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July 25, 2014
13:42 EDTPPandora tumbles after guidance miss but analysts remain upbeat
Shares of music streaming company Pandora (P) are falling after the company reported a slightly higher than expected second quarter profit and in-line revenue, but the midpoint of its third quarter profit guidance came in below analysts' consensus estimate. A number of analysts recommended buying the stock on its weakness today. WHAT'S NEW: Pandora reported second quarter earnings per share of 4c, compared with analysts' consensus estimate of 3c. The company's revenue was in-line with expectations and its total listening hours rose 29% year-over-year. However, the music streaming company provided Q3 EPS guidance of 5c-8c, versus analysts' consensus outlook of 8c. Pandora, however, raised its full-year EPS guidance to 16c-19c from 14c-18c, versus the consensus outlook of 17c. ANALYST REACTION: In a note to investors, Piper Jaffray analyst James Marsh recommended that investors buy Pandora on weakness today. The company is very much on track, as it posted solid listener growth and its monetization is quickly improving, Marsh stated. Pacific Crest analyst Corey Barrett also recommended that investors buy Pandora today. The company's advertising sales per sales employee has risen in each of the past two quarters, versus the same period a year earlier, the analyst wrote. As a result, Barrett is confident that the company can increase its monetization sufficiently to meet its updated 2014 guidance. Barrett kept a $45 price target and Outperform rating on the shares. PRICE ACTION: In mid-afternoon trading, Pandora sank $3.50, or 12%, to $25.
News For P From The Last 14 Days
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November 27, 2015
06:14 EDTPPandora implied volatility of 107 at upper end of index mean range
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November 25, 2015
16:01 EDTPOptions Update; November 25, 2015
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12:14 EDTPOn The Fly: Top stock stories at midday
Stocks began the session in positive territory and have remained there throughout the morning, moving in a narrow range on fairly light volume as expected on a get-away day for many investors ahead of Thanksgiving. The tepid trading comes amid a packed economic calendar, with a number of reports that are usually scheduled for release on other days of the week being accelerated due to the holiday. ECONOMIC EVENTS: In the U.S., there was a very busy slate of economic data as several days of reports were crammed into a single morning. Jobless claims fell to 260,000 in the week ended November 21, versus expectations for 270,000 first-time claims. Personal income rose 0.4% in October, matching expectations, while spending rose 0.1%, versus expectations for spending to rise 0.3%. Durable goods orders were up 3.0% last month, versus expectations of up 1.7%. When transportation items are removed, the core reading was up 0.5%, versus expectations for it to be up 0.3%. The FHFA home price index rose 0.8% in September to a reading of 226.5. Markit's services index improved to 56.5 in the flash reading for November, topping the 55.1 forecast. New home sales rose 10.7% to a 495,000 rate in October. Consumer sentiment rose to 91.3 in the final November print of the University of Michigan survey, up from October's 90.0 reading but down from the preliminary 93.1 November reading. COMPANY NEWS: Shares of HP Inc. (HPQ) and HP Enterprise (HPE) moved in opposite directions following their last combined earnings report. HP Inc., which was downgraded by Needham analyst David Rold to Hold following last night report, fell 13% near midday. Meanwhile, HP Enterprise, which announced an Azure cloud partnership with Microsoft (MSFT) in addition to its results, gained about 3%... Deere (DE), which reported better than expected earnings and issued a 2016 sales outlook that met expectations, gained nearly 4% following its quarterly report. MAJOR MOVERS: Among the notable gainers was Pandora (P), which rallied almost 5% after it said that the Register of Copyrights ruled that it couldn't offer an opinion to counter the current "non-differentiated rate structure of licensors." Also higher was Guess (GES), which gained 8% after it reported quarterly earnings and provided guidance. Among the noteworthy losers were SunEdison (SUNE) and TerraForm Power (TERP), which fell 14% and 15%, respectively, after an analyst from UBS downgraded both companies' stocks, saying they are facing considerable risk after personnel changes at TerraForm. Also lower was PTC Therapeutics (PTCT), which lost 5% after Jefferies analyst Gena Wang downgraded its shares to Underperform, saying yesterday's FDA panel for BioMarin's (BMRN) competing muscular dystrophy drug is a negative for PTC. Following yesterday's FDA meeting, BioMarin slipped fractionally and Sarepta (SRPT), which is also competing in the same therapeutic area, was flat. INDEXES: Near midday, the Dow was up 23.48, or 0.13%, to 17,835.67, the Nasdaq was up 19.14, or 0.38%, to 5,121.94, and the S&P 500 was up 2.27, or 0.11%, to 2,091.41.
10:33 EDTPPandora has a potential bullish price pattern, levels to watch
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09:24 EDTPOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Deere (DE), up 4.7%... TiVo (TIVO), up 4.6%... HP Enterprise (HPE), up 2.9%... Qunar (QUNR), up 2.7%... Guess (GES), up 7%. ALSO HIGHER: Aduro BioTech (ADRO), up 6.1% after confirming that all clinical trials are continuing unaltered as planned... American Capital (ACAS), up 6.9% after announcing strategic review of alternatives and expanding its share buyback program to $1B... Pandora (P), up 5.3% after reporting the opinion of the Register of Copyrights. DOWN AFTER EARNINGS: 21Vianet (VNET), down 2.3%... HP Inc. (HPQ), down 9.1%. ALSO LOWER: TerraForm Power (TERP), down 6.1% after being downgraded to Sell from Neutral at UBS... Sunedison (SUNE), down 6.6% after being downgraded to Sell from Neutral at UBS... BioMarin (BMRN), down 2.9% after FDA panel meeting about its New Drug Application for Kyndrisa.
05:18 EDTPPandora reports opinion of Register of Copyrights
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November 19, 2015
10:09 EDTPPandora mentioned positively Detwiler Fenton
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05:23 EDTPPandora implied volatility of 107 at upper end of index mean range
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November 17, 2015
08:16 EDTPPandora acquisitions suggest core business weak, says Pacific Crest
Pacific Crest believes that Pandora's recent acquisitions indicate that its core business has " impaired operational leverage." Additionally, the firm does not think the acquisitions improve the company's long-term profit potential. It does not recommend owning the stock.
07:43 EDTPPandora acquisition an attempt to expand platform, says Canaccord
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07:25 EDTPPandora transaction positive, says Stifel
After Pandora announced that it had acquired key tech assets of Rdio and would launch an on-demand service, Stifel says that Pandora obtained the high quality assets at a lower price than it had previously thought possible. The firm thinks that Pandora's high quality "music discovery" will enable it to differentiate its on-demand product from that of the competition. Stifel keeps a $27 price target and Buy rating on the shares.
05:22 EDTPStocks with implied volatility movement; P PFE
Stocks with implied volatility movement; Pandora (P) 104, Pfizer (PFE) 29 according to iVolatility.
November 16, 2015
19:50 EDTPPandora management to meet with Northland
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16:09 EDTPPandora to acquire key assets from Rdio for $75M in cash
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10:43 EDTPOptions with increasing implied volatility
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09:44 EDTPPandora management to meet with JPMorgan
Meeting to be held in Toronto on November 17 hosted by JPMorgan.
07:50 EDTPUBS to hold a conference
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