News Formal

Cloud stocks have drifted too high

  • 📰 Breakingviews
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Software as a service deserves some of its hype but plunging share prices of Cloudera and Pivotal show how a misstep can turn into a disaster. rob_cyran

On June 5, Cloudera said Chief Executive Tom Reilly would step down and be replaced, on an interim basis, by Chairman Martin Cole.

The cloud software firm estimated revenue would be $180 million to $183 million in the third quarter. Analysts had predicted $203 million of revenue, according to I/B/E/S estimates from Refinitiv. The company’s stock fell nearly 40% in early morning trading on June 6. On June 4, Pivotal Software lowered its full year revenue guidance to between $756 million and $767 million. Analysts had predicted $803 million, according to Refinitiv. The company’s stock declined over 40% on June 5.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 470. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Salesforce chart looks vulnerable ahead of earnings, trader saysTraders are 'rolling' down their bets on cloud stock Salesforce.com to more conservative levels ahead of earnings, options expert Dan Nathan says.
La source: CNBC - 🏆 12. / 72 Lire la suite »