- Sprinklr jumps on Q3 2021 results while Chewy dips 8% after earnings miss
- Ford CEO said the company is enhancing its EV production as it transitions to fully electric
- Moderna announce flu vaccine study results
Various stocks made headlines on Friday following a string of announcement and earnings release.
Sprinklr reports 32% growth in revenue
Sprinklr Inc. (NYSE: CXM) shares were up 20% on Friday morning after the company reported solid Q3 results prompting price targets to increase by analysts. CEO Ragy Thomas said that fiscal Q3 was the third quarter running of accelerating revenue growth. In addition, he explained that the company is better positioned to be a strategic partner for brands in unifying customer experiences across teams, channels, products, and markets. Revenue during the quarter was $127.1 million representing a YoY increase of 32%, while the loss was $29.2 million per $0.06 per share.
Chewy reports revenue of $2.21 billion in Q3 2021
Chewy Inc. (NYSE: CHWY) dipped 8% after the pet food retailer reported its fiscal Q3 2021 earnings results that missed analysts’ estimates despite reporting revenue that was in line with Wall Street predictions. The company had a GAAP EPS loss of $0.04, missing on analysts' loss per share of $0.04. Revenue was up 24.2% YoY to $2.21 billion, which was in line with analysts' estimates. The company issued a fiscal Q4 2021 forecast and full-year revenue guidance below Street estimates.
Ford scaling its electric vehicle manufacturing
Ford Motor Co (NYSE: F) shares were up 5% after the company's CEO James Farley stated that the automobile company would expand its electric vehicle manufacturers to compete with the likes of Tesla. In addition, the CEO said that the company would reinvent itself as it transitions to electric cars. Farley also discussed the company's 12% stake in electric van and truck manufacturer Rivian Automotive Inc. (NASDAQ: RIVN), stating the positive Initial public Offering reception creates amazing opportunities for ford. Interestingly the CEO didn't rule out the liquidation of its stake in Rivian to finance other opportunities.
Moderna releases results of mRNA-1010 flu vaccine study
Moderna Inc. (NASDAQ: MRNA) tanked 25% after the company announced the results of its mRNA-1010 flu vaccine. The study established that hemagglutination inhibition (HAI) works against four flu variants in children and adults. Already the company has finalized enrolment in the mRNA-1001 phase 2 study with the third phase in the works. The company also offered an update about its flu vaccine.