Newell Brands (NWL): The company behind Sharpie markers, Elmer’s glue and Yankee Candle adjusted its outlook for the second half of the year, cutting its full-year forecast after the bell on Tuesday. The company lowered its full-year profit forecast to $1.56-$1.70 per share on net sales of $9.37-$9.58 billion. Newell Brands CEO Ravi Saligram wrote in the release, “While we remain enthusiastic about the back-to-school season and continue to see solid growth in the retail business, we experienced a significantly larger-than-expected pullback in retail orders and continued inflationary pressure on the consumer.”
Shares were down about 3% in after-hours trading.
GitLab (GTLB): Shares fell about 2 percent even though the software maker raised its full-year revenue forecast and beat Wall Street estimates for the second quarter. The company posted an adjusted net loss of 15 cents per share for the latest quarter, compared with 49 cents a year ago.
Revenue increased to $101 million, up 74% year over year. GitLab CEO Sid Siebrandi said in a statement: “We continue to see strong momentum in our business, and our second quarter results show that the market is embracing our One DevOps Platform leadership.”
Lowe (LOW): Lowe’s Chief Marketing Officer Marissa Thalberg has left the company as part of a broader reorganization effort at the retailer, according to CNBC. Shares initially jumped 4% in after-hours trading on the news, but later traded little changed.
Twitter (TWTR): Lawyers for Elon Musk and Twitter clashed in a Delaware Chancery Court hearing before Chancellor Kathleen McCormick over the future of Musk’s $44 billion deal to buy the social media company.
One of the items the judge considered was a request by Musk’s lawyer to delay the trial to allow time to investigate whistleblower Peter Zatko’s claims about Twitter’s “shocking” security lapses. McCormick ended the hearing Tuesday without setting a date for his decision.
Shares of Twitter rose about 1.5% in extended trading on Tuesday.