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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

3/12/2013

Red Hat Inc. (RHT)

Red Hat shares are trading in the red today, down 4.74% at $50.62. The software company saw its shares crash after being downgraded. Citi analyst, Walter Pritchard, downgraded the company from buy to neutral and cut his price target by $8.00 down to $56.00. Pritchard stated that the downgrade came from the fact that Red Hat may be receiving less of a boost from its partners, which could send billings growth down below 15%. Furthermore, Pritchard noted that the company appears to have no big spark on the horizon that would help push Red Hat higher. Red Hat is still trading above its 52-week low of $46.34.

Cabela's Incorporated (CAB)

Cabela's jumped higher today, up 12.54% at $60.66. The outdoors retailer saw its shares bounce after releasing its first quarter outlook. Cabela's said its sales are strong across most of its merchandise categories. As a result, the company expects its earnings per share will be $0.10 to $0.15 higher than analysts' estimates. Analysts' were expecting EPS of $0.47 for the quarter. Cabela's management said that direct sales can be expected to increase low-mid teens percentage, and sales open at least a year should increase at a high-teens percentage. The company set a new 52-week high today, by around $4.00.
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