Red Hat (RHT) Down on Q1 Earnings

Red Hat Inc RHT shares slid 3.9% to $76.67. The company reported in-line earnings for its first quarter, but exceeded analysts' sales estimates. The company issued a weak earnings forecast and announced a $1-billion buyback program. Red Hat also announced plans to acquire API management leader 3scale. Share volume was 2.6 million, better than double its all-day average