Pandora, PayPal, Visa, and Other Stocks in Spotlight on Friday

Proofpoint Soars on Earnings Beat

Proofpoint Inc (NASDAQ:PFPT) has gained over 10% in morning trading after the company’s second-quarter results soundly beat analysts’ estimates. During the time period, Proofpoint earned $0.06 per share on sales of $89.9 million, beating the consensus by $0.13 per share and $5.68 million, respectively. Revenue jumped by 41.5% year-over-year, powered by billings growth of 34% year-over-year and robust renewal and add-on activity. Full year 2016 revenue is expected to come in at $361.5 million to $363.5 million and adjusted EPS is expected between $0.06 and $0.10. The number of funds tracked by us with holdings in Proofpoint Inc (NASDAQ:PFPT) fell by eight quarter-over-quarter to 22 at the end of March.

Schlumberger Rallies

Despite crude futures falling by another percent today, oil service giant Schlumberger Limited. (NYSE:SLB) shares are in the green largely on the back of a solid second quarter. For the three months ended June 30, Schlumberger earned $0.23 per share on sales of $7.2 billion, beating the average analyst estimates by $0.02 per share and $70 million, respectively. Cash flow from operations came in at $1.6 billion, while free cash flow was $0.9 billion. Management thinks that the company has reached “the bottom of the cycle” and is actively shifting its “focus to recover the temporary pricing concessions that have been made, and to renegotiate contracts with limited promise of longer-term financial viability”. A total of 56 funds owned shares of Schlumberger Limited. (NYSE:SLB) at the end of March, up by five funds from the previous quarter.

Visa Profit Ahead of Expectations

Visa Inc (NYSE:V) earned $0.69 per share on sales of $3.63 billion for its fiscal third quarter, beating the average net income estimate by $0.03 per share, but missing the top-line consensus by $20 million. Overall, revenue rose by 3.1% year-over-year as total number of processed transactions jumped by 10% 19.8 billion. Management sees adjusted sales growth of 7-8% for the fourth quarter and the company’s board authorized a new $5-billion share repurchase program. At the end of the first quarter, 106 investors tracked by Insider Monkey had a bullish position in Visa Inc (NYSE:V).

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