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Novell's Loss Turns Into Red Hat's Gain

Stock quotes in this article: RHAT , NOVL , ORCL , IBM , BEAS  

Shares of Red Hat(RHAT Quote) soared Thursday, as technology investors fled from Novell(NOVL Quote), the Linux vendor's major rival.

Red Hat surged on the strength of positive comments from Goldman Sachs and Merrill Lynch and Novell's weak second-quarter earnings and disappointing third-quarter guidance.

In recent trading, shares of Red Hat were up $2.02, or 7.7%, to $28.24, while Novell was losing $1.37, or 17.7%, to $6.36. ...

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