Red Hat (NYSE:RHT) shares were higher over 1% on Wednesday after the company said that it is expanding its public cloud management platform Red Hat CloudForms 4.1. The company said the CloudForms 4.1 now supports greater choice and flexibility for customers who want to run hybrid cloud workloads on Alphabet’s (GOOG) Google Cloud Platform, Microsoft’s (MSFT) Azure or Amazon’s (AMZN) Web Services.
The stock is up 0.43% or $0.31 after the news, hitting $73.24 per share. About 2.07M shares traded hands or 35.29% up from the average. Red Hat Inc (NYSE:RHT) has declined 13.05% since November 20, 2015 and is downtrending. It has underperformed by 10.51% the S&P500.
Red Hat, Inc. provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage technologies to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise Linux, an operating system platform that runs on hardware for use in physical, virtual, container, and cloud environments; Red Hat Satellite, a system management offering that helps to deploy and manage Red Hat infrastructure across physical and virtual servers, and cloud environments; and Red Hat Enterprise Virtualization, a software solution that allows customers to utilize and manage a common hardware infrastructure to run multiple operating systems and applications.
The company offers application development-related and other technology solutions, such as Red Hat JBoss Middleware, a solution for developing, deploying, and managing applications, as well as integrating applications, data, and devices along with business processes automation; Red Hat cloud offerings, a software solution that enables customers to build and manage various cloud computing environments; Red Hat Mobile, a software development platform that enables customers to develop, integrate, deploy, and manage mobile applications for enterprises; and Red Hat Storage, a software solution that enables customers to treat physical server storage as a scalable, shared, centrally-managed pool of virtual storage and to manage large, unstructured, or semi-structured data in physical, virtual, and cloud environments. It also provides consulting, support, and training services; and real-time operating system, distributed computing, directory services, and user authentication. The company was formerly known as Red Hat Software, Inc. and changed its name to Red Hat, Inc. in June 1999. Red Hat, Inc. was founded in 1993 and is headquartered in Raleigh, North Carolina.
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