Bezos's comments give a rare glimpse into his interest in the auto industry. Amazon recently invested in two self-driving start-ups.Technologyread more
While investing often seems like a contrarian game where going against the flow feels like the better bet, the reality is that investors who bought the most-favored stocks...Hedge Fundsread more
"We are now embarking on a new Long March, and we must start all over again!" Xi Jinping said.Marketsread more
The launch comes as Apple's laptops have been criticized for a keyboard design that users say breaks easily and results in key presses resulting in doubled-up characters or...Tech Driversread more
Craig Irwin of Roth Capital Partners said Apple tried to buy Tesla six years ago for a higher price than where the stock now trades.Technologyread more
The White House has threatened to slap tariffs on apparel and footwear, leading retailers to speak out about how this would hurt business.Retailread more
Connecticut state Sen. Alex Bergstein's divorce case with her husband, Morgan Stanley managing director Seth Bergstein, has exposed her new romantic relationship with her...Politicsread more
Former Facebook executive Alex Stamos said Mark Zuckerberg should hire a new CEO and turn his focus to building products.Technologyread more
Comcast is working on a device to monitor people's health at home, as well as some media and communications services, according to people familiar with the plans.Technologyread more
As shopping has shifted online and styles have evolved, Ascena has been grappling with sagging sales and a large debt-load. Looking to stem the losses, Ascena is turning to...Retailread more
Stock pickers are having their best year in a decade, according to Bank of America Merrill Lynch.Marketsread more
Red Hat's stock may have just had its worst trading day since 2006 after the company's earnings guidance underwhelmed Wall Street, but that won't matter in the longer term, CEO Jim Whitehurst told CNBC on Friday.
"If I could change anything" about the post-earnings conference call, "I would encourage investors to look long-term," Whitehurst, also Red Hat's president, told "Mad Money" host Jim Cramer in an interview.
While the open-source software company beat analysts' top- and bottom-line estimates, it missed their estimates for the fiscal second-quarter forecast.
One pain point for Red Hat, which helps enterprises connect to the cloud and link various applications together, was its lighter-than-expected billings results.
Whitehurst emphasized that, in the last 10 years, management has repeatedly informed investors about the inherent volatility of Red Hat's billings.
"The last time I was on [Mad Money], ... we had kind of a light billings quarter and the stock dropped a lot then and then, obviously, has doubled since then," the CEO said Friday. "We don't manage the billings because they're not a great indicator of the health of the company and so, because analysts look at billings, that creates some volatility and we just learn to live with that."
Adding that "it's one quarter," Whitehurst told Cramer he expected some of the weakness came from analysts anticipating a "beat-and-raise" quarter rather than one that was in line with Red Hat's guidance.
"We had a really great year last year, which creates tough comps," he admitted. "We said what we would do, we delivered that, we reaffirmed guidance for the year other than pulling down for currency, but I think there was a sense that we were going to really blow it out and, frankly, we just delivered what we said we'd deliver. And that created a bit of disappointment."
Red Hat's longer term deals — and the 65 percent year-over-year growth it had in deals over $1 million — should sustain the company through the stock's downturn, Whitehurst said.
Shares of Red Hat dropped 14.23 percent on Friday, settling at $142.14.