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The Best (And Worst) Technology Company Stocks In The Third Quarter Of 2019

Of the 44 technology companies on our watch list, 21 recorded gains in the price of their publicly traded shares during the third quarter of 2019 and 23 recorded price declines – a couple by significant double-digit percentages. Take a look at who were the winners and who were the losers.

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Cloudera

CEO: Martin Cole

June 28, 2019 Close: $5.26

Sept. 30, 2019 Close: $8.86

Change: +68.44%

Big data software developer Cloudera’s stock lost more than half its value in the first six months of 2019. But the stock rebounded in the third quarter, gaining back some of those losses and recording the biggest increase among the companies on our stock watch list for the quarter.

The company’s stock plummeted nearly 30 percent on June 5 when CEO Tom Reilly announced that he would retire at the end of July. Board chairman Martin Cole is serving as interim CEO until a replacement is hired.

On Jan. 3 Cloudera completed its merger with rival Hortonworks and has been working through the challenge of integrating the two companies' operations and rationalizing their combined product portfolios.

On Sept. 4, Cloudera struck a deal to acquire certain assets of Arcadia Data, a developer of cloud-native business intelligence and real-time analytics software.

For its fiscal 2020 second quarter (ended July 31), Cloudera reported revenue of $196.7 million, up 74 percent from $113.0 million in the second quarter of fiscal 2019. But the company’s net loss grew to $87.0 million from $28.9 million one year before.

 
 
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