Apple TV Gets a Nod from AirPlay, Pandora’s New Share Offering, and 3 More Hot Stocks
Apple Inc. (NASDAQ:AAPL): Amazon.com’s (NASDAQ:AMZN) Instant Video iOS app now lets users stream content to Apple TV using AirPlay, Gigaom reports. The update was added on Tuesday, and was in response to numerous negative reviews for the app’s inability to support Apple TV compatibility with AirPlay.
Pandora Media (NYSE:P): Pandora shares are bouncing back from an after-hours dip on Monday night, following the streamer’s announcement that it would be issuing 10 million new shares, and selling 4 million on behalf of venture capital firm Crosslink Capital. Crosslink will still own 25 million shares after the offering is completed, and underwriters will have a 2.1 million-share overallotment option. Pandora intends to use the cash generated for ”general corporate purposes, including working capital and capital expenditures,” along with potential acquisitions.
Intel Corp. (NASDAQ:INTC): Credit Suisse has bumped its price target up on Intel to $30 from $28. The firm argues that accelerating Data Center Group (DCG, Xeon server CPUs) growth will boost the chip company’s bottom line, as the unit had a $1.23 billion operating profit on just $2.74 billion in revenue. By comparison, Intel’s PC CPU unit needed $8.1 billion in revenue, to generate a $2.66 billion operating profit.
Novartis AG (NYSE:NVS): Novartis’ Alcon eye care division is investigating allegations that its Chinese staff bribed doctors at over 200 hospitals in order to rack up sales. Reportedly, employees have diverted money that was originally intended for Alcon’s post-marketing clinical studies on its lens implants, adding to claims that company employees bribed doctors in order to help boost sales of a cancer drug.
Sohu.com Inc. (NASDAQ:SOHU): Sohu is giving up some of its premarket gains that it picked up after Goldman Sachs put the name on its conviction buy list with a price target of $98 — 40 percent over Monday’s closing price. Costly investments in video, search, and mobile are about to pay off in the form of accelerating earnings, Goldman says.