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Market Preview: Searching for a Catalyst

Thomson Reuters is projecting Zumiez, Gap (GPS - Get Report), and Macy's (M) to post positive surprises, while saying Stage Stores (SSI), Limited Brands (LTD) and The Wet Seal (WTSLA) are among the likely laggards.

And finally, Pandora (P - Get Report) was a big mover to the upside in late trades on Wednesday after the streaming music company posted break-even results for its fiscal second quarter and gave a 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.

The stock was last quoted at $11.03, up 9.4%, on volume of nearly 2.1 million, according to Nasdaq.com.

Sears Holdings Corp. (SHLD - Get Report) was a late loser on news the company is being removed from the S&P 500. Noting the public float for Sears' stock has been "well below the 50% threshold for inclusion for an extended period of time," S&P Dow Jones Indices said the struggling department store retailer will be nixed from the index after the close of trading on Sept. 4, replaced by LyondellBasell Industries (LYB).

Shares of Sears, which are up more than 70% so far in 2012, ticked lower in the wake of the news.

-- Written by Michael Baron in New York.



>To contact the writer of this article, click here: Michael Baron.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
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SYM TRADE IT LAST %CHG
ZUMZ $32.77 0.00%
CIEN $21.46 0.00%
GPS $40.63 0.00%
P $17.49 0.00%
SHLD $42.60 0.00%

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