Facebook Plays It Cool on Teen Issue, Pandora Slips
Facebook Inc. (NASDAQ:FB): ”Overall U.S. teen usage of Facebook remains stable. The vast majority of U.S. teens are on Facebook. And the majority of U.S. teens use Facebook almost every day,” said Facebook COO Sheryl Sandberg in an interview with AllThingsD. Her statements rub up against remarks by Facebook’s CFO, who on the last company earnings call said that the website “did see a decrease in daily users, specifically among younger teens.”
Pandora Media (NYSE:P): Although Pandora reported adjusted earnings per share of 6 cents, meeting consensus, and revenue of $181.6 million beat by $6.8 million, shares are dropping as the company guides for fourth-quarter revenue of $185 million-$190 million and EPS of 2 cents versus a consensus of $187.3 million in revenue and EPS of 4 cents. Ad revenue growth slowed to 36 percent in the third quarter from 44 percent in the second quarter, as ad revenue per thousand listening hours rose to $40.11 from $38.87 in the second quarter and $32.40 a year ago.
Sotheby’s (NYSE:BID): Though shares are down, Sotheby’s is coming off a monstrous auction on Friday, in which it moved $62.8 million worth of cars in just over two hours including a 1964 Ferrari race car that commanded $14.3 million on its own. The huge haul comes after Sotheby’s saw some Andy Warhol and Francis Bacon pieces move at record prices last week.
Yum Brands (NYSE:YUM): Yum Brands has reloaded its share repurchase plan, adding $750 million approved for stock buybacks to be stacked on top of the company’s existing repurchase arrangement. Seeking Alpha notes that over the past five years, Yum has returned $5.8 billion to shareholders via dividends and through share buybacks.
Goldman Sachs Group (NYSE:GS): Goldman Sachs will apparently be putting its uranium trading business on the auction block as banks industrywide are seeking to shed their physical commodity operations and refocus on their core businesses. Seeking Alpha points out that the move comes ahead of new Federal Reserve rules on how it will deal with banks’ exposure in this area, “not to mention cooler commodity markets than existed a few years back.”
Don’t Miss: 5 JFK Movies Everyone Should See.