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Pandora Pops Again on High Demand, Court Win

By  +Follow September 19, 2013 12:50PM
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Stock in internet radio company Pandora (P) rose over 7 percent today, gradually gaining ground as the day wore on. The company’s stock has been on a roll, with 11 straight days of gains since its last down day on September 4. The most likely reasons for the continued gains are higher-than-expected demand for shares in their recently-announced stock offering as well as news that the company had won its court battle with the American Society of Composers, Authors, and Publishers (ASCAP) over songwriting royalties.

Major Offering Sparks Major Interest

Pandora announced on Monday that it was offering some 10 million new shares with shareholder Crosslink Capital, Inc. offering another 4 million. The partners then announced today that they would be boosting the size of that offer by 30 percent to some 18.2 million shares, priced at $25 apiece. Pandora currently has just 176.4 million outstanding shares.

Court Victory Over ASCAP

Pandora also celebrated news of a court victory over the ASCAP. The ruling means that Pandora is entitled to license any and all songs in the ASCAP catalog and specific publishers like Universal (CMCSA) and BMG (SNE) can’t negotiate separately for higher royalties. The ruling, though, only affects royalties paid to songwriters, which are a fraction of those paid to performers. Still, it represents a victory in Pandora’s efforts to control costs.

"We welcome the court's decision," said Pandora's assistant general counsel Chris Harrison in a statement. "We hope this will put an end to the attempt by certain ASCAP-member publishers to unfairly and selectively withhold their catalogs from Pandora."

ASCAP was disappointed in the ruling, though.

"Songwriters deserve fair pay for their hard work," said ASCAP CEO John LoFrumento.

Pandora is on a Role

Pandora reached another record high as it continued to push into new territory. Since market close on September 4 (when shares dipped 3.24 percent), Pandora’s risen by over 50 percent, increasing the company’s market cap by over $1.5 billion in just two weeks. These recent gains also mean the stock has nearly doubled in value since the start of the year.

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Results for P
Cleber Augusto
30 Jun 15 18:56:44
RT @vulgovinicius: Não existe amor em $P
nabru
30 Jun 15 18:55:25
RT @vulgovinicius: Não existe amor em $P
sofredora
30 Jun 15 18:55:17
RT @vulgovinicius: Não existe amor em $P
VN$!
30 Jun 15 18:55:09
Não existe amor em $P
felipe ⛳
30 Jun 15 18:53:24
$P feat Jacarepaguá
felipe ⛳
30 Jun 15 18:51:36
RT @satierfff: felipe vai brota no rj, conexão $P & Asia
jonathan
30 Jun 15 18:51:19
felipe vai brota no rj, conexão $P & Asia
tradewithjoe
30 Jun 15 18:23:07
Almost where I want it for a trade. $P http://t.co/Ocorwggniw
arXiv math.CO
30 Jun 15 17:08:24
Krzysztof Choromanski : $P_{k}$-freeness implies small dichromatic number http://t.co/NuI3HM67kH
Russell Barbour
30 Jun 15 16:57:07
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ale muller fan
30 Jun 15 16:48:25
#MartesDeGanarSeguidores $p sigan y sigo
StockNewsWires
30 Jun 15 16:22:02
$TWTR $FB $AAPL $P: 6 trades on Twitter's future, Apple Music: http://t.co/fBE244Fi5I
binaryoptionsocial
30 Jun 15 16:07:39
$AAPL $P: Apple Music Starts Streaming: http://t.co/KVzGDcZNEE http://t.co/XG5hVFJGig
binaryoptionsocial
30 Jun 15 16:07:38
RT CNNMoney: #AppleMusic launches today. 5 things to help you get started: http://t.co/zMwanMZ6Zw $AAPL $P $GOOG… http://t.co/XG5hVFJGig
ProTradersNews
30 Jun 15 16:07:03
$AAPL $P: Apple Music Starts Streaming: http://t.co/s20QrCHyTB
binaryoptionsocial
30 Jun 15 16:04:57
RT CNNMoney: #AppleMusic launches today. 5 things to help you get started: http://t.co/zMwanMZ6Zw $AAPL $P $GOOG… http://t.co/XG5hVFJGig
binaryoptionsocial
30 Jun 15 16:04:56
RT CNNMoney: #AppleMusic launches today. 5 things to help you get started: http://t.co/zMwanMZ6Zw $AAPL $P $GOOG… http://t.co/IFXe4VLiF2
Steve Owens
30 Jun 15 16:04:17
RT @CNNMoney: #AppleMusic launches today. 5 things to help you get started: http://t.co/PAAQt3jjbc $AAPL $P $GOOGL $AMZN http://t.co/B3STRZ…
StockenheimerSchmidt
30 Jun 15 15:46:23
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John Vasquez
30 Jun 15 15:39:20
RT @Ed_Hale: I luv ya @BKBrianKelly but how on earth can u recomnd 2 @CNBCFastMoney viewrs 2 buy $P instd of $AAPL? #AppleMusic is gonna de…
Ed Hale
30 Jun 15 15:32:59
I luv ya @BKBrianKelly but how on earth can u recomnd 2 @CNBCFastMoney viewrs 2 buy $P instd of $AAPL? #AppleMusic is gonna destroy #Pandora
Capital Market Labs
30 Jun 15 15:25:28
Interactive Chart -> http://t.co/dXwKqpStJL $P Research and Development is Rising. http://t.co/eHGIbYIWm3
Stockaholics
30 Jun 15 15:21:04
$SUTI Has Now Seen 400% Gains In The Past 2 Weeks! Special Update: http://t.co/l1zbyeF3OQ $PRLB $P $NXPI
StockenheimerSchmidt
30 Jun 15 15:20:37
Our Stock Pick On $PPCH Is Up 370% For Our Subscribers, Since Our Original Release At .02! Huge News: http://t.co/Ab9x726B1J $ITPOF $MTDR $P
StockNewsWires
30 Jun 15 15:00:04
$AAPL $P: Apple shores up music industry clout with streaming service: http://t.co/0whEJy0qMy
Penny Stockington
30 Jun 15 14:45:41
$SUTI Has Gained 66.67%, Since Our Penny Stock Blog Alert! Huge News: http://t.co/llIxl7cUOL $PRLB $P $NXPI
StockenheimerSchmidt
30 Jun 15 14:41:01
Our Stock Pick On $PPCH Is Up 370% For Our Subscribers, Since Our Original Release At .02! Huge News: http://t.co/Ab9x726B1J $PRLB $P $NXPI
John Ablemann
30 Jun 15 14:36:36
$P General Report on Pandora Media Inc (NYSE:P) http://t.co/3W0bZnhkS9
Stock Dawgzz
30 Jun 15 14:20:57
Our Platinum Subscribers Saw Their Penny Stock Alerts Gain Over 200% In 2 Weeks! Big Update: http://t.co/Lhta1yqlzk $PRLB $P $NXPI
qp Log
30 Jun 15 14:01:03
RT @CNNMoney: #AppleMusic launches today. 5 things to help you get started: http://t.co/PAAQt3jjbc $AAPL $P $GOOGL $AMZN http://t.co/B3STRZ…
CryptoAhab
30 Jun 15 13:49:40
RT @Stockenheimer1: Our Stock Pick On $PPCH Is Up 370% For Our Subscribers, Since Our Original Release At .02! Huge News: http://t.co/Ab9x7…
ShortTermAlpha
30 Jun 15 13:23:34
STA Portfolio Short Positions: $TWTR, $SHLD, $LL, $CLF, $INTC, $AMBA, $BBRY, $P, #CrudeOil. #portfolio
Miguel A. Ferreira
30 Jun 15 13:04:19
$P triple bottomed intraday
StockenheimerSchmidt
30 Jun 15 12:52:54
Our Stock Pick On $PPCH Is Up 370% For Our Subscribers, Since Our Original Release At .02! Huge News: http://t.co/Ab9x726B1J $CPSZD $TRON $P
Dom
30 Jun 15 12:43:54
Chicago join @pandora_radio w @madeon to kick of @lollapalooza on July 30th $P http://t.co/EluIHAMRNY http://t.co/y7VAlqXrG7
FlashRatings
30 Jun 15 12:27:31
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StockenheimerSchmidt
30 Jun 15 12:27:13
Our Stock Pick On $PPCH Is Up 370% For Our Subscribers, Since Our Original Release At .02! Huge News: http://t.co/Ab9x71OZD9 $ITPOF $MTDR $P
Miguel A. Ferreira
30 Jun 15 12:20:25
Haha $P https://t.co/10Jjph6Unc
Stockaholics
30 Jun 15 12:19:16
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Cucurucho
30 Jun 15 12:16:05
$P out on this short
Bradbob Traderpants
30 Jun 15 11:59:48
$GOOG and $AAPL are making $P obsolete...only concern in shorting is some big late comer buying them to get in the game.
twiDAQ
30 Jun 15 11:54:57
RT @CNNMoney: #AppleMusic launches today. 5 things to help you get started: http://t.co/PAAQt3jjbc $AAPL $P $GOOGL $AMZN http://t.co/B3STRZ…
StockenheimerSchmidt
30 Jun 15 11:47:45
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Penny Stockington
30 Jun 15 11:33:34
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Market Int Center
30 Jun 15 11:25:58
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Stock Rocket
30 Jun 15 11:25:56
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$P
30 Jun 15 11:14:57
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HartAttackStocks
30 Jun 15 10:39:57
$P respecting the Quad lines (Support/resistance). entered a short position at 15.72! http://t.co/SezAiY0Se4
Capital Market Labs
30 Jun 15 10:39:26
Interactive Chart -> http://t.co/yRoVwZnNJ7 $P Revenue is Increasing. http://t.co/0YRMAyHI4n
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30 Jun 15 10:35:21
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By  +Follow September 19, 2013 12:50PM
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