HomeNewsMarket Highlights: Here Are Five Stocks Making Headlines On Friday

Market Highlights: Here Are Five Stocks Making Headlines On Friday

Ruchi Gupta
  • Udemy jumps after Q3 2021 earnings beat estimates
  • UiPath and Torrid Holdings down after releasing quarterly results
  • SOC wants Bobby Kotick out of the Coca-Cola board because of sexual misconduct allegations

Various companies announced their quarterly results on Thursday, triggering stock movement, with some gaining while others lost on disappointing results.

Udemy jumps on the earnings release 

Udemy Inc. (NASDAQ: UDMY) shares jumped 2.5% on Thursday after the company released Q3 2021 revenue results that beat estimates and earnings in line with consensus estimates. In fiscal Q3, the company reported revenue growth of 9.4% YoY to $129.6 million, beating estimates by $4.01 million. In addition, non-GAAP earnings were in line with estimates at -$0.04, while GAAP loss per share was $0.25, missing estimates of a loss of $0.1 per share.

UiPath reports revenue of $220 million in Q3  

UiPath Inc. (NYSE: PATH) shares dropped 2.62% after the company reported its fiscal Q3 revenue and earnings topping estimates. The company reported revenue of $220.82 million, representing a 50% YoY increase and surpassing estimates by $11.59 million. For the third quarter, the company's non-GAAP EPS was $0.00, bettering analysts' estimates of a loss of $0.04 per share. However, GAAP EPS was a loss of $0.23 that missed estimates of a loss of $0.13 per share.

Torrid Holdings reports 13% YoY sales growth 

Torrid Holdings Inc. (NYSE: CURV) tanked 25% after the direct to consumers apparel, intimates, and accessories company announced its financial results for the third quarter. The company also revealed that CFO George Wehiltz is expected to retire by Q1 2022. Company CEO Liz Munoz stated that they are delighted with the sales and profitability reported in the quarter in which net sales were up 13% to  $306.2 million. Additionally, comp sales in Q3 2021 grew by 14% sales and profitability reported in the quarter in which net sales were up 13% to $306.2 million.

SOC doesn't want Kotick on the Coca-Cola board 

SOC Investment Group is against the reanimation of CEO Bobby Kotick as a board member at Coca-Cola Co. (NYSE: KO) following the revelation that he kept his sexual misconduct allegations at Activation Blizzard secret. In a letter to the Coca-Cola Directors and Governance Committee Chair, Elena Lagomasion, SOC demanded Kotick's removal from the board of directors. If he is renominated, the investment group will take serious action.

Omnichannel Acquisition Corp and Kin Insurance enter partnership 

Omnichannel Acquisition Corporation (NYSE: OCA) entered a business combination agreement with Kin Insurance. Following the execution of the partnership combination Total Managed Premium surged to $11.3 million, representing a year-to-date increase of 327%.