Stock Watch: Rosy Forecast Powers Red Hat

Red Hat, Inc. was up 7/8 to 20 7/8 in Thursday morning trading following reports that the company’s chief financial officer expects revenue to double over the next four years.

Red Hat shares were trading above $151 at the end of last year, but have dropped along with those of other technology companies. Red Hat, based in Research Triangle Park, North Carolina, makes software for the Linux operating system. Earlier this week, the company formed a new division to invest in start-up companies.

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