GitLab Issues Weak Earnings Forecast, Joins Stitch Fix, Albemarle And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

U.S. stock futures were lower this morning, with the Dow futures trading lower by around 50 points on Monday.

Shares of GitLab Inc. GTLB fell sharply in today’s pre-market trading after the company issued earnings guidance below estimates.

The company reported quarterly earnings of 15 cents per share which beat the analyst consensus estimate of 8 cents per share. Quarterly sales clocked in at $163.78 million, beating the analyst consensus estimate of $158.21 million, according to data from Benzinga Pro.

The company sees fiscal year 2025 earnings per share between 19 cents and 23 cents, below the 35 cents per share consensus estimate.

GitLab shares tumbled 22.4% to $57.80 in pre-market trading.

Here are some big stocks recording losses in today’s pre-market trading session.

  • Stitch Fix, Inc. SFIX shares dipped 14.5% to $2.80 in pre-market trading after the company reported worse-than-expected second-quarter financial results and issued a weak revenue forecast for FY24.
  • Semrush Holdings, Inc. SEMR fell 13.9% to $11.19 in pre-market trading after the company reported fourth-quarter financial results.
  • MicroStrategy Incorporated MSTR shares declined 11.7% to $1,178.00 in pre-market trading after the company announced a proposed private offering of $600 million of convertible senior notes.
  • Ethereal Tech PTE. Ltd FUFU shares fell 11.4% to $11.62 in pre-market trading. BitFuFu shares jumped around 106% on Monday amid volatility following the company's recent business combination with Arisz Acquisition Corp and listing on the Nasdaq.
  • CleanSpark, Inc. CLSK shares declined 9.5% to $14.90 in pre-market trading after falling around 8% on Monday.
  • Albemarle Corporation ALB shares fell 8.2% to $122.08 in pre-market trading after the company announced a proposed public offering of depositary shares.
  • Marathon Digital Holdings, Inc. MARA shares fell 7.4% to $23.82 in pre-market trading after declining around 5% on Monday.
  • Super Micro Computer, Inc. SMCI shares fell 4.5% to $1,026.09 in pre-market trading. Super Micro Computer shares jumped over 18% on Monday after the S&P Dow Jones Indices announced that the company is set to join the S&P 500.


Now Read This: Fear & Greed Index Remains In 'Extreme Greed' Zone; S&P 500 Falls From Record High

Don’t forget to check out our premarket coverage here

Market News and Data brought to you by Benzinga APIs
Posted In: NewsPenny StocksSmall CapPre-Market OutlookMarketsMoversTrading Ideasbig losersTop Losers
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!