Sirius XM Holdings (SIRI) Made A Fresh Approach to Pandora Media (P) For A Potential Takeover

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) [Trend Analysis] runs in leading trade, it moving down -5.70% to traded at $4.30. The firm has price volatility of 3.30% for a week and 2.43% for a month. Its beta stands at 1.27 times. Satellite radio firm, Sirius XM Holdings Inc’s (SIRI) Chairman Greg Maffei recently made a fresh approach to internet radio provider Pandora Media Inc and expressed interest about a potential takeover, according to a source familiar with the matter.

Sirius XM did not offer a specific price and Pandora has yet to respond to the overture, the source added. Representatives and Sirius XM declined to comment. Bloomberg first reported the new approach on Friday. The report noted that earlier this year, Sirius provided about $15 per share to buy Pandora. Earlier on Friday, CNBC reported that Pandora is now open to selling itself and willing to engage with Sirius XM. Narrow down four to firm performance, its weekly performance was -6.72% and monthly performance was 4.37%. The stock price of SIRI is moving down from its 20 days moving average with -3.47% and isolated positively from 50 days moving average with 0.79%.

Ambarella, Inc. (NASDAQ:AMBA) [Trend Analysis] luring active investment momentum, shares a decrease -11.27% to $54.47. Ambarella, Inc. (AMBA) reported that financial results for its third quarter of fiscal year 2017 ended October 31, 2016. Income for the third quarter of fiscal 2017 was $100.5 million, up 7.8% from $93.2 million in the same period in fiscal 2016.

For the nine months ended October 31, 2016, income was $222.8 million, down 10.3% from $248.4 million for the nine months ended October 31, 2015. Gross margin under U.S. generally agreed accounting principles (GAAP) for the third quarter of fiscal 2017 was 66.0% as compared with 65.7% for the same period in fiscal 2016. For the nine months ended October 31, 2016, GAAP gross margin was 65.8% as compared with 65.2% for the nine months ended October 31, 2015.

GAAP net income for the third quarter of fiscal 2017 was $29.0 million, or $0.84 per diluted ordinary share as compared with GAAP net income of $29.5 million, or $0.87 per diluted ordinary share, for the same period in fiscal 2016. GAAP net income for the nine months ended October 31, 2016 was $39.5 million, or $1.15 per diluted ordinary share.

This compares with GAAP net income of $71.4 million, or $2.12 per diluted ordinary share, for the nine months ended October 31, 2015. The total volume of 6.39 Million shares held in the session was surprisingly higher than its average volume of 1034.71 shares. EPS anticipates indicating constrictive facts, the current year from sell-side analysts, Price to current year EPS stands at 44.70%, and looking additional price to next year’s EPS is 16.72%. While take a short look on price to sales ratio, that was 6.28 and price to earning ratio of 41.11 attracting passive investors.

 

About Gerard Bergeron

Gerard Bergeron covers Bio-pharmacy or healthcare sector Press Releases news updates. He has extensive three year of experience in content writing as freelance writer. He performs analysis of Healthcare Companies and provides worthy information for investor community. He is an experienced writer with a precise grasp of the English language and a clear, compelling writing style.

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