Red Hat Falls After Piper Sees Billings Growth Slowdown
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Red Hat Inc., the largest seller of the open-source Linux operating system, fell after an analyst at Piper Jaffray & Co. projected a slowdown in billings growth.
The Raleigh, North Carolina-based company declined 3.4 percent to $54.43 at the close in New York, for the third-worst performance in the Standard & Poor’s 500 Index. The stock has climbed 32 percent this year.