Apple Inc. (NASDAQ:AAPL) Badly Hurts Pandora Media Inc (NYSE:P) And Audience Inc (NASDAQ:ADNC)

Stocks

Wall Street opened flat today as investors evaluated the chances a lower-than-predicted U.S. employment data will stimulate the Federal Reserve to set another round of economic stimulus. In a broadly weak economic report, U.S. employers were able to hire 96,000 workers in August as manufacturers reduced their payrolls and government continued to drop staff.

 

Intel Corporation (NASDAQ:INTC) is active but declined sharply today after the chip-maker anticipating revenue that for the third-quarter of 2012 that was lower than the Company’s earlier forecast as a result of lower than projected demand in a difficult global economic situation. The company now predicts sales in a range of  $13.2 billion, plus or minus $300 million, versus the prior outlook in a range of $13.8 billion to $14.8 billion.

 

Pandora Media Inc (NYSE:P) gapped down today and lost almost 18 percent in early trading after the Wall Street Journal reported that Apple Inc. (NASDAQ:AAPL) is in discussions to licence music for a similar radio service. The share price of AAPL recently hit new high.

 

Audience Inc (NASDAQ:ADNC) tumbled to an all-time low after developed and licensed a new generation of processor IP for use in Apple phones. But Audience declared after the close of business yesterday that it now thinks that the chips may not be used in the most recent iPhone, nor is it aware of any intended changes related to their use in prior generation phones. The company also stated that it currently anticipates to report third quarter non-GAAP EPS in a range of $0.14 to $0.18.

 

On the upside, shares of Mechel OAO (NYSE:MTL) and Green Mountain Coffee Roasters Inc.(NASDAQ:GMCR) are gaining sharp. Lazard Capital initiated coverage on shares of Green Mountain, setting a buy rating and a $39.00 target price on the stock.

 

In the banking sector, Citigroup Inc. (NYSE:C) shares are rising fast after a news that Citi and Goldman Sachs Group Inc. are providing $967 million of securities connected to office buildings, shopping malls and hotels, said Bloomberg citing anonymous sources.


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