Home Business Morning News: Pandora Media Inc (P), The Gap Inc. (GPS), Marvell Technology...

Morning News: Pandora Media Inc (P), The Gap Inc. (GPS), Marvell Technology Group Ltd. (MRVL)

Stocks that are expected to trade actively in U.S. markets on Friday include: Pandora Media Inc (NYSE:P), The Gap Inc. (NYSE:GPS), Foot Locker, Inc. (NYSE:FL), PetSmart, Inc. (NASDAQ:PETM) and Marvell Technology Group Ltd. (NASDAQ:MRVL).

Market Level

U.S.:  DJIA 16009.99 (0.69%)S&P 500 1795.85 (0.81%) NASDAQ 3969.15 (1.22%)

Europe: FTSE6674.29(-0.11%), DAX 9187.57 (-0.09%), CAC 40 4263.68 (0.23%).

Asia Pacific: NIKKEI 15381.72(0.10%), SHANGHAI 2196.38 (0.43%), HSI 23696.28(0.49%), ASX 5335.91 (0.90%), KOSPI 2006.23(0.62%).

Commodities: Oil 95.30 (-0.12%), NAT GAS 3.711 (0.24%), Gold 1243.20 (-0.02%), Silver 19.925(–0.05%), Wheat 650.75 (0.31%), Corn 424.00 (0.24%).

Currency: EUR/USD 1.3519 (0.28%), GBP/USD 1.6195 (-0.01%), USD/JPY 101.22 (0.06%).

10 year Treasury bond: 2.786 (-0.003).

Market & Economic Update

U.S. market may open higher: On Friday, Dow futures lost 0.04% while Standard & Poor’s 500 index futures gained 0.03%. Nasdaq index futures were also up marginally by 0.1%. The marginal rise in futures signals a positive opening for the market after Dow Jones industrial average index closed over the 16,000 level for the first time, in the previous trading session.

European markets up: Shares on the European stock exchanges soared on Friday fueled by the rally in the United States and Japan, which indicates that the investors could go a step further for returns.  At 0844 GMT, The FTSEurofirst 300 was up 0.5% at 1,301.50 points.

Asian markets up: The Nikkei surged 0.1% to 15,381.72, and for the week, gained 1.4% after a 7.7% climb last week, which is the highest one week gain in four years. Investors got the confidence after mobile operator SoftBank Corp outperformed on news of hedge fund manager Daniel Loeb taking a stake. The Hang Seng Index gained 0.5% to 23,696.3 while, for the week, the exchange was up 2.9%.

Stocks to watch

Pandora Media Inc (NYSE:P)

For the third quarter, Pandora Media posted a loss of a penny a share compared to a profit of a penny, last year. The internet radio firm earned 6 cents a share excluding one-time items, which is in line with the analyst’s estimate. In after-hours trading, shares of Pandora fell 4%.

The Gap Inc. (NYSE:GPS)

Late Thursday, Gap reported a 9.4% rise in profit to $337 million, or 72 cents a share. The company also announced a $1 billion share-repurchase program. In after-hours trading, Gap shares were down 1.9%.

Marvell Technology Group Ltd. (NASDAQ:MRVL)

Marvell’s third quarter profit increased to $103.2 million or 21 cents a share, from $68.8 million, or 12 cents a share, a year ago. On an adjusted basis, Marvell earned 32 cents a share, which is well above the analyst’s estimate of 25-cents-a-share. In after-hours trading shares of the company gained 4%.

PetSmart, Inc. (NASDAQ:PETM)

According to a consensus survey by FactSet, PetSmart is projected to post a third-quarter earnings of 86 cents a share. Analyst Joan Storms from Wedbush have an Outperform on PetSmart, and have included the stock on Wedbush’s best ideas list. “Our bull thesis is driven by our belief that the company’s destination stores, combined with an improving online experience,” makes the company much more attractive than competitors, according to the analyst.

Foot Locker, Inc. (NYSE:FL)

For the third quarter, Foot Locker is expected to post earnings of 66 cents a share. According to Deutsche Bank analysts, the company’s top line will be boosted by the rising popularity of National Basketball Association players in Europe.