After closing down 1.69% during regular market hours, shares of eBay Inc. (NASDAQ:EBAY) are edging .35% higher in late trading. The consumer sector has been under pressure as the savings rate increased and consumer spending decreased in September. Shares of Target (NYSE:TGT) and Wal-Mart (NYSE:WMT) are relatively flat in extended trading.
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Pandora Media Inc. (NYSE:P) continues to slide after the closing bell. Following a FQ3 report noting increased listener hours and better mobile monetization, Pandora is still strong with IPO underwriters JPMorgan (NYSE:JPM) and Morgan Stanley (NYSE:MS). However sales of shares are still down, due in part to weak FQ4 EPS projections. Pandora’s attempts to increase profits remain hampered by the huge royalty payments it makes to music studios in proportion to listener hours. Shares are down 18% in the past three days.
It’s official, shares of Groupon (NASDAQ:GRPN) are on sale. Shares closed 15% down on Wednesday, and continues to fall below its $20 IPO price in extended trading. Investors continue to doubt the company’s fundamentals.
After ending Wednesday down nearly 3%, shares of Netflix (NASDAQ:NFLX) continue to edge lower in late trading. On Tuesday, Netflix announced a plan to raise $400 million in cash by offering stock and convertible bonds. Shares of Apple (NASDAQ:AAPL) and Google (NASDAQ:GOOG) are climbing higher after the closing bell.
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