WEBVTT - Palo Alto Jumps, Ulta Beauty Mixed, Gitlab Cuts Workforce

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<v Speaker 1>The Stock Movers Report, your roundup of companies making moves

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<v Speaker 1>in the stock market, harnessing the power of Bloomberg data.

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<v Speaker 2>I'm Carol Masser along with Tim Stanevik. Though let's get

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<v Speaker 2>to some stocks on the move on this Tuesday, and uh,

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<v Speaker 2>of course with us right now is Carmen Ryanicky. She's

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<v Speaker 2>Bloomberg News stocks reporter, and she is with us. Actually,

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<v Speaker 2>you've got a more impressive title than that.

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<v Speaker 1>Nothing stocks professor.

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<v Speaker 3>Professor is the relevant one to what we're talking here today,

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<v Speaker 3>which is the stocks that are And that's against.

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<v Speaker 2>The stocks reporter because that's a that's an important title too.

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<v Speaker 4>But she's also a professor, and that's why we call

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<v Speaker 4>her doctor Ryan.

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<v Speaker 2>She wears several hats, got stuff.

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<v Speaker 4>Okay, so what's going on? What do you what do

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<v Speaker 4>you have?

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<v Speaker 3>So I'm watching Palo Alto Networks shares right now. This

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<v Speaker 3>is ticker p A n W. So the stock is

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<v Speaker 3>up about five percent right now. This is actually quite

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<v Speaker 3>off the highs that we've seen in the extended session today.

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<v Speaker 3>So it's a cybersecurity company. It reported earnings. Quarter results

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<v Speaker 3>beat expectations, and it also raised its full year forecast.

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<v Speaker 3>I think this is a really important move because we've

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<v Speaker 3>seen these sort of top cybersecurity names rally a lot

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<v Speaker 3>of me there's been a recovery in software, but Palo

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<v Speaker 3>Alto and CrowdStrike, which is also up and after hours today,

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<v Speaker 3>have just gone up exponentially. I think they're both up,

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<v Speaker 3>you know, fifty sixty percent in May alone. So seeing

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<v Speaker 3>a continuation of this rally, which has taken the stock

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<v Speaker 3>up to record highs is really important.

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<v Speaker 2>Yeah, quite a kick. Like I feel like these are

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<v Speaker 2>not the names we talk about every day, right, but

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<v Speaker 2>they have had some tremendous momentum all right, from high

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<v Speaker 2>tech to cosmetics, yeah, care and all that good stuff.

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<v Speaker 3>Another after hours mover, let's switch over to Alta, So

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<v Speaker 3>this is.

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<v Speaker 2>Technology involved in all that skincare.

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<v Speaker 3>That's true. Ticker Ulta stock is up about four point

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<v Speaker 3>seven percent right now. So the company also reported earnings.

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<v Speaker 3>It reaffirmed its comparable sales forecast for the full year.

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<v Speaker 3>It didn't want to note that this is the same

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<v Speaker 3>sales forecast at last quarter, so in March sent stock

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<v Speaker 3>down pretty considerably after they had sort of given a

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<v Speaker 3>more cautious outlook for the year. So it seems like

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<v Speaker 3>we might just be getting a little bit of a

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<v Speaker 3>relief rally here. All to stock is down twenty percent

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<v Speaker 3>or about twenty percent this year through Tuesday's.

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<v Speaker 4>Close, and thirty percent from that high back on February seven. Execondly, Yeah, yeah,

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<v Speaker 4>there was a big drop there in the.

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<v Speaker 2>Earlier part of the year, all right, So moving in

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<v Speaker 2>the after hours, so too is git lab Yeah, in

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<v Speaker 2>a big way.

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<v Speaker 3>Yeah, So this actually just had a huge reversal the stock.

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<v Speaker 3>It's GTLB is the ticker. It's down about five point

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<v Speaker 3>two percent right now. So the company reported earnings that

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<v Speaker 3>seem pretty in line. I think what the stock's really

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<v Speaker 3>reacting to right now is that the company is cutting

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<v Speaker 3>about fourteen percent of its workforce three hundred and fifty

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<v Speaker 3>rolls and exiting twenty two countries as a part of

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<v Speaker 3>a major restructuring. Usually you would see a stock go

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<v Speaker 3>up after you know, we're force Usually job cuts are

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<v Speaker 3>kind of good, they're good for the bottom line. But

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<v Speaker 3>looks like investors are not excited about this. I mean,

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<v Speaker 3>I think exiting twenty two countries, that's pretty significant.

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<v Speaker 2>Yeah, it makes you wonder why, right what? And we'll

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<v Speaker 2>look for some more maybe clarification on the call and

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<v Speaker 2>some color around. What's going on? Are you looking for that?

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<v Speaker 4>Yeah, we'll got it. We'll get it soon. Okay, I'm

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<v Speaker 4>still looking at all.

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<v Speaker 3>I mean, it just swung negative like a few minutes ago.

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<v Speaker 2>Because I'm gonna say, when we broke it, right, we

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<v Speaker 2>saw it kicked to the upside. So kind of interesting

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<v Speaker 2>to see. So we'll look for some more com Yeah.

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<v Speaker 4>From narrowing, it's just your revenue forecast second quarter. Yeah,

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<v Speaker 4>it's a let's see, uh sea's revenue one point one

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<v Speaker 4>one billion to one point one two billion, saw one

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<v Speaker 4>point one to one point one two.

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<v Speaker 3>A lot of much what it is, a lot of

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<v Speaker 3>the numbers looked okay, Yeah, so I'm wondering. Okay, so

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<v Speaker 3>we'll be keeping an eye on that one. I'm gonna

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<v Speaker 3>go listen to the call.

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<v Speaker 2>Yeah, only exitting twenty two countries a lot.

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<v Speaker 4>Yeah, sures down in the after hours now four point

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<v Speaker 4>one percent.

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<v Speaker 2>We're just making the sausage as we go.

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<v Speaker 4>Especially after hours with these companies, and even if the

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<v Speaker 4>call hasn't started.

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<v Speaker 3>Yet, you know, I know, they move quickly and you

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<v Speaker 3>never know.

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