Summary Box: Red Hat shares surge nearly 20 pct

AP News
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Posted: Mar 29, 2012 4:40 PM
Summary Box: Red Hat shares surge nearly 20 pct

TOP HAT: Red Hat shares climbed nearly 20 percent, Thursday to close at $61.43. The surge lifted Red Hat's stock to its highest level since the dot-com boom's heyday 12 years ago.

BOOTING UP: The software maker's financial results for the December-February period topped analyst estimates. Red Hat Inc. expects the robust growth to extend into the upcoming year.

THE RAINMAKER: Red Hat's operating system is emerging as a key piece of technology in "cloud computing." The catchphrase refers to keeping computer applications in far-flung data centers via the Internet instead of on individual machines in a company's own offices.