Pandora (P) Drops 25% After Missing EPS, Revenue, Guidance

ADP Employment Change 216K vs 218K. S&P Futures up .003% with minimal movement on the ADP in the pre-market

Pandora Media (P): EPS ($0.03) vs ($0.02), Revs $81.3 mln vs $83.02 mln estimate.

Looks like they are warning on guidance, very negative report. Stock trading off $2.40 at $12.25 in the post market. Down another $1.50 this am in the pre market. Heavy oprtion activity on the 15 calls 2 days ago.

Pandora Media downgraded to Neutral from Buy at Citigroup
Pandora Media Cut To Mkt Perform From Outperform By Raymond

Cypress Semiconductor (CY): Warned, pre-announcement, not earnings – they are halted in the post market. (IDTI) and (XLNX) are competitors. Opens back up at 4:24 est down $1.50.

CY: Lower Target – JAGNote by Wunderlich – from $22 to $20. (PCLN) Announces Proposed $875 Million Private Offering of Convertible Senior Notes and Authorization to Repurchase Shares of Common Stock. Plans To Use Offering Proceeds To Repurchase Up To $200 M In Stock. Small % of there over $30 billion market cap.

Netflix (NFLX) Explores deals with cable companies, Reuters reports. Up $5 in the pre market @ $113.5

By Tim Kelleher

Disclosures: No relevant positions

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