Breaking News
Mar 14, 2023
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GitLab Inc plunged 32.6% to $30.71 after the cloud computing software company estimated sharply lower revenue in 2024.
The software services provider estimated revenue to fall between $529 million and $533 million in 2024.
Revenue in the fourth quarter increased 58% to $122.9 million from $77.8 million and loss attributable to shareholders fell to $38.7 million from $45.8 million and diluted loss per share shrank to 26 cents to 32 cents a year ago.
GTLB
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Cvent Holding Corp agreed to be acquired by Blackstone controlled private equity funds for $8.50 a share or $4.6 billion of enterprise value.
CVT
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The consumer price inflation eased to 6.0% in February from 6.4% in January, the U.S. Labor Department reported Tuesday. The price increase was the smallest since September 2021.
The shelter index was the largest contributor to the overall inflation accounting for 70% of total increase in the month.
Core prices excluding food and energy accelerated to 0.5% in February from 0.4% in January and rose 5.5% on an annual basis. The energy index slowed to 5.2% in February from 8.7% in the previous month, the food index increase slowed to 9.5% from 10.1% but the shelter index jumped to 8.1% from 7.9%.
