Global Payments Inc (NYSE:GPN) shares jumped 10% to $55.76. The company, on Oct. 1, announced that Jeffrey S. Sloan, currently Global Payments’ President, has been named by the Board of Directors to also serve as the company’s Chief Executive Officer, effective immediately.
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Additionally, the company on Oct. 1 reported quarterly results above Wall Street estimates and boosted its outlook on plans for an accelerated share buyback. The company reported adjusted fiscal first-quarter earnings of $1 a share on revenue of $629.7 million. Analysts surveyed by FactSet expected earnings of 95 cents a share on revenue of $624.1 million.
Oi SA (ADR) (NYSE:OIBR) shares gained 12.17% to $2.12. Portugal Telecom, SGPS, S.A., Oi S.A., AG Telecom Participates S.A., LF Tel S.A. and their respective affiliates on Oct. 2 have signed a memorandum of understanding setting out the basis for a proposed merger of PT, Oi and the Oi Holding Companies into a single Brazilian incorporated listed entity.
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Pandora Media Inc (NYSE:P) shares increased 5.72% to $26.99. The company on Oct. 2 announced new metrics that were reached in the month of September 2013. Listener hours for Pandora during the month of September 2013 were 1.36 billion, an increase of 18% from 1.15 billion during the same period last year. Active listeners were 72.7 million at the end of September 2013, an increase of 25% from 58.3 million during the same time period last year.
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Additionally, the company on Sept. 18 announced the pricing of an underwritten public offering of 18,200,000 shares of its common stock at a price to the public of $25.00 per share. A total of 13,000,000 shares are being offered by Pandora, and a total of 5,200,000 shares are being offered by the selling stockholder. The offering is expected to close on September 24, 2013.