Red Hat Climbs, Resources Connection Declines: U.S. After-Hours
By Eric Martin
Sept. 25 (Bloomberg) -- Red Hat Inc. gained in extended U.S. trading after the world's biggest seller of Linux operating- system programs said profit rose 64 percent after sales of new products topped analysts' estimates.
Red Hat shares added $1.01, or 5.3 percent, to $19.90 at 6:16 p.m. in New York. Fiscal second-quarter sales at Red Hat were $127.3 million. Analysts expected $125.2 million, the average estimate in a Bloomberg survey. Red Hat also gave an earnings forecast that matched estimates.
Resources Connection Inc. fell $3.04, or 10 percent, to $26.29. The provider of legal and accounting services said fiscal first-quarter revenue was $194.1 million. That missed the average analyst estimate of $197.1 million.
Standard Microsystems Corp. climbed $2.11, or 5.8 percent, to $38.23. The designer of semiconductors for use in personal computers forecast revenue of as much as $101 million in the third quarter. Analysts expected $99.7 million.
December futures on the Standard & Poor's 500 Index gained 1.6 to 1,530.5, while Nasdaq-100 Index futures added 5.25 to 2,102.75.
In regular trading, most U.S. stocks dropped for a second day after Target Corp. and Lowe's Cos. reduced forecasts, heightening concern that the housing slump has slowed consumer spending.
The S&P 500 slipped 0.52 to 1,517.21. The Dow Jones Industrial Average increased 19.59, or 0.1 percent, to 13,778.65. The Nasdaq Composite Index added 15.5, or 0.6 percent, to 2,683.45. About eight stocks dropped for every five that rose on the New York Stock Exchange. |