GitLab, the software development platform, has announced that it is raising its full-year guidance for adjusted earnings and revenue following better-than-expected third-quarter results. The company now anticipates an adjusted profit of 12 to 13 cents per share, compared to its previous forecast of an adjusted loss of 5 to 8 cents per share. As a result, the stock has surged by 16% in after-hours trading, reaching $61.65.
Joann Reports Wider Loss as Sales Decline
Joann, the fabric and sewing-products retailer, recorded a larger loss in the three months ended October 28th. This was attributed to a decline of over 4% in the company’s sales. However, the adjusted loss of 21 cents per share was in line with expectations. Although Joann’s shares fell by 6.7% in after-hours trading, reaching 83 cents, the company remains optimistic about its future prospects.
Travere Therapeutics to Reduce Workforce and Focus on Promising Programs
In an effort to optimize operations and streamline resources, Travere Therapeutics has announced plans to cut its workforce by approximately 20%. The company will prioritize two ongoing programs: the development of a treatment for Berger’s disease and classical HCU. Travere expects that this strategic decision will extend its cash runway well into 2028. Following the announcement, shares of Travere rose by 7.3%, reaching $6.75 in after-hours trading.