Panda is specifically focused on identifying and promoting high-quality content that is useful for visitors, while pushing down low-quality, spammy, thin, and scraped content.
Early research by Search Engine Journal showed that these sites saw double-digit decreases in organic visibility:
Ask.com (-50%)
Ebay.com (-33%)
Retailmenot.com (-33%)
Yellowpages.com (-20%)
Strong gains in organic visibility:
Glassdoor.com (100%)
Emedicinehealth.com (500%)
Medterms.com (500%)
Myrecipes.com (250%)
What to Avoid
Several common points that webmasters have run into when facing the Google Panda series of updates:
Thin Content
Scraped Content
Syndicated Content
Deceptive Information:
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