12:12 PM EDT, 04/22/2024 (MT Newswires) -- (Updates with Q1 financial outlook and chief product officer departure. Further updates with stock price movement in the headline and first paragraph)

Informatica ( INFA ) shares were down 8% in recent Monday trading after the company said it was not "currently engaged" in takeover talks.

The Wall Street Journal reported late Sunday, citing unnamed sources familiar with the matter, that talks between the company and Salesforce ( CRM ) had failed.

Informatica ( INFA ) on Monday did not mention the latest Journal report, but refuted the paper's initial story on April 12 that the companies were in advanced merger talks.

"Although Informatica's ( INFA ) policy is not to comment on market rumors or media speculation, the company announced that it is not currently engaged in any discussions to be acquired," Informatica ( INFA ) said in a statement.

The company also updated its Q1 financial outlook Monday and said it expects GAAP total revenue, subscription annual recurring revenue, cloud subscription annual recurring revenue, and non-GAAP operating income to be within the upper half of the guidance ranges in February.

The Q1 guidance provided in February was for 2024 GAAP total revenue of $375 million to $395 million, subscription ARR of $1.14 billion to $1.16 billion; cloud subscription ARR of $645 million to $655 million; and non-GAAP operating income of $97 million to $117 million.

Informatica ( INFA ) also said Monday that Chief Product Officer Jitesh Ghai is resigning to pursue an executive opportunity at another company.