Take a look at some of Thursday’s morning movers:
Red Hat - The software provider reported quarterly profit of 29 cents a share, two cents above estimates. The company also said it would buy back $300 million in stock. Revenue, however, did fall short of forecasts.
Best Buy - The electronics retailer earned $2.47 per share for its fourth quarter vs. estimates of $2.16, though revenues were short of analyst forecasts. Best Buy plans to close 50 big box stores this year, while announcing plans to open 100 mobile small format stand-alone stores.
Sprint Nextel - Deutsche Bank is out with positive comments on Sprint, following meetings with management it characterizes as "positive." Among the notable observations — that tests of Sprint's 4G LTE network yield comparable results to those of Verizon Communications and AT&T .
Speaking of AT&T and Verizon - R.W. Baird has downgraded both telecom stocks to "neutral" from "outperform," due to slow revenue growth, surging data traffic, and the need for additional spectrum.
Whole Foods Market - Goldman Sachs has downgraded the grocer's shares to "neutral" from "buy." Goldman's call is on a valuation basis, saying its view of the company's fundamental story is unchanged.Page 1 of 3 | Next Page