Pandora Media Inc. (NASDAQ: P) shares rallied on Friday after the Internet radio company, following closing bell on Thursday, reported narrow-than-expected loss in the fiscal fourth quarter and revenue which beat analysts’ consensus estimate. The Company also provided upbeat guidance on the fiscal first quarter. Separately, Company’s Chief Executive, President and Chairman, Joseph Kennedy said that he will step down from his position. The Company is in look out for successor and Kennedy will continue to lead the company until his replacement is found.
Shares of Skullcandy Inc. (NASDAQ: SKUL) slumped over 20% by afternoon trade on Friday after the headphone maker on Thursday said that losses in its fiscal first quarter will be wider-than-expected amid sharp drop in sales. However, fiscal fourth quarter earnings were in-line with Street’s estimate.
The stock was already down about 55% in the past 12 months before the company announced its fourth-quarter report late on Thursday. According to a data provided by Thomson Reuters, company’s downbeat outlook has forced half of the brokers covering the stock to maintain a “sell” rating, while other half are keeping “neutral” rating. No Wall Street firms maintain a “buy” rating on the stock, according to Thomson Reuters.
Ann Inc. (NYSE: ANN) shares rallied about 9% on Friday after the women’s apparel retailer reported better-than-expected quarterly earnings and provided upbeat guidance on the revenue. Ann, which owns Ann Taylor and Loft Brands, said that profits in the fiscal fourth-quarter climbed 8.7% thanks to robust revenue growth. However, same-store-sales were slightly disappointing.
For the fiscal fourth quarter, Ann reported a profit of $2.4 million, or 5 cents a share compared to earnings of $2.2 million, or 4 cents a share, in the year earlier quarter. Analysts’ consensus estimate was of earnings of a penny a share, according to a data compiled by Thomson Reuters. In the current quarter, the company is expecting sales of $ 600 million and $2.57 billion for the fiscal 2013. Analysts polled by Thomson Reuters were expecting current sales of $593 million and $2.51 billion of full-year.
Shares of Thor Industries Inc. (NYSE: THO) fell about 3.70 % by afternoon trade on Friday after the recreational vehicle maker late last Thursday reported earnings in the fiscal second quarter fell a penny short of Street’s estimate. However, profits for the period soared 45% thanks to strong revenue growth. For the fiscal second quarter, the Jackson Centre, Ohio-based Company, reported a sales growth of 24 percent to $741.6 million from $597.0 million, in the year-earlier quarter. Analysts’ consensus estimate was for sales for $715.7 million, according to a data provided by Thomson Reuters.
Earnings in the recently concluded quarter came at $19.9 million or 37 cents a share compared to $13.7 million or 25 cents a share, in the same period of last fiscal, missing analysts’ consensus forecast by a penny.
Shares of Quiksilver Inc. (NYSE: ZQK) plunged about 4.50% by afternoon trade after the sports apparel retailer, late last evening, reported wider-than-expected fiscal first-quarter loss as top line was hurt by weakness in Americas. Revenue from Americas, which accounts for most of the company’s total revenue, slumped 9.3% in the recently concluded quarter.
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