Tech stocks: GameStop, Pandora to report earnings

GameStop will report third-quarter earnings results Thursday, as investors keep a close watch on video game companies with the launch of two new pieces of hardware.

Shares of the video game retailer are down nearly 4% in pre-market trading.

Tonight at midnight, Microsoft launches the $499 Xbox One, the company's latest video game console that features enhanced integration with cable and satellite TV boxes and a Snap features for using two apps simultaneously.

The launch comes one week after Sony released its $399 PlayStation 4 to the masses. Sales have been impressive, topping 1 million during the first 24 hours, a company record.

Meanwhile, Internet radio company Pandora will report third-quarter earnings after the markets close. Last quarter, the company reported surges in both revenue and profits along with a 92% increase in mobile revenue.

Pandora faces increased competition in the streaming music business, with competing services including Spotify, Rdio, Google Music and iTunes Radio.

Follow Brett Molina on Twitter: @bam923.