Hot Stocks to Trade on Thursday (Red Hat, Paychex, AGL, CKE)
Stocks to Trade .
(EMAILWIRE.COM, March 25, 2010 ) Dallas, Tx - Red Hat, Inc. (NYSE:RHT) fell 5.50% after it reported growth in a key indicator of new business that was below Wall Street projections.
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Red Hat reported a profit, excluding items, of 19 cents per share for its fiscal fourth quarter ended Feb. 28, beating the Wall Street average forecast of 16 cents, according to Thomson Reuters I/B/E/S. Quarterly revenue rose 18 percent from a year earlier to $196 million, beating the average forecast of $193 million.
It was the fourth consecutive quarter in which both profit and revenue exceeded Wall Street estimates.
Red Hat also announced a $300 million stock repurchase plan that it said replaces a previous $250 million buyback.
Paychex, Inc. (NASDAQ:PAYX) fell 3% to $31.34 after the company posted lower than the expected earnings. Net income for its fiscal third quarter ended Feb. 28 was $112 million, or 31 cents a share, compared with $130.8 million or 36 cents a share last year.
Paychex, which competes with larger rival Automatic Data Processing Inc (ADP.O) in providing payroll services, said total revenue fell 4 percent to $507.8 million.
Analysts on average were looking for a profit of 33 cents a share, before items, on revenue of $509.3 million, according to Thomson Reuters I/B/E/S.
AGL Resources Inc. (NYSE:AGL) rose 0.35% to $37.92 after it announced it has reached a definitive agreement to sell its AGL Networks dark-fiber telecommunications business to Colorado-based Zayo Group, LLC.
CKE Restaurants, Inc. (NYSE:CKR) fell 1.90% to $11.04 after reported its fourth-quarter net income jumped to $15.4 million, or 28 cents a share, from $2.6 million, or 5 cents a share, in the same period last year. Quarterly earnings were partly boosted by a $9.9 million tax benefit, the operator of Carl's Jr. and Hardee's restaurants said. Same-store sales fell 6% in the quarter due to the bad weather, compared with 0.3% growth in the fourth quarter of 2009. Revenue fell 4.8% to $311.7 million.
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Red Hat reported a profit, excluding items, of 19 cents per share for its fiscal fourth quarter ended Feb. 28, beating the Wall Street average forecast of 16 cents, according to Thomson Reuters I/B/E/S. Quarterly revenue rose 18 percent from a year earlier to $196 million, beating the average forecast of $193 million.
It was the fourth consecutive quarter in which both profit and revenue exceeded Wall Street estimates.
Red Hat also announced a $300 million stock repurchase plan that it said replaces a previous $250 million buyback.
Paychex, Inc. (NASDAQ:PAYX) fell 3% to $31.34 after the company posted lower than the expected earnings. Net income for its fiscal third quarter ended Feb. 28 was $112 million, or 31 cents a share, compared with $130.8 million or 36 cents a share last year.
Paychex, which competes with larger rival Automatic Data Processing Inc (ADP.O) in providing payroll services, said total revenue fell 4 percent to $507.8 million.
Analysts on average were looking for a profit of 33 cents a share, before items, on revenue of $509.3 million, according to Thomson Reuters I/B/E/S.
AGL Resources Inc. (NYSE:AGL) rose 0.35% to $37.92 after it announced it has reached a definitive agreement to sell its AGL Networks dark-fiber telecommunications business to Colorado-based Zayo Group, LLC.
CKE Restaurants, Inc. (NYSE:CKR) fell 1.90% to $11.04 after reported its fourth-quarter net income jumped to $15.4 million, or 28 cents a share, from $2.6 million, or 5 cents a share, in the same period last year. Quarterly earnings were partly boosted by a $9.9 million tax benefit, the operator of Carl's Jr. and Hardee's restaurants said. Same-store sales fell 6% in the quarter due to the bad weather, compared with 0.3% growth in the fourth quarter of 2009. Revenue fell 4.8% to $311.7 million.
About http://www.PennyStockPickReport.com
Penny Stock Pick Report offers a stock newsletter on OTC, PINKSHEETS ,OTCBB, AMEX, NASDAQ and NYSE stock exchange. Our subscribers receive daily up to date stock information on hot stocks ,most active movers, top gainers, penny stocks and much more. If you wish to feature your organization on our website then you can contact us at the email given below.
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PickReport
Jim
Tel: 214 556 6798
Email us
This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.
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