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IBM Flexes M&A Muscles: Tech Weekly Recap

Stocks in this article: IBM AAPL P SPLK GOOG AMZN

Earnings season slowly rumbled to its close this week, with Pandora Media (P - Get Report) reporting better-than-expected second-quarter results on Wednesday, beating Wall Street's expectations on both the top and bottom lines.

The Oakland, Calif.-based company also offered better-than-anticipated third-quarter and full-year guidance, much to the delight of investors, who pushed the company's shares up on Thursday.

Pandora CFO Steve Cakebread also announced on Wednesday that he's leaving the Internet radio provider.

Shares of Pandora ended the week up 20.26% at $11.99 on Friday.


Big data specialist Splunk (SPLK - Get Report) cruised past Wall Street's expectations for its second-quarter results on Thursday and raised its full-year revenue guidance.

"The momentum that we realized in our first quarter of fiscal 2013 has continued into our second quarter," said Splunk CEO Godfrey Sullivan, in a statement released after market close. "We added nearly 400 new customers and are equally excited about the expanded use of Splunk in our customer base."

Splunk shares closed up 11.47% at $34.40 on Friday.


Earnings season may be over, but September still promises to be a busy month for the tech sector. Next week, on Sept. 6, the spotlight will be firmly on Amazon (AMZN) when the Internet retailer hosts a major press event, expected to mark the debut of a new Kindle Fire. TheStreet will be flying out to live-blog the event in Santa Monica, Calif.

Finnish handset maker Nokia (NOK) is expected to launch two new Lumia phones on Sept. 5, according to The San Jose Mercury News.

The following week will be even busier, with Intel (INTC) kicking off its Developers' Forum on Sept. 11 and gadget giant Apple expected to launch its eagerly anticipated iPhone 5 on Sept. 12.

Embattled handset maker Research In Motion (RIMM) reports its fiscal second-quarter results on Sept. 27.

-- Written by James Rogers in New York.

>To submit a news tip, send an email to: tips@thestreet.com.

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