NEW YORK -- Pandora (P) , the streaming music company, posted break-even results for its fiscal second quarter on Wednesday and provided strong guidance.
The company sees revenue ranging from $115 million to $118 million for its third quarter ending in October, ahead of Wall Street's current consensus estimate of $114.4 million. For the full year, Pandora expects revenue of $425 million to $432 million and a non-GAAP loss of 4 to 8 cents a share vs. the average analysts' view for a loss of 11 cents a share on revenue of $424.2 million.
Ciena (CIEN) is scheduled to report fiscal third-quarter results before Thursday's opening bell and analysts expect a loss of 2 cents a share in the July-ended quarter from the optical networker on revenue of $473.9 million.
TiVo (TIVO), the digital video-recording technology company, reported a narrower second-quarter loss on Wednesday as it gained 23,000 subscribers for the quarter ended in July. TiVo said it expects fiscal third-quarter revenue from service and technology to range from $57 million to $59 million. Analysts are forecasting $57 million. Why It May Be Time to Sell Amazon
Sears Holdings (SHLD) is being removed from the S&P 500. The struggling department store retailer will be nixed from the index after the close of trading on Sept. 4, replaced by LyondellBasell Industries (LYB).
British bank Barclays (BCS) named Antony Jenkins, head of its retail and business banking operations, as its new CEO. He replaces Bob Diamond, who resigned in the wake of the Libor rate-fixing scandal. -- Written by Joseph Woelfel
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