Earnings News: Applied Materials Inc (AMAT), Pandora Media Inc (P), Green Mountain (GMCR)

Applied Materials, Inc. (NASDAQ: AMAT) reported fiscal third quarter net income fell to $168 million, or 14 cents per share, from $218 million, or 17 cents per share, in the year-ago quarter. After the bell Thursday, the company issued earnings guidance that fell short of Wall Street estimates.The chip gear maker also announced it expects foundry customers to hold back spending in the current quarter as they switch to making smaller chips.On Friday, shares of Applied Materials, Inc. edged lower in pre-market trade, but rose 3.36 percent to $16.84 in morning trade.Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) rose after Nasdaq OMX announced the company will replace Life Technologies in the Nasdaq 100 index on Thursday, August 22.Last week, Green Mountain reported a 59 percent increase in fiscal third quarter net income, helped by stronger sales in the U.S. and lower coffee bean costs.Shares of Green Mountain Coffee Roasters were up 3.08 percent to $76.21.Pandora Media, Inc. (NYSE: P) jumped on Friday, after Goldman Sachs Group Inc (NYSE: GS) upgraded the company from ‘Neutral’ to ‘Buy.’  Pandora is scheduled to report earnings on August 22.The company is expected to report a second quarter EPS loss of 2 cents, compared with an EPS loss of 3 cents a year earlier, according analysts polled by Zacks Investment Research.Shares of Pandora Media jumped 7.10 percent to $21.26.  The Dow Jones industrial average was up 11.75 points, or 0.08 percent, at 15,123.94. The S&P 500 Index was down 0.49 points, or 0.03 percent, at 1,661.28. The Nasdaq Composite Index was down 10.89 points, or 0.3 percent, at 3,617.21.