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Stocks to Watch: RHT, PAYX, FOSL & More
29 Mar 2012 EDT - CNBC.com
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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.

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