Mid-Day Radar Movers: Pandora PLUNGES as Apple Takes Aim, Smith & Wesson SURGES
Shares of Pandora Media (NYSE:P) are now down over 18 percent! The WSJ reports that Apple (NASDAQ:AAPL) is in discussions to license music in order to create a custom-radio service similar to Pandora. The service would work on iGadgets such as the iPhone, iPad and Mac computers.
Smith & Wesson Holding (NASDAQ:SWHC) shares are now up 14 percent. The gun maker reported that first quarter net income from continuing operations increased to $18.9 million (28 cents per share), compared to $2.3 million (4 cents per share) a year earlier. Revenue also jumped 48 percent to $136 million. Competitor Sturm Ruger (NYSE:RGR) also traded higher on the news.
Don’t Miss: Is Apple’s Stock a BUY at Today’s Price?
Amazon.Com (NASDAQ:AMZN) shares continue to make new all-time highs, climbing more than 3 percent mid-day. Yesterday, the world’s largest online retailer unveiled its new line up of Kindles, including the Kindle Fire HD. The premium tablet features an 8.9-inch screen and will be priced at $299.
Mattress Firm Holding (NASDAQ:MFRM) are recovering after shares fell almost 4 percent this morning. The company announced better-than-expected earnings of 42 cents per share, but missed on revenue. Net sales for the second quarter increased 45.6 percent to $262 million, compared to $179.9 million a year earlier. It also lowered its outlook, disappointing many investors.
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