Red Hat Inc. (RHT) reported fourth quarter adjusted EPS of $0.43 after the close Wednesday, compared to $0.39 in the previous year. Analysts expected EPS of $0.41. Red Hat also announced that it board has authorized the repurchase of up to $500 million of its common stock.
Red Hat has gapped open sharply higher Thursday morning and is now up 5.13 at $73.58 on above average volume. The stock has broken out of over a 3-month trading range and has set a new high for the year.
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