Cloudera And Hortonworks Holding On To Strong Gains

(RTTNews) - Shares of Cloudera, Inc. (CLDR) and Hortonworks, Inc. (HDP) have pulled back off their best levels of the day but continue to see substantial strength in afternoon trading on Thursday. Cloudera and Hortonworks are currently up by 9.5 percent and 9.8 percent, respectively.

The strong gains by Cloudera and Hortonworks come after the business software companies announced a definitive agreement under which the companies will combine in an all-stock merger of equals.

The companies said the merger will create the world's leading next generation data platform provider, spanning multi-cloud, on-premises and the Edge.