Why Pandora Media Inc (P), Symantec Corporation (SYMC) and Keurig Green Mountain Inc (GMCR) Are 3 of Today’s Worst Stocks

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It was a hard-fought battle, but when push came to shove the bulls prevailed, pushing stocks back into the black for the day. The S&P 500’s close of 2,122.73 was not only a tad better than Thursday’s close, it was another record-breaker for the large cap index.

Why Pandora Media Inc (P), Symantec Corporation (SYMC) and Keurig Green Mountain Inc (GMCR) Are 3 of Today's Worst StocksStill, the S&P 500 has yet to hit a new intraday high print.

As for Keurig Green Mountain Inc (NASDAQ:SYMC), Symantec Corporation (NASDAQ:SYMC) and Pandora Media Inc (NYSE:P), these names were anything but record-breaking today. They were some of the worst of the worst, though for understandable reasons.

Pandora Media Inc (P)

Just days after Pandora Media was riding high on the wings of an appeals court victory over the American Society of Composers, Authors and Publishers (ASCAP) regarding royalty payouts, shares of P fell nearly 3% after coming out on the losing end of a similar court case against music publisher group BMI.

According to the BMI ruling — which is in legal conflict with the ASCAP ruling that was made in a different court — Pandora will be required to pay a royalty rate of 2.5% of its revenue rather than the current royalty rate of 1.75%.

Pandora Media says it will appeal the BMI ruling.

Symantec Corporation (SYMC)

Symantec missed last quarter’s earnings estimates, and also came up short of revenue estimates. The salt in the wound that sent SYMC shares more than 5% lower today, however, was the earnings and revenue outlook for the current quarter.

In its fiscal fourth quarter, Symantec earned 43 cents per share, versus expectations for a profit of 44 cents per share. The bottom line was also well short of the 47 cents per share of SYMC that the company earned in the same quarter a year earlier. Revenue was equally unimpressive. The top line fell 6% on a year-over-year basis, to $1.55 billion. The pros were expecting sales of $1.56 billion.

Worse, the company now expects a per-share profit of somewhere between 41 and 44 cents per share of SYMC for the current quarter, versus analyst expectations of 45 cents. Revenue guidance for the current quarter new stands between $1.5 billion and $1.54 billion, compared to the average analyst estimate of $1.615 billion.

Keurig Green Mountain (GMCR)

Still digesting troubling news about a lackluster response to the Keurig 2.0 coffee brewer, Keurig Green Mountain investors were dealt another blow today. GMCR shares tumbled nearly 8% on Friday after the company announced it would only launch its new Keurig Kold on a limited basis this year, and wouldn’t reach a full retail presence until the 2016 holiday shopping season.

Aside from criticisms about the slow rollout after the device was so ballyhooed when it was first unveiled in February, analysts are less than thrilled with the $300 price tag. It may simply be too high to drive wide adoption by even the biggest fans of carbonated beverages… especially when rival Sodastream International Ltd (NASDAQ:SODA) offers a similar device at only $99 apiece.

As of this writing, James Brumley did not hold a position in any of the aforementioned securities.

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Article printed from InvestorPlace Media, https://investorplace.com/2015/05/pandora-media-inc-p-symantec-corporation-symc-keurig-green-mountain-inc-gmcr-3-todays-worst-stocks/.

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