In a series of tweets, the president addressed an unusual controversy stemming from a speech Thursday that New York Fed President John Williams delivered.Marketsread more
Companies aren't waiting for the U.S.-China trade war to be resolved, says the head of the world's biggest money manager.Investingread more
Earlier, Williams said in a speech that "it's better to take preventative measures than to wait for disaster to unfold."The Fedread more
The University of Michigan's preliminary print on its consumer sentiment index ticked up to 98.4, from 98.2 in June. Economists polled by Refinitiv expected the preliminary...Economyread more
The mega-cap tech stocks that have led much of the record-long bull run have started to lose steam, but investors are still giving them the benefit of the doubt.Marketsread more
Houston, we have liftoff. Fifty years ago, man landed on the moon and McDonald's and a handful of other stocks took off into the stratosphere. Two of them have more fuel in...Trading Nationread more
Amazon's PillPack was informed this week that it will soon be cut off from patient medication data, according to people familiar with the matter.Technologyread more
An Israeli cybersecurity company has reportedly developed spyware that can scrape data from the servers of Apple, Google, Facebook, Amazon and Microsoft products.Technologyread more
House Speaker Nancy Pelosi is rejecting the White House's most recent debt ceiling proposal, Bloomberg reports.Marketsread more
The country's Revolutionary Guards say they will soon releasePoliticsread more
The U.S. stock market should move higher from near-record current levels, says the co-founder of the world's largest money manager.Marketsread more
Thus far, it's produced a lot of red ink.
Cloudera set its preliminary IPO price on Monday at $12 to $14 a share, well below half of Intel's May 2014 purchase price of $30.92.
All told, Intel invested $766.5 million in Cloudera, a stake that at the high end of the IPO range would be worth $348.2 million. Had the chipmaker just buried that cash in the S&P 500, it would now be worth about $925
Founded in 2008, Cloudera is one of several Silicon Valley companies that's commercializing an open source programming framework called Hadoop, which helps businesses process large amounts of disparate data.
Intel invested in Cloudera as part of a strategic partnership at a time when private market valuations for hot start-ups were in the stratosphere. Hortonworks, Cloudera's top competitor, went public in December
Cloudera's pricing "is largely due to Hortonworks' discounted valuation levels and growing perceived risk from public cloud players, such as Amazon and Google, " wrote Rohit Kulkarni, managing director and head of research at SharesPost.
At $14 a share, Cloudera would be worth $1.79 billion, down from $4.1 billion when Intel invested.
Cloudera is also burning cash as it ramps up spending to reach large prospective customers. While revenue in the fiscal year ended January climbed 57 percent to $261 million, the company spent over $200 million
Intel could still make money on its Cloudera bet if it holds on to its shares and the stock rallies following the offering. And while a loss of a few hundred million dollars would sink many venture funds, Intel has a healthy $17.1 billion in cash on its balance sheet.