Red Hat, Micron, Oracle: Tech Premarket
NEW YORK (TheStreet) -- Red Hat (RHT) shares plunged 9.91% to $50.90 before market open on Thursday as investors responded to the software maker's first-quarter results, released late on Wednesday.
The Raleigh, N.C.-based firm cruised past analysts' first-quarter estimates, although weak billings and second-quarter guidance sent shares plummeting in extended trading.
Shares of Micron Technology (MU) were also down in premarket trading, off 1.63% to $6.02 before market open as investors digested the company's third-quarter results. The semiconductor specialist reported a worse-than-anticipated quarterly loss after market close on Wednesday amid declining margins in its NAND Flash products.
Micron was also one of the most active Nasdaq stocks in premarket trading on share volume of 90,120.
Oracle (ORCL) shares rose 0.81% to $28.72. The database giant's shares closed up 1.9% on Wednesday, boosted by strong fourth-quarter earnings earlier this week. Oracle was another active premarket Nasdaq stock on share volume of 64,172. In a filing with the Securities and Exchange Commission on Thursday, Oracle confirmed that Keith Block, the firm's executive vice president for North America sales and consulting, has decided to leave the firm "to pursue other opportunities." Apple (AAPL), which suffered an iCloud outage on Wednesday, was down 0.14% to $584.91 before market open. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: tips@thestreet.com. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.Select the service that is right for you!
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