own actions may also be playing a role.Real Estateread more
Tesla CEO Elon Musk sent out another email to his employees, pushing them to aim for a record number of vehicle deliveries to end the second quarter of 2019.Technologyread more
More than 300 companies are talking to government officials in Washington about how detrimental the trade war is.Marketsread more
Democrats want Mueller's testimony on his probe into Russian interference in the 2016 election and Trump's efforts to influence it.Politicsread more
The Senate is expected to pass its own version of the border aid legislation, while the Trump administration has threatened to veto both bills.Politicsread more
Some 4 million people have fled the South American country since 2015 amid an economic meltdown.World Politicsread more
Japanese designer Undercover posted on its Instagram account a photo of protesters with the slogan "no extradition to China," the Financial Times reported.China Politicsread more
Powell stresses the central bank's independence in a speech that comes amid continuous pressure from the White House to cut interest rates.The Fedread more
Red Hat stock fell almost 5 percent on Tuesday after it reported better-than-expected earnings for the third quarter of its 2018 fiscal year, which ended on Nov. 30.
Red Hat's revenue was up 22 percent year over year. Application development and emerging technology subscription revenue came in at $162 million, which was up 44 percent year over year. Operating cash flow was $160 million, up 18 percent year over year and above the FactSet consensus of $147.8 million, according to StreetAccount.
With respect to guidance, the company said in a statement that it expects 81 cents in earnings per share, excluding certain items, and $758 million to $763 million in revenue in its fiscal fourth quarter. Analysts were expecting 75 cents in earnings per share, excluding certain items, and $753.7 million in revenue for that period, according to Thomson Reuters.
Red Hat brings in revenue from subscriptions, training and support for a distribution of the Linux open-source operating system and other software. Competitors include Hewlett Packard Enterprise, IBM, Microsoft and Oracle.
On Dec. 15 Stifel raised its target price for Red Hat stock to $150 per share. "We believe RHT's strategic position continues to strengthen as companies adopt hybrid cloud environments," Stifel's Brad Reback and Adam Borg wrote in a note.
Red Hat stock is up about 85 percent since the beginning of the year.