- Tools for Investors
- Stock News
- Investing Ideas
- Econ & Policy
- Personal Finance
Shares of Pandora Media (NYSE:P) jumped more than 15.8 percent pre-market. The Internet radio company reported that is loss for the second quarter widened to $5.4 million, compared to a loss of $1.8 million a year earlier. However, revenue surged 33.5 percent to $89.4 million, beating estimates of $74.3 million. “This quarter exceeded our expectations as our strong momentum continues with both listeners and advertisers,” stated Joe Kennedy, chief executive officer. “In particular, this quarter demonstrated that our mobile monetization strategies are working.” Pandora also raised its full-year revenue forecast. Sirius XM Radio (NASDAQ:SIRI) shares are down 0.59 percent on the news.
Vera Bradley (NASDAQ:VRA) shares plunged 8 percent in trading this morning. The handbag maker announced quarterly earnings of $13.4 million (33 cents per share), compared to $13.6 million (34 cents per share) a year earlier. Analysts were expecting earnings of 35 cents per share. The company now expects to earning between $1.60 and $1.63 per share for the full year, down from the earlier forecast of $1.68 to $1.71 per share.
Don’t Miss: Start Your Own GOLD STANDARD
TiVo (NASDAQ:TIVO) shares popped 4.1 percent in early trading. The company announced that it lost $27.7 million in the second quarter, compared to a loss of $19.6 million a year earlier. Revenue increased 6.7 percent to $65.3 million, though. Analyst had expected revenue of only $54.9 million. Tom Rogers, TiVo’s CEO, said, “This was another solid quarter for TiVo as we achieved our financial guidance, gained more subscriptions within our current distribution relationships, signed new distribution deals, deepened our capabilities in the audience research business, and showcased the benefits of our R&D investment through the delivery of the TiVo experience via virtually any kind of operator infrastructure and through tablets, smartphones, and computers.
After closing 1.24 percent in the red, Facebook (NASDAQ:FB) shares are recovering a bit after receiving a rare positive note. Victor Anthony, senior analyst covering media and internet at Topeka Capital Markets, has a Buy rating on shares with a $36 price target in 18 months.
Investor Insight: Is Facebook a BUY Now?
Chuy’s Holdings Inc (NASDAQ:CHUY) announced on Wednesday a surge in profit during its Q2, assisted by a rise in revenues. The company’s earnings for the quarter reached the Street’s estimates, as revenues topped expectations. Net income to common shares for Q2 was $31,000 or $0.15 per share, which is up from $8,000 or $0.04 per share during the previous year. Shares of Chuy’s Holdings Inc are trading 1.4% higher today.
Don’t Miss: Time Warner Gears Up to Face Google.
Acme Packet, Inc. (NASDAQ:APKT), which is a global leader in session delivery networks, recently announced that it was chosen by IBBS to perform its voice service infrastructure upgrade. Acme’s Net-Net Session Director is to assist IBBS in boosting security, availability, and scalability of its wholesale residential division by seamlessly integrating with existing voice infrastructure technologies. “Service agility and reliability are paramount in the wholesale voice services market,” stated Mark Hayes, Vice President of CLEC operations at IBBS. Shares of Acme Packet, Inc. are trading 3.5% lower today.
Sarepta Therapeutics Inc (NASDAQ:SRPT): Justin Trovillion, who is one of 12 patients chosen nationwide for a clinical trial of Sarepta Therapeutics’ (SRPT) Eteplirsen drug for Duchenne Muscular Dystrophy, showed increased energy and quality of life after treatment, according to his mother as reported by a local Missouri affiliate of CBS News, KFVS. The Fly mentions that shares of Sarepta have risen nearly 14 percent to $14.30 in premarket trading. Shares of Sarepta Therapeutics Inc are trading 18.65% higher today.
LyondellBasell Industries NV (NYSE:LYB) is to replace Sears Holdings Corp. in the S&P 500 index following market close on Sept. 4, S&P Dow Jones Indices LLC stated. The change comes as Sears has struggled for years and last year revealed its intentions to sell a small number of stores and close over 100 others as an attempt to turn around a long stretch of falling same-store sales. S&P Dow Jones Indices, a McGraw-Hill Cos. (NYSE:MHP) business, stated that the retailer was no longer considered representative of the index. The company’s shares had fallen 3.1 percent after hours at $55.68. Shares of LyondellBasell Industries NV are trading 4.44% higher today.
EMC Corporation (NYSE:EMC) used today to announce the recipients of the third annual EMC® Journey to the Cloud Awards. These prestigious awards recognize two premier customers, a distinguished partner and an exceptional individual who are pushing innovation, business value, and performance via virtualization as the transformational pillar to the move to cloud computing.The 2012 EMC Journey to the Cloud Award winners are the University of Florida, Williams & Fudge, Inc., Secure-24, Inc., and Todd Rorie with the Metropolitan Government of Nashville and Davidson County, Tennessee. Shares of Piedmont Natural Gas Company Inc. are trading 1.01% lower today.
Barclays (NYSE:BCS) named Antony Jenkins as its new CEO, replacing Bob Diamond who resigned from the Libor scandal. Jenkins currently runs the firm’s retail and business banking operations. The announcement comes one day after Barclays said the U.K.’s Serious Fraud Office is investigating payments made during 2008′s Middle East capital raising.
Don’t Miss: Time Warner Gears Up to Face Google.
Intel (NASDAQ:INTC) announced details about its wireless charging technology for notebooks and mobile devices. It will require a “charging mat” (similar to electric toothbrushes) and works by placing two devices near each other and running the requisite software. According to Intel, its technology can have an ultrabook completely charge a smartphone in an hour.
Scotiabank (NYSE:BNS) will acquire ING’s (NYSE:ING) online bank for $3.16 billion. The deal will give the Dutch company an after-tax gain of $1.4 billion. To fund its purchase, Scotiabank will undergo a 29 million share secondary offering at C$52 each. For ING, the sale comes while selling its Asian insurance operations and continues repaying its 2008 bailout.
AMR (AAMRQ.PK) is negotiating to receive equity financing of $1 billion to $2 billion from a group of distressed debt funds that includes JPMorgan Securities (NYSE:JPM); it currently holds more than $600 million of the company’s bonds. With the money, it could help AMR leave bankruptcy protection, placing it in stronger position while negotiating a possible US Airways (NYSE:LCC) merger.
Louis Freeh, MF Global’s (MFGLQ.PK) parent company trustee, asked on Wednesday for the firm’s other U.S. and U.K.’s bankruptcy administrators to come to a “global resolution” with him over getting money back for creditors and clients as opposed to going through expensive and lengthy litigation.
Investing Insights: Start Your Own GOLD STANDARD.
Bank of America Corporation (NYSE:BAC): Five of the largest lenders in the country have provided $10.6 billion in relief beneath a settlement regarding foreclosure abuses, including the reduction of struggling homeowners’ mortgage balances by $1.3 billion, according to the Wall Street Journal. These banks are are Bank of America (NYSE:BAC), Wells Fargo & Co. (NYSE:WFC), JPMorgan Chase (NYSE:JPM), Citigroup (NYSE:C) and Ally Financial. Shares of Bank of America Corporation are trading 1.25% lower today.
Ciena (NASDAQ:CIEN), a maker of communications-network equipment, fell up to 13 percent in early trading following reports of a wider-than-projected loss and a forecast of lower revenue than analysts had estimated. With the exclusion of restructuring expenses and other items, the Q3 loss was 4 cents pershare, Linthicum, Maryland- based Ciena claimed today in a statement. Analysts estimated a 2-cent loss on average, according to data compiled by Bloomberg, and Ciena showed an adjusted profit of 8 cents a share the previous year.
Toyota Motor Corporation (NYSE:TM): Obama administration officials highlighted the goal of boosting the average fuel efficiency of new cars and light trucks to 54.5 miles per gallon of gasoline by 2025. The auto industry does not face the challenge of inventing technology or materials that can do that. The challenge is convincing consumers to pay the higher price for those changes. The Obama administration estimates will only be at $1,800 a vehicle by 2025, reports the Wall Street Journal. Shares of Toyota Motor Corporation are trading 0.98% lower today.
Sirius XM Radio (NYSE:SIRI): It appears as if the two years in America’s media capital rubbed off on LaDainian Tomlinson, who is two months removed from his official retirement as the NFL’s fifth-leading rusher and his final two season being with the Jets, LT moves into the next phase of his life as a large number of his peers did into the broadcasting business. The 2006 MVP is to make his debut as a Sirius XM Radio analyst on Friday by hosting In the Endzone with LT, which is a fantasy football-oriented show that is scheduled to air on Wednesday nights during the season on Sirius’ fantasy channel.
Apple Inc. (NASDAQ:AAPL): After reports suggesting that Apple and Qualcomm (NASDAQ:QCOM) have both been rebuffed as attempts to invest in Taiwan Semiconductor Manufacturing Company (NYSE:TSM), a Digitimes Research analyst has agreed with that supposed choice, stating that TSMC accepting such a strategic investment would place its trade secrets at risk. Shares of Apple Inc. are trading 0.83% lower today.
Don’t Miss: Is Samsung BENEFITING From LOSS to Apple?
Yelp Inc’s (NYSE:YELP) early supporters apparently continue to possess a high opinion of the online business review service, which is a relief to Wall Street’s, after insiders at numerous other Internet companies dropped some of their shares at the first opportunity. A Wednesday increase of over 22 percent in Yelp’s stock price showed that the company’s major shareholders have held on to their stakes instead of seizing on a chance to reap the gains which have accumulated from investments made prior to the 8-year-old service’s going public in early March. The first selling window for Yelp’s insiders opened Wednesday with the expiration of a rule that required them to hold on to their stock for 180 days following the company’s completion of its initial public offering. Shares of Yelp Inc are trading 2.68% lower today.
Don’t Miss: Is YELP Escaping Facebook’s BLACKHOLE?
BP Prudhoe Bay Royalty Trust (NYSE:BPT) gapped open lower on Wednesday and has continued losing ground in early trade. Shares have currently fallen 10.03 at $83.43 on above average volume. BP Prudhoe Bay Royalty Trust has sharply fallen for the past week and a half and has dropped to its second consecutive new low for the year. Shares of BP Prudhoe Bay Royalty Trust are trading 16.46% higher today.
TiVo Inc. (NASDAQ:TIVO) has announced a new accessory to its DVRs allowing users watch shows on their iPad, iPhone, or iPod Touch. The TiVo Stream is able to display TiVo recordings on any networked iOS device, and is able to even transfer recordings to an iOS device so one can watch it later. Shares of TiVo Inc. are trading 3.63% lower today.
Ciena Corporation (NASDAQ:CIEN) sees its Q4 adjusted operating expense in the low $180 million range. Shares of Ciena Corporation are trading 17.58% lower today.
Microsoft (NYSE:MSFT): Following its failure to gain significant market share with tablets running on Google Inc.’s Android operating system, Samsung Electronics Co. currently bets on devices rinning Microsoft Corp.’s Windows.
Don’t Miss: Should Rivals Run SCARED From the iPad Mini?
Shares of Pandora Media (NYSE:P) were up more than 14 percent at close today. The Internet radio company reported that is loss for the second quarter widened to $5.4 million, compared to a loss of $1.8 million a year earlier. However, revenue surged 33.5 percent to $89.4 million, beating estimates of $74.3 million. “This quarter exceeded our expectations as our strong momentum continues with both listeners and advertisers,” stated Joe Kennedy, chief executive officer. “In particular, this quarter demonstrated that our mobile monetization strategies are working.” Pandora also raised its full-year revenue forecast. Sirius XM Radio (NASDAQ:SIRI) shares traded slightly lower on the news.
Limited Brands (NYSE:LTD) shares closed the day up 0.27 percent after reporting better-than-expected same-store sales for August. The company, which owns Victoria’s Secret and Bath & Body Works, saw same-store sales increase 8 percent, well above expectations of 4.2 percent.
Don’t Miss: Is Facebook’s Stock a Buy at Today’s Price?
TiVo (NASDAQ:TIVO) shares fell 3.42 percent by close today. The company announced that it lost $27.7 million in the second quarter, compared to a loss of $19.6 million a year earlier. Revenue increased 6.7 percent to $65.3 million, though. Analyst had expected revenue of only $54.9 million. Tom Rogers, TiVo’s CEO, said, “This was another solid quarter for TiVo as we achieved our financial guidance, gained more subscriptions within our current distribution relationships, signed new distribution deals, deepened our capabilities in the audience research business, and showcased the benefits of our R&D investment through the delivery of the TiVo experience via virtually any kind of operator infrastructure and through tablets, smartphones, and computers.
Shares of Gap (NYSE:GPS) popped 2.67 percent on Thursday. The clothing retailer announced a net sales increase of 9 percent for August, compared to a year earlier. Reuters reports, “Net sales for the four-week period were $1.2 billion compared with net sales of $1.1 billion for the four-week period ended August 27, 2011. The company’s comparable sales for August 2012 rose 9 percent compared with a 6 percent decrease for August 2011.”
Investor Insight: Start Your Own GOLD STANDARD
Don't miss one of the biggest bull markets in history! Covers Gold, Silver, Gold & Silver stocks, and miners.
There's always a bull market in some sector! Find the best opportunities in commodities.