DLocal nabs MercadoLibre veteran as co-CEO, stock surges

Shares of financial-technology company DLocal Ltd. DLO were surging about 30% higher in after-hours trading Tuesday after the company named Pedro Arnt its co-chief executive. Arnt previously worked as the chief financial officer at Latin American e-commerce giant MercadoLibre Inc. MELI. “We view the onboarding of Arnt, a widely respected payments leader, as a positive and a steady hand on the DLO tiller,” Barclays analyst John Coffey wrote. Additionally, Uruguay-based DLocal reported better-than-expected second-quarter financial results, including GAAP earnings per share of 15 cents, up from 10 cents a year before. The…