Schaeffer's Trading Floor Blog

Buzz Stocks: Pandora, Sears Holdings, Intel, and Costco

Today's stocks to watch include P, SHLD, INTC, COST, and TIVO

by 8/30/2012 8:48 AM
Stocks quoted in this article:

Markets are solidly in the red this morning, as the hopes for further stimulus diminish even while Fed Chief Ben Bernanke's speech draws closer. Meanwhile, here are some stocks to watch in the news today:

  • Earnings news: Pandora Media Inc (NYSE:P) said second-quarter revenue surged 51%, topping analysts' expectations. In response, P nudged its full-year revenue forecast modestly higher. The streaming music service also reported that listener hours are up 80% in the last 12 months (Reuters); TiVo Inc. (NASDAQ:TIVO) suffered a net loss of 23 cents per share, one penny narrower than analysts were expecting. Revenue was up 6.6% for the period. (Bloomberg)

  • It's been a long run but Sears Holdings Corporation (NASDAQ:SHLD) is losing its spot in the S&P 500 Index as of the close of trading on September 4. After 55 years with the index, the retailer is being kicked out because its public float has been below the index's required level for "an extended period of time." Taking its place will be chemical manufacturer LyondellBasell Industries NV (NYSE:LYB). (CNBC)

  • We could be one step closer to cutting the cord, as Integrated Device Technology, Inc. (NASDAQ:IDTI) is hard at work on chipsets for Intel Corporation (NASDAQ:INTC) to assist in the creation of Wireless Charging Technology. Once introduced, this would allow users to simply place their smartphone near their laptop and energy would "seamlessly and wirelessly flow" between the devices. (Technology@Intel)

  • Same-store sales numbers for August are trickling in. Thomson Reuters expects cumulative growth of 2%, down from a 4.8% increase in August 2011. Costco Wholesale Corporation (NASDAQ:COST) announced a 6% jump in its results, topping expectations for a 4.5% gain (Reuters); Limited Brands, Inc. (NYSE:LTD) said same-store sales jumped 8% during the month, easily exceeding analysts' projected 4.2% rise. (MSN Money)

  • Barclays PLC (ADR) (NYSE:BCS) has appointed a new CEO from within, naming Antony Jenkins -- head of retail and business banking operations -- to the top post. (The New York Times)

  • Finally, Taco Bell -- a division of Yum! Brands, Inc. (NYSE:YUM) -- has reportedly sold more than 200 million of its Doritos Locos Tacos, making the $1.29 item the most successful product lunch in the fast food chain's 50-year history. Taco Bell is now trying to brainstorm the next potential pairing with the popular snack food. (The Orange Country Register)


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