News Formal

Cloud stocks have drifted too high

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

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 470. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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.
Source: CNBC - 🏆 12. / 72 Read more »