Valeant swings to a profit, Pandora weighs sale, Hertz slides on miss, Target to test delivery service

Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today.

Valeant Pharmaceuticals (VRX) stock soared in early trading after the embattled Canadian drug company swung to a profit last quarter, reversing a year ago loss thanks to an income tax benefit. The company also raised its earnings outlook for the year. However, revenue came in slightly shy of forecasts.

Pandora (P) shares swung between gains and losses this morning. The internet radio company may be preparing to sell itself after it received a fresh cash infusion of $150 million from private equity firm KKR and two of its board members stepped down. This comes after the company reported a smaller than expected loss for the first quarter, while revenue missed analysts’ estimates.

Hertz (HTZ) shares headed in reverse this morning. The car rental company delivered a much wider-than-expected loss for the first quarter. Revenue also came in below expectations as lower pricing in the US weighed on results.

Target (TGT) is upping its e-commerce game to better compete with rivals Walmart (WMT) and Amazon (AMZN). The discount retailer will test a next-day home delivery service called Target Restock in the Minneapolis area. Household essentials ordered online, like laundry detergent, coffee and other items, will be packaged at a nearby store and delivered for a flat fee.

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