Shares move big after closing time: GTLB, UAL, FRC
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Check the companies that make headlines after working hours.
Gitlab — Shares fell 36% after Gitlab gave a weaker-than-expected outlook. It posted fiscal 2024 revenue guidance of $529 million to $533 million in 2023, compared with expectations of $586.4 million, according to Refinitiv. Otherwise, the firm reported a hit to the top and bottom lines in its fourth-quarter results, per Refinitiv.
United Airlines — Shares fell 6.5% after United Airlines issued a first-quarter profit warning. The airline guided for an adjusted first-quarter loss of between $1.00 and 60 cents per share, according to an 8-K filing with the Securities and Exchange Commission. That compares with previous guidance of earnings of 50 cents to $1.00 per share. That’s also lower than consensus expectations of 65 cents per share, according to FactSet.
First Republic Bank — Bank shares fell 10% in extended trading, after plunging 61.8% during the regular trading session on Monday. Fear of contagion risk from Silicon Valley Bank weighed on the stock.
KeyCorp — Shares jumped 6% in after-hours trading Monday after falling more than 27% in the regular trading session. Regional banks were slammed after the collapse of Silicon Valley Bank raised fears of contagion risk, despite a plan to stop depositors from regulators.