Skip to main content

Market Overview

Why Cloudera Is Trading Higher Today

Share:
Why Cloudera Is Trading Higher Today

Cloudera Inc (NYSE: CLDR) stock is trading higher Monday morning after the company reported better-than-expected earnings and announced it will be acquired for $5.3 billion.

What Happened: Cloudera reported first-quarter earnings of 12 cents per share, which beat the estimate of 8 cents per share. The company reported quarterly revenue of $224.28 million, which beat the estimate of $218.83 million. 

See also: Best Investment Apps

"Our strong fiscal first quarter results reflect continued CDP momentum and customer enthusiasm for our market leading hybrid multi-cloud solution-set. We are also pleased to announce our transaction with CD&R and KKR," CEO Rob Bearden said in a statement. 

Cloudera announced that it entered into a definitive agreement to be acquired by affiliates of Clayton, Dubilier & Rice and KKR in an all-cash transaction of $5.3 billion.

The transaction is expected to close in the second half of 2021 and will result in Cloudera becoming a private company.

Related Link: Cloudera Enters into Definitive Agreement to be Acquired by Clayton, Dubilier & Rice and KKR for $5.3 Billion

Cloudera also announced that it agreed to acquire Datacoral and Cazena in two separate transactions.

CLDR Price Action: Cloudera traded as high as $19.35 and as low as $9.34 over a 52-week period. 

At last check Tuesday, the stock was up 24.11% in premarket trading at $15.96.

 

Related Articles (CLDR)

View Comments and Join the Discussion!

Posted-In: Rob Bearden why it's movingEarnings M&A News Movers Trading Ideas Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com