Nio, GitLab, Barclays: Trending Tickers
Chinese EV maker Nio (NIO) reported a narrower-than-expected third-quarter loss but annual sales trailed the company's targets.
GitLab (GTLB) shares climbed Tuesday morning after the software firm posted third-quarter revenue growth of 32% year-over-year. Tailwinds include GitLab's rumored partnership with Amazon Web Services (AMZN).
Barclays (BCS) shares fell on reports that one of the bank's largest shareholders Qatar Holding planned to sell over $640 million worth of stock.
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Video Transcript
SEANA SMITH: Stocks are continuing to pull back just a bit, following a down day on Monday to start the week. Investors are taking in some of the key services and labor market data being released right now. You're looking at the S&P essentially unchanged.
BRAD SMITH: Taking a look at some individual names a mixed picture for NIO, the Chinese EV maker, reported a narrower than expected loss, thanks to a record 55,000 deliveries in its third quarter. Still, NIO behind its sales goal of shipping 250,000 EVs this year. It only reached a little over 142,000 by the end of November.
SEANA SMITH: And GitLab blowing past expectations here in the third quarter, reporting a 32% surge in revenue on a year-over-year basis, as well as its first adjusted operating profit. Looking ahead, GitLab also impressing investors with its full year outlook, as the CEO saying that the company is in talks with Amazon Web Services about an integration into the Amazon Q Work assistant. And I'll actually be speaking with the CEO out of the Barclays tech conference later this week, so we'll hear more about that.
BRAD SMITH: Can't wait for that. All right, well, finally, we're also watching Barclays on news that Qatar is holding is slashing its stake in the bank, selling over $640 million worth of shares this week. It's Barclays second biggest shareholders, and the sale is expected to reduce its stake from 5.3% to 2.9%. Just last week, the Financial Times reported that Barclays is exploring an overhaul plan to drop thousands of clients, cut over $1 billion worth of costs, and boost profits.
