9-12-13 5:35 AM EDT | Email Article
 

By Sue Chang and Laura Mandaro, MarketWatch

 

SAN FRANCISCO (MarketWatch) -- Investors will keep an eye on Pandora Media Inc. on Thursday to see whether the stock will be able to extend its winning streak to a sixth session.

 

After Wednesday's closing bell, Pandora (P) said it appointed Brian McAndrews as the new chief executive, president, and chairman.

 

McAndrews succeeds long-time CEO Joe Kennedy, who had announced his retirement in March.

 

Shares of Pandora climbed 6% in after-hours, on top of a 5.1% advance during the core session, bringing its gains over five sessions to 17%.

 

Also in focus Thursday:

 

Men's Wearhouse (MW) shares dropped 14% after hours Wednesday after the retailer reported a 28% drop in profit and a cut to full-year forecasts.

 

Vertex Pharmaceuticals Inc. (VRTX) and Ametek Inc. (AME) gained after hours. They'll join the S&P 500 (SPX) after the close of trading Sept. 20.

 

Qualcomm Inc. (QCOM) announced a new $5 billion stock buyback program, helping shares to gain 0.9% in after hours. The chip maker also said it bought about 40.1 million in common shares worth about $2.7 billion since July 24.

 

Qualcomm had slid nearly 3% on Wednesday as investors worried that tepid reception to Apple Inc.'s (AAPL) new iPhones could have an adverse effect on the company. Previous versions of iPhones have used Qualcomm chips although it is not clear whether that is the case for iPhone 5C and 5S.

 

On Thursday, Lululemon Athletica Inc. (LULU) is forecast to post earnings of 35 cents a share in the second quarter, according to a consensus survey by Thomson Reuters.

 

Kroger Co. (KR) is projected to report second-quarter earnings of 60 cents a share.

 

Ulta Salon Cosmetics & Fragrance Inc. (ULTA) is likely to report second-quarter earnings of 67 cents a share.

-Sue Chang; 415-439-6400; AskNewswires@dowjones.com

 

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(END) Dow Jones Newswires

09-12-13 0535ET

Copyright (c) 2013 Dow Jones & Company, Inc.
Copyright 2014 MarketWatch
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Morningstar - 2013/9/12 - UPDATE: Pandora, Lulu, Vertex, Men's Wearhouse
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