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Tibco Software Inc. (NASDAQ:TIBX): The stock dipped on the news of its earnings warnings. The stock is currently trading at $19.27, down 22.05 percent from its previous close of $24.72. Tibco Software reported that it runs the risk of missing Q4 forecast. The news not only caused the stock to decline sharply but also made analysts to revisit their estimates and downgrade the stock.
Merrill Lynch now rates the stock as Neutral, down from its previous rating of Buy. The stock is trading at the Price Earnings ratio of 26.12. It has traded in the range of $20.04 and $34.67 in the past 52 weeks. Tibco now expects its revenue for the fourth quarter to be in the range of $292 million and $295 million, whereas analysts were expecting the fourth quarter revenue at $316 million. Its EPS is also expected to be in the range of 37 to 38 cents per share, lower than consensus estimate of 44 cents per share. The company has blamed internal inefficiencies and macro-economic environment for poor performance.
Pandora Media Inc. (NYSE:P): Pandora is currently trading at $7.79, down 17.57 percent from its previous close of $9.45. The stock crashed after the company reported lukewarm quarterly report and bleak outlook. Pandora Media now expects its adjusted loss to be in the range of 6 cents and 9 cents per share. Analysts had pegged their estimates at a cent per share in profit. In contrast to consensus estimate of $130.2 million in revenue for the fourth quarter, the company now expects its fourth quarter revenue between $120 million and $123 million. For the third quarter, the company’s revenue increased 60 percent to $120 million. Its non GAAP earnings per share for the quarter stood at 5 cents per share. The media company was expected to report its EPS at 1 cent per share. The company commands market capitalization of $1.32 billion. It has traded in the range of $7.08 and $15.25 in the past 52 weeks. However, the stock is trading below its 20 days moving average price of $7.83 and 50 days moving average price of $7.96.
Freeport McMoRan Copper & Gold Inc. (NYSE:FCX): The company announced major acquisitions and the market welcomed the news by tumbling the stock down 14.29 percent. The company will buy McMoRan Exploration Co and Plains Exploration & Production Co and the deal is likely to be worth $9 billion, payable in cash and stock. The combined entity will have diverse interest in gold, natural gas and oil assets and will generate about 75 percent of its 2013 operating earnings from mining. The market reacted negatively as it is being speculated that the company is paying exorbitant price for the acquisition. The company stock is currently trading at $32.81. The stock had opened at $32.10 and has traded in the range of $31.73 and $35.89 in the current trading session. Freeport McMoRan Copper & Gold stock commands the Price Earnings ratio of 10.68. Both McMoRan Exploration Co and Freeport McMoRan Copper & Gold were earlier spun off from erstwhile Freeport-McMoRan Inc. Plains Exploration will get $25 in cash for each of its share, alongwith 0.6531 shares of Freeport McMoRan Copper & Gold. On the other hand, McMoRan shares have been valued at $14.75 each, in addition to 1.15 units of a royal trust.
Mattress Firm Holding Corp. (NASDAQ:MFRM): The company also suffered the effects of weak outlook. Its stock tumbled 20.98 percent and is currently trading at $23.96. The company reported its earnings for the fiscal third quarter of the year at $12.5 million, marginally up from $12.3 million it had earned for the corresponding quarter of the last year. Its revenue jumped 51 percent to $277.3 million, beating analysts’ estimates of $271.6 million. However, it provided bleak outlook for the fourth quarter. The company expects its adjusted profit for the fourth quarter to be in the range of 30 to 33 cents per share, down from consensus estimate of 51 cents per share in income. Its fourth quarter revenue is likely to be in the range of $261 million to $266 million. The stock is trading at the Price Earnings ratio of 14.61. It has traded in the range of $21.55 and $48.18 in the past 52 weeks. However, the stock is trading above its 20 days moving average price of $23.92 and 50 days moving average price of $23.84.
