[mikegi]

Hmmm, resignation of CFO followed by restatement of years of "earnings". Stock is down 21%.

[NavySEAL F-16]

The stock is down by 4+ points, with 34 m shares trading. A lot of shorts out today!

[MeneMeneTekelUpharsin]

Check out Mirant (mirkq). Also, Harken (hec). One penny stock is as good as another :-D.

[adam_az]

This isnt' that big a deal.

Red Hat, which announced its first quarter results last month, now expects to revise its revenue to a range of $41.2 million to $41.7 million. The company had previously reported first quarter revenue of $41.6 million.

The company's first quarter net income, meanwhile, is expected to range between $10.3 million and $10.7 million. Previously, the company announced first quarter net income of $10.7 million.

For fiscal 2004, the company expects to restate its revenue somewhere between $123.8 million and $124.8 million, compared with its previously reported $126.1 million. Red Hat is also lowering its net income to a range of $13.2 million to $13.7 million. The company previously announced its net income would reach $14 million.

Red Hat also expects to lower its fiscal 2003 revenue to around $89.7 million to $90.3 million, compared with its previously announced $90.9 million. And the company's net loss for the year is now expected to be in the range of $6.9 million to $7.2 million, compared to the previously stated loss of $6.6 million.

[Golden Eagle]

The supposed prime example of open source commercial viability looks like nothing but a house of cards. The SEC investigation will hopefully be deep, as it should be of anyone pushing a new "service only" model for the US software industry, while possibly cooking their books in the back room.