NEW YORK (TheStreet) -- Pandora Media (P) surged Friday, as speculation of a potential buyout resurfaced and favorable comments from an analyst continued to reverberate in the market. Oracle (ORCL - Get Report) rose higher as the enterprise software giant prepares to release its third-quarter earnings next week. NXP Semiconductors (NXPI - Get Report) soared following a strong buy recommendation from a Needham analyst.
Pandora soared 7.2% to close at $16.44.
The Internet radio company apparently received a boost after speculation resurfaced the company may be the target of a potential buyout. "Apple (AAPL - Get Report) and Yahoo! (YHOO) have been mentioned in the past [as potential buyers], but it seems as if a fresh round of takeout chatter has emerged again this week. Bullish options flow in the March 15 calls and the April 7 Weekly 17 calls was detected in Pandora, trading 4.3X its average daily trading volume," said Henry Schwartz, Trade Alert president and a member of TheStreet's Options Profits Team.
Oracle rose 1.8% to end the session at $42.38, on a day when the broader markets fell.
The enterprise software maker is expected to report a 2% increase in third-quarter net profits, compared with year-ago figures, according to a Reuters report. Given that many Wall Street analysts are holding firm on their recommendations leading up to its quarterly report on Tuesday, investors may be taking that as a positive sign.
A collection of analysts' take on Oracle's upcoming quarterly announcement ranged from a favorable assessment to one of continued constraint, according to a Barron's report. "Despite currency headwinds, we believe Oracle stands to benefit from several drivers during late FY2015 and into FY2016: (1) the potential for further improvements in salesforce productivity, (2) adoption of the In-Memory option of Oracle Database 12c, (3) increasing customer adoption of Oracle Fusion Applications, and (4) the massive market opportunity for Engineered Systems," Phillip Winslow, a Credit Suisse analyst, is cited in Barron's.
Meanwhile, Karl Keirstead of Deutsche Bank, as noted in the Barron's report, said, "Despite the positive surprise last quarter and the reasonable valuation, we'd characterize buy-side sentiment as mixed/cautious."
NXP Semiconductors surged 6.2% to close at $104.67, setting a new record high for the company.
The chip maker jumped after Needham analysts initiated coverage on the company with a strong buy rating. The analysts pointed to NXP's recent merger announcement with Freescale Semiconductor (FSL) that will create the fourth-largest semiconductor company and the No. 1 chip supplier to auto makers, as well as the No. 1 supplier of general purpose microcontrollers once the deal closes.
"Ultimately, we believe the stock has room for multiple expansion as investors realize this earnings power, which we estimate could exceed $9-plus over the next several years," Needham said in its report.