Red Hat Hits New High on Solid Earnings (RHT, SBUX, DEER, BNNY)

Red Hat, Inc.(NYSE:RHT) shares soared over 18% and made multi-year high of $61.41 earlier in the session after the company reported better than estimated fourth quarter results. The company said that its net income jumped to $36 million, or 18 cents a share, from a year ago profit of $33.5 million, or 17 cents a share. On an adjusted basis, the company would have earned 29 cents a share, ahead of analysts’ estimates by 2 cents. Revenue during the quarter grew 21% to $297 million, compared to analysts’ estimates of $291.2 million.Moreover, Red Hat said it would kick off its buyback program in April, replacing a smaller $214 million one that ends this month.

Deer Consumer Products, Inc.(NASDAQ:DEER) climbed over 43% on hefty volume after the company provided solid outlook for the FY2012. The company projects to earn $1.37 to $1.42 per share on revenue of $270 million to $290 million in FY2012, ahead of analysts’ estimates of $1.30 per share on revenue of 250 million. During the latest quarter, the company earned $39.8 million, or $1.18 a share on revenue of $226.7 million, compared to a year ago profit of $30.3 million, or $0.90 per share.

Annies Inc(NYSE:BNNY) shares jumped again after surging 89% on the debut day on its IPO price of $19. The company sold 5 million shares for $19 each, above the revised range of $16 to $18 per share. The company had originally sought a range of $14 to $16. The stock made  a new high of $40 earlier in the session on solid volume. The stock has more than doubled in the first two trading sessions, what else an IPO investors need in this kind of markets?
Starbucks Corporation(NASDAQ:SBUX) shares slid 0.70% to $55.65 after surging over 55 in the past one week. The stock recently made an all-time high of $56.55. The company is spending a total of $179 million to build a new manufacturing facility in Augusta, Georgia and to expand its roasting plant in Calhoun County. The stock has shown an impressive rally in the current month after announcing its plan to launch its own single-cup coffee machine this fall catering to people who want to brew regular coffee, espresso and other coffee drinks at home.