U.S. markets opened in negative territory on Wednesday, fueled by concerns over the trade war between China and the U.S. The three major indexes dropped more than 1%.
Shares of Cloudera Inc. (CLDR, Financial) plunged on the heels of the company reporting its financial results for the fourth quarter. The company posted a net loss of 10 cents per share on revenue of $103.5 million, registering an increase of 42.1% from the prior-year quarter. Subscription revenue was $84.3 million, a 50% increase from the year-ago period. The company managed to beat earnings expectations by 13 cents and revenue estimates by $0.86 million.
Looking ahead to the first quarter, the company expects total revenue between $101 million and $102 million, growth of about 28% year over year. Subscription revenue is projected to grow 32% to range from $85 million to $86 million. It also anticipates non-GAAP net loss per share to range from 19 cents to 17 cents per share.
Gainers
- Under Armour Inc. (UAA)
- CenturyLink Inc. (CTL, Financial)
- Target Corp. (TGT, Financial)
- Celgene Corp. (CELG, Financial)
Losers
- Deere & Co. (DE, Financial)
- FedEx Corp.”‹ (FDX, Financial)
- Boeing Co. (BA, Financial)
- Nvidia Corp”‹. (NVDA, Financial)
Global markets
The main European stock markets closed mostly lower. The U.K.'s FTSE 100 gained 0.05%, France's CAC 40 retreated 0.20%, Germany's Dax fell 0.37% and Spain's Ibex 35 slid 0.38%.
In Asia, India’s BSE Sensex fell 1.05%, China's SSE Composite declined 0.18% and Hong Kong's Hang Seng plummeted 2.19%. Japan's Nikkei 225 gained 0.13%.
Disclosure: The author holds no positions in any stocks mentioned.Ă‚
