Red Hat, Micron, Oracle: Tech Premarket
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 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."
--Written by James Rogers in New York.
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