After falling sharply yesterday, crude futures are in the red again today as traders prepare for the latest Baker Hughes rig count release.
In this earnings-heavy article that covers stocks that are in the spotlight today, we take a closer look at the earnings reports of Pandora Media Inc (NYSE:P), Paypal Holdings Inc (NASDAQ:PYPL), Proofpoint Inc (NASDAQ:PFPT), Schlumberger Limited. (NYSE:SLB), and Visa Inc (NYSE:V). In addition, we are going to take a closer look at the
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Pandora Results Mixed
Pandora Media Inc (NYSE:P) shares are up by over 3% after the company reported mixed second-quarter results. Although the streaming music company beat earnings estimates with a loss of $0.12 per share versus estimates of a loss of $0.16 per share, Pandora’s revenue missed the consensus by $8.58 million with a figure of $343.02 million, but it surged by 20.1% year-over-year. Guidance was also soft, with the company projecting full-year revenue of $1.380 billion to $1.405 billion, versus estimates of $1.424 billion. Despite the soft top-line, demand for the service is still growing as total listener hours rose by 7% year-over-year to 5.66 billion. Among the funds we track, 35 funds owned $772.23 million worth of Pandora Media Inc (NYSE:P)’s stock, which accounted for 37.90% of the float on March 31, versus 48 funds and $1.03 billion, respectively, a quarter earlier.
PayPal Retreats on Results
In marked contrast to eBay’s results yesterday, Paypal Holdings Inc (NASDAQ:PYPL) shares are 7% in the red after the financial tech company reported earnings of $0.36 per share on revenue of $2.65 billion, largely in-line with the average analyst estimates of $0.36 in EPS and sales of $2.6 billion. Revenue advanced by 15.2% year-over-year as active accounts inched up 11% to 188 million and processed transactions soared 25% For the full year, the company anticipates adjusted EPS of $1.47 to $1.50. Shares could be down today because the market was expecting more growth for the full year. With ownership of 37.83 million shares, Carl Icahn’s Icahn Capital LP was a major shareholder of Paypal Holdings Inc (NASDAQ:PYPL) at the end of March.
On the next page, we examine Proofpoint, Schlumberger Limited, and Visa.