Morning BUZZERS: Apple Near $675, Pandora FALLS Over 1%
Shares of H.J. Heinz (NYSE:HNZ) fell 2.3 percent this morning, despite reporting a boost in quarterly profits. For the quarter ended July 29, the company earned $258 million (87 cents per share), compared to $226.1 million (70 cents per share) a year earlier. However, revenue decreased 1.5 percent to $2.79 billion in the same period.
Frontline (NYSE:FRO) shares have plunged more than 10 percent. The company reported a second quarter loss of $24.3 million (31 cents per share), compared to a loss of $35.2 million (45 cents per share) a year earlier. Operating revenue also fell 20 percent to $176.6 million, and Frontline will not pay a dividend for the second quarter.
Don’t Miss: Is Apple WINNING?
Apple (NASDAQ:AAPL) shares are trading relatively flat today. A recent study by NPD Group found that nearly 60 percent of previous customers who have had an experience with Apple’s tech support are likely to purchase another product from the company. In addition, 90 percent of those who had had an experience with the company’s technical support, said they were “extremely” or “very” satisfied with it.
Pandora Media (NYSE:P) shares fell over 1 percent this morning. The internet radio company is set to report earnings after Wednesday’s closing bell and many are expecting it to announce a profit for the second quarter. Analysts believe sales will increase 33 percent to reach $100.9 million. Competitor Sirius XM Radio (NASDAQ:SIRI) remains flat this morning.
Investor Insight: Should These Companies Pay MORE Taxes?