Why National-Oilwell Varco, Inc. (NOV), Pandora Media Inc (P) and TiVo Inc (TIVO) Are 3 of Today’s Best Stocks

Advertisement

Stocks sagged again Friday, but the Dow Jones Industrial Average eked out a monthly advance. The S&P 500 lost half a percent while the Dow gave up 0.32%. Retreating healthcare and technology names weighed on the Nasdaq Composite, sending that index to a Friday loss of 0.62%.

Why National-Oilwell Varco, Inc. (NOV), Pandora Media Inc (P) and TiVo Inc (TIVO) Are 3 of Today's Best StocksRisk appetite was hard to come by, as highlighted by the ascent of gold and silver to fresh 15-month highs. Stocks struggled throughout the last week of April, and they head into May leaving investors to ponder if “sell in May and go away” is a strategy that will work this year.

There were some sources of strength Friday though, and National-Oilwell Varco, Inc. (NYSE:NOV), Pandora Media Inc (NYSE:P) and TiVo Inc (NASDAQ:TIVO) were the day’s strongest names.

National-Oilwell Varco, Inc. (NOV)

Oil services provider National-Oilwell Varco soared 9% today even as oil prices fell modestly, but another catalyst may have been at play to lift NOV shares: Speculation that NOV could be a takeover target for General Electric Company (NYSE:GE) as GE, a member of the Dow Jones Industrial Average, looks to bolster its oil services footprint.

On Thursday, NOV reported a first-quarter loss of six cents a share, which was better than the 11-cent loss analysts expected. Revenue of $2.189 billion was also slightly ahead of the $2.184 billion analysts expected.

Shares of NOV are up more than 15% over the past month.

Pandora Media Inc (P)

Shares of online music provider Pandora jumped more than 5% on volume that was better than triple the daily average after the company said its first-quarter revenue increased to $297.3 million from $230.8 million.

P boosted its full-year revenue guidance to $1.41 billion to $1.43 billion, up from previous guidance of $1.4 to $1.42 billion. Wall Street is expecting P to report 2016 revenue of $1.41 billion.

P lost 20 cents a share in the first quarter, but that is better than the 31-cent a share loss Wall Street expected.

TiVo Inc (TIVO)

TiVo, the maker of the eponymous set-top boxes used for recording television shows, climbed almost 6% on volume that was more than 20 times the daily average after the company received a takeover offer from Rovi Corporation (NASDAQ:ROVI).

ROVI said it will acquire TIVO for $1.1 billion, or $10.70 per share in cash and stock, a 13.6% premium to where shares of TIVO closed yesterday. TIVO investors will receive $2.75 per share in cash and the remainder of that total in stock, according to Reuters.

TIVO and ROVI have 10 million and 18 million customers, respectively.

At the time of this writing, Todd Shriber did not own any of the aforementioned securities.

More From InvestorPlace

Todd Shriber has been an InvestorPlace contributor since 2014.


Article printed from InvestorPlace Media, https://investorplace.com/2016/04/national-oilwell-varco-inc-nov-pandora-media-inc-p-tivo-inc-tivo-3-todays-best-stocks/.

©2024 InvestorPlace Media, LLC