7 Buzzing Stocks: Pandora Crashes 25%, Apple Pops 1% and Netflix Gains 4% on Cable Talks

Shares of Pandora Media Inc. (NYSE:P) dropped 25 percent in early trading.  Late Tuesday, the company reported it lost $8.1 million (5 cents per share) in the most recent quarter.  In comparison, it lost $1.4 million (31 cents per share) a year earlier.

Apple Inc. (NASDAQ:AAPL) shares climbed 1 percent higher before the opening bell.  The tech giant is expected to unveil a new iPad today at a special event in San Francisco.

Netflix Inc. (NASDAQ:NFLX) shares increased 4 percent this morning.  Reuters reports that chief executive Reed Hastings has met with some of the largest U.S. cable companies recently to add its streaming service to their cable offerings.

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Despite reporting weaker-than-expected revenues, Ciena Corp. (NASDAQ:CIEN) shares jumped nearly 7 percent.  The company reported an improvement in gross margin from 38.9 percent to 40.3 percent.  Operating expenses also decreased 18 percent.

American Eagle Outfitters Inc. (NYSE:AEO) shares jumped 6 percent after reporting fourth quarter results.  Net income for the retailer fell to $51.3 million (26 cents per share), compared to $87 million (44 cents per share) a year earlier.  However, revenue increased almost 14 percent to $1.04 billion.  Adjusted net income of 35 cents per share beat the mean estimate of 34 cents per share.

Nuance Communications Inc. (NASDAQ:NUAN) gained 2.6 percent in early trading.  The company announced its acquisition of Transcend Services (NASDAQ:TRCR).  Nuance claims the deal will add $140 million to $150 million to fiscal year 2013 revenue.

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To contact the reporter on this story: Eric McWhinnie at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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