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CLDR

Cloudera

$7.00

-0.015 (-0.21%)

, IEP

Icahn Enterprises

$73.02

-0.13 (-0.18%)

07:06
08/12/19
08/12
07:06
08/12/19
07:06

Cloudera in standstill pact with Carl Ichan, to add 2 representatives to board

Cloudera (CLDR) announced that it has reached a voting and standstill agreement with Carl C. Icahn and certain of his affiliated entities regarding, among other things, the membership and composition of the company's board of directors and its committees. Based on the Icahn Group's Schedule 13D filings, the company believes the Icahn Group beneficially owns 50,343,460 shares, representing approximately 18.36% of the company's outstanding common stock. Under the terms of the agreement, Cloudera has agreed to appoint Nicholas Graziano and Jesse Lynn, both of whom are employees of Icahn Enterprises (IEP), to the company's board of directors, effective immediately. Cloudera, which has a classified board, will appoint Messrs. Graziano and Lynn as Class I directors whose terms expire at the company's 2021 annual meeting. Cloudera will also expand the size of its board to 10, and has agreed to limit the size of its board to 10 for the term of the agreement, though the company is permitted to increase the size of the Board to 11 to add the company's new CEO to the board upon his or her hiring. Cloudera has also agreed to appoint Graziano to the Mergers & Acquisitions Committee of the board and Lynn to the CEO Search Committee of the board. Under the terms of the Agreement, the Icahn Group has agreed not to nominate any directors at the company's 2020 annual meeting of stockholders, to vote all shares of the company's common stock beneficially owned by the Icahn Group in favor of the company's director nominees, and vote in favor of the board's recommendation to ratify the appointment of the company's independent auditor at the annual meeting of stockholders in 2020. The Icahn Group will also limit its beneficial ownership of Cloudera securities to 20% of outstanding common stock and abide by customary standstill provisions and voting commitments.

CLDR

Cloudera

$7.00

-0.015 (-0.21%)

IEP

Icahn Enterprises

$73.02

-0.13 (-0.18%)

  • 10

    Sep

CLDR Cloudera
$7.00

-0.015 (-0.21%)

06/06/19
06/06/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Qorvo (QRVO) downgraded to Equal Weight from Overweight at Barclays with analyst Blayne Curtis citing the company's higher relative valuation, concerns of increased radio frequency competition, and potential further impacts from the trade war for the downgrade. 2. Spirit Airlines (SAVE) downgraded to Neutral from Buy at Goldman Sachs with analyst Catherine O'Brien saying there is downside risk to the consensus earnings forecasts for Spirit while United's estimates have appropriately incorporated tougher second half 2019 comparables. 3. Orange SA (ORAN) downgraded to Equal Weight from Overweight at Morgan Stanley. 4. Cloudera (CLDR) downgraded two notches to Hold from Strong Buy at Needham, to Neutral from Buy at Citi, to Hold from Buy at Stifel, and to Market Perform from Outperform at Raymond James. 5. FuelCell (FCEL) downgraded to Perform from Outperform at Oppenheimer and to Market Perform from Outperform at Cowen. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/06/19
BOFA
06/06/19
DOWNGRADE
Target $7
BOFA
Underperform
Cloudera downgraded to Underperform from Neutral at BofA/Merrill
BofA Merrill Lynch downgraded Cloudera to Underperform from Neutral and set a $7 price target on the stock following the company's Q1 results and guidance cut.
07/01/19
MSCO
07/01/19
NO CHANGE
Target $145
MSCO
Overweight
Morgan Stanley still confident in Microsoft's Server & Tools division growth
Morgan Stanley analyst Keith Weiss noted that a key debate about Microsoft (MSFT), which has been stoked by recent weakness in other on-premise infrastructure software vendors such as Cloudera (CLDR), Pivotal Software (PVTL) and VMware (VMW), remains the durability of growth in the company's On-premise Server Products and Tools. However, he maintains confidence in the durability of low-single digital growth in the Server Products & Tools division, citing share gains across the solution portfolio. However, Weiss does note that Microsoft faces face unusually tough comparison in the division in Q4 and Q1 of FY20, leaving him to forecast year-over-year declines in these two quarters. He maintains an Overweight rating and $145 price target on Microsoft shares.
07/10/19
CHLM
07/10/19
NO CHANGE
Target $14
CHLM
Buy
Cloudera shift to open source the right move, says Craig-Hallum
Cloudera today announced that it is "100% committed to open source" as the company tries to transform itself following the merger with Hortonworks and imminent release of its Cloudera Data Platform, Craig-Hallum analyst Chad Bennett tells investors in a research note. He believes Cloudera's open source commitment was inspired by the success of Red Hat and is the right move. Red Hat offers all its software free of charge and charges its customers for consulting, support, and training services, which Cloudera will look to emulate, Bennett says. He keeps a Buy rating on Cloudera shares with a $14 price target.
IEP Icahn Enterprises
$73.02

-0.13 (-0.18%)

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MXIM

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  • 10

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GLD

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AUMN

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DMPI

DelMar Pharmaceuticals

$0.77

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RTN

Raytheon

$180.58

-6.44 (-3.44%)

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UHAL

Amerco

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NTLA

Intellia Therapeutics

$15.77

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GD

General Dynamics

$183.42

-4.19 (-2.23%)

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NVLN

Novelion Therapeutics

$0.66

-0.0523 (-7.37%)

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Stonepine Capital reports 6.1% passive stake in Novelion Therapeutics »

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LMT

Lockheed Martin

$376.85

-8.91 (-2.31%)

17:14
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ONCS

OncoSec

$1.84

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TNXP

Tonix Pharmaceuticals

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SPX

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General News
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ATIS

Attis Industries

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CVEO

Civeo

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AGO

Assured Guaranty

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RMED

Ra Medical Systems

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PBA

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APEN

Apollo Endosurgery

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General news
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LQDA

Liquidia Technologies

$5.23

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V

Visa

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QCOM

Qualcomm

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