In the third quarter, Robinhood Markets experienced a decline in transaction revenue. Both equities transaction revenue and crypto revenue saw drops during this period. Additionally, the trading platform witnessed a 16% decrease in monthly active users compared to the previous year, failing to meet Wall Street’s estimates. Consequently, the company’s shares plummeted by 9.3% to $8.85 after-hours.
Kyndryl Raises Full-Year Targets for Cost Savings
Kyndryl, an International Business Machines spinoff, has announced elevated targets for cost savings for the full year. This decision comes as the company has made significant progress in its turnaround efforts during the second quarter. Despite a decrease in revenue, Kyndryl managed to narrow its loss in this period. As a result, the company’s shares saw a remarkable 13% increase after-hours, reaching $17.60.
Lumos Pharma Discovers Promising Treatment for Hormone Deficiency
Lumos Pharma revealed positive results regarding its hormone deficiency treatment on Tuesday. Two Phase 2 trials successfully demonstrated that Lumos Pharma’s LUM-201 treatment met all primary and secondary endpoints. These results indicate that the treatment could serve as a viable alternative to injection-based therapies for pediatric growth hormone deficiency. As a result of this exciting news, Lumos Pharma’s shares more than doubled after-hours, reaching $7.57.
