BB - FireEye Cloudera stocks led week's top tech movers after M&A deals
Cybersecurity firm FireEye (FEYE) posted one of the largest share price declines among tech companies this week after the company announced the $1.2B separation of its brand name and software business to a Symphony Technology Group-led consortium.The separation leaves behind the Mandiant threat detection and response business, which analysts praised as the higher-growth business but worried about the low-margin nature.FEYE shares are down over 16% for the week.Cybersecurity peer Okta (OKTA) is following FireEye lower, down 14.5% with no catalyst of its own. The pullback follows last week's declines after the company reported beat-and-raise earnings but analysts questioned the lack of visibility surrounding the $6.5B acquisition of identity management for applications platform Auth0, which closed earlier last month.On the side of tech gainers, Cloudera's (CLDR) agreement to be acquired by Clayton, Dubilier & Rice and KKR for $5.3B has shares up nearly 24% for the week. BlackBerry (BB) got a fear of missing out or FOMO boost,
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FireEye, Cloudera stocks led week's top tech movers after M&A deals