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Red Hat (RHT -0.1%) has almost fully erased the huge AH losses it saw yesterday following its...

Mar. 28, 2013 11:00 AM ETRed Hat, Inc. (RHT) StockRHTBy: Eric Jhonsa, SA News Editor
Red Hat (RHT -0.1%) has almost fully erased the huge AH losses it saw yesterday following its FQ4 revenue miss. Expectations had fallen over the last 2 months, and management's earnings call commentary about strong $1M+ deal activity and growing demand for non-OS products (50% of top-30 deals included middleware, and 4 were middleware-only). Needham is cutting estimates due to Red Hat's guidance, but likes the strong middleware activity, and the fact its 25 biggest deal renewals were renewed at over 120% of their prior value.

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