Yahoo Finance Today’s Research Reports on Stocks to Watch: Pandora and Sirius XM Holdings
NEW YORK, NY / ACCESSWIRE / February 2, 2018 / Pandora was one of the best performing stocks in the market on Thursday after announcing job cuts that had many on Wall Street thinking it could be setting the stage for a buyout. Shares of Sirius were flat as there was no news other than the company reporting earnings earlier in the week that were in-line.
RDI Initiates Coverage on:
Pandora Media, Inc.
https://rdinvesting.com/news/?ticker=P
Sirius XM Holdings Inc.
https://rdinvesting.com/news/?ticker=SIRI
Pandora Media’s shares gained 7.43% yesterday on about 17.1 million shares traded. The stock was one of the biggest gainers on the NYSE. The streaming music company announced this week that it will be cutting about 5% of its workforce to save costs. The cuts would help the company see annual savings of about $45 million to adjusted earnings before interest, taxes, depreciation, and amortization. The company said it would use the savings to reinvest towards growing in ad tech and non-music content. Pandora has 2,488 employees according to Thomson Reuters. The company stated, "The redesign shifts resources to focus on ad-tech and audience development efforts...." Pandora also revealed that it expects operating expenses, excluding subscription commissions to be a lower percentage of revenue for full year 2018 vis-à-vis 2017. Wall Street seemed excited over the news as it could be the company inching closer to being a buyout candidate.
Access RDI’s Pandora Media, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=P
Sirius XM Holdings Inc. shares closed flat on Thursday on lackluster trading volume compared to usual. It was earlier in the week that the satellite radio company announced its fourth quarter financial results and revealed a loss of $37 million. In the year ago period the company had a profit. Earnings, adjusted for pretax expenses as well as non-recurring costs, were reported at 5 cents per share. Analysts had been waiting for EPS of 5 cents so the result was in-line. Revenue of $1.4 billion was also in-line with what analysts had been expecting. For the full year, the company reported a profit of 14 cents a share with revenue of $5.43 billion. The company's outlook for the full year is $5.7 billion. Shares have been gaining speed since 2018 started with the stock rising 14%. In the last twelve months shares have gained 28%.
Access RDI’s Sirius XM Holdings Inc. Research Report at:
https://rdinvesting.com/news/?ticker=SIRI
Our Actionable Research on Pandora Media, Inc. (NYSE: P) and Sirius XM Holdings Inc. (NASDAQ: SIRI) can be downloaded free of charge at Research Driven Investing.
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