logo  
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

Pandora Pops Again on High Demand, Court Win

By  +Follow September 19, 2013 12:50PM
Share:
Tickers Mentioned:

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.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


Liked What You Read? Join Equities.com as a contributor and get eyeballs on your content FOR FREE!

Results for P
C. Maoxian
26 Jan 15 00:22:23
Maoxian > Charts of Note, Fri. Jan. 23, 2015 http://t.co/yPCQ4xFHBN | $COV, $ETFC, $INFN, $MHR, $MIK, $P, $SWKS, $UPS.
Swiss
26 Jan 15 00:04:39
RT @StockSignaling: Movers and Shakers: Making Range Advances: $CLR $ELX $BERY $TKMR $BTG $SPF $P $AEO $SNDK $SNSS $WIN $NGD $HOLX $BBY $KG…
ProTradersNews
26 Jan 15 00:01:07
$P: First Call Rating Update on Pandora Media Inc: http://t.co/FmFxf8Bt53
Mike Herring
25 Jan 15 23:14:51
“Pandora’s Personalized Pushes” by Vanessa Jupe $P https://t.co/p5QQEgoAR1
Denny
25 Jan 15 21:12:14
RT @StockSignaling: Movers and Shakers: Making Range Advances: $CLR $ELX $BERY $TKMR $BTG $SPF $P $AEO $SNDK $SNSS $WIN $NGD $HOLX $BBY $KG…
Diego R
25 Jan 15 21:02:42
RT @StockSignaling: Movers and Shakers: Making Range Advances: $CLR $ELX $BERY $TKMR $BTG $SPF $P $AEO $SNDK $SNSS $WIN $NGD $HOLX $BBY $KG…
Stock Signaling
25 Jan 15 21:01:30
Movers and Shakers: Making Range Advances: $CLR $ELX $BERY $TKMR $BTG $SPF $P $AEO $SNDK $SNSS $WIN $NGD $HOLX $BBY $KGC #watchlist #mkt
Derek Orr
25 Jan 15 20:20:11
RT @MathPaper: On integrality of $p$-adic iterated integrals. http://t.co/9cIEPZLX8U
l☁️uis
25 Jan 15 20:20:10
RT @bIazedzjm: $p@m @ll up 0n m`/ tim3lin3
madi
25 Jan 15 20:18:47
$p@m @ll up 0n m`/ tim3lin3
madi
25 Jan 15 20:17:46
$p@m
madi
25 Jan 15 20:16:58
$t0p $p@mming!!
YahooFinePants
25 Jan 15 19:48:33
$P damn that 16 b/o was obvious. IMO this thing is an obvious takeout target. Subscriber base has to be enormous.
907 Gamers
25 Jan 15 19:29:26
"The $P@€£ BOYZ clan ps3/ps4" by Francis Dennis II http://t.co/mLYhLgvMkO #907 #AK
GaleriaFMV
25 Jan 15 18:59:13
RT @DiamanteRAPPER: I LOVE ❤️ $P @ Armênia http://t.co/mMIwb8Xv4R
HotKeyTrading
25 Jan 15 18:30:04
Top Stock Picks: $BUD $KMB $P $DAL $Z $INFN $ETFC $ARRY $MIK $RMD $SBUX http://t.co/Vv2VEnpBuv #stock #swingtrading #finance #mkt #spy #dow
John Jackson
25 Jan 15 18:15:33
RT @StockSignaling: Movers and Shakers: $TKMR $P $BITA $FEYE $SN $CONN $ARO $SUNE $KBH $OAS $CLF $AMBA $SLXP $LOCO $JCP http://t.co/S9oPUZ8…
Rayane e Raynara
25 Jan 15 18:15:26
RT @DiamanteRAPPER: I LOVE ❤️ $P @ Armênia http://t.co/mMIwb8Xv4R
arXiv math.NT
25 Jan 15 18:13:42
Andre Chatzistamatiou : On integrality of $p$-adic iterated integrals http://t.co/IKHRMZofpN
Fredrick
25 Jan 15 18:10:26
RT @StockSignaling: Movers and Shakers: $TKMR $P $BITA $FEYE $SN $CONN $ARO $SUNE $KBH $OAS $CLF $AMBA $SLXP $LOCO $JCP http://t.co/S9oPUZ8…
Mark Trader
25 Jan 15 18:09:51
http://t.co/vJ93JPRWBF has the most reliable picks in the market. The move fast and never fail. $NRF $DDR $XRX $AG $SBS $P $IDTI
Stock Signaling
25 Jan 15 18:01:24
Movers and Shakers: $TKMR $P $BITA $FEYE $SN $CONN $ARO $SUNE $KBH $OAS $CLF $AMBA $SLXP $LOCO $JCP http://t.co/S9oPUZ8PN3 #daytrading #dow
Lorena
25 Jan 15 17:58:02
RT @DiamanteRAPPER: I LOVE ❤️ $P @ Armênia http://t.co/mMIwb8Xv4R
Thata Rippi Lovato⚓
25 Jan 15 17:56:10
RT @DiamanteRAPPER: I LOVE ❤️ $P @ Armênia http://t.co/mMIwb8Xv4R
♡ MVerdelho ♡ FMV ♥
25 Jan 15 17:55:42
RT @DiamanteRAPPER: I LOVE ❤️ $P @ Armênia http://t.co/mMIwb8Xv4R
edu ✌️
25 Jan 15 17:55:33
RT @DiamanteRAPPER: I LOVE ❤️ $P @ Armênia http://t.co/mMIwb8Xv4R
Jenni ✨
25 Jan 15 17:55:31
RT @DiamanteRAPPER: I LOVE ❤️ $P @ Armênia http://t.co/mMIwb8Xv4R
Diamante #MONAIPE
25 Jan 15 17:54:48
I LOVE ❤️ $P @ Armênia http://t.co/mMIwb8Xv4R
arxiv math.AP
25 Jan 15 17:37:13
The optimal partition problem for $p$-Laplacian eigenvalues as $p$ goes to one. (arXiv:1501.05923v1 [math.AP]) http://t.co/B6LnCRzGaR
Soulja P
25 Jan 15 16:58:14
Bout 2 Watch this #ProBowl 💨💨💨#Cloud9 $P http://t.co/VtFC43s3GE
HotKeyTrading
25 Jan 15 16:30:03
Top Stock Picks: $BUD $KMB $P $DAL $Z $INFN $ETFC $ARRY $MIK $RMD $SBUX http://t.co/TRx9EnjwT5 #nasdaq #analytics #stockmarket #spy #trader
Gatewood Insane Ruひ
25 Jan 15 16:11:52
Dey fucked around and let Yung Link up w/ R2R and $P http://t.co/tsoSpNJ9E8
sara emanoelle
25 Jan 15 15:58:08
RT @larissaantoa: Não esxiste amor em $P 🎶
Laris Santos
25 Jan 15 15:57:33
Não esxiste amor em $P 🎶
Yuppy
25 Jan 15 13:33:02
RT @StockSignaling: Top Stocks (By Trading Liquidity): $OCN $ARIA $AKS $P $SCOK $AEGR $CNAT $CVEO $ADHD $NE $YELP $WLL $GDP $INVN $SSRI htt…
Andy
25 Jan 15 13:31:15
RT @StockSignaling: Movers and Shakers: Making Range Advances: $CLR $ELX $BERY $TKMR $BTG $SPF $P $AEO $SNDK $SNSS $WIN $NGD $HOLX $BBY $KG…
Stock Rocket
25 Jan 15 13:30:50
Our Penny Stock Picks Gained 968% In 5 Weeks! Get Our Next Pick Early: http://t.co/wMEn6i1tkM $PRLB $P $NXPI
I'm Acting Brand New
25 Jan 15 13:05:37
Listen to Understand - $p@zz Johnson Ft Enter The Godlii by Cj Duh #np on #SoundCloud http://t.co/hVHu5Aka8Z BAng My Cousins NEW SHITItSlap
907 Gamers
25 Jan 15 12:49:19
"The $P@€£ BOYZ clan ps3/ps4" by Francis Dennis II http://t.co/2GpLBTRsJL #907 #AK
Matheus
25 Jan 15 12:46:02
Pelas ruas de $P @RACIONAISClTOU http://t.co/SPg5PJmFfa
Stockaholics
25 Jan 15 10:02:55
Our Penny Stock Picks Gained 968% In 5 Weeks! Get Our Next Pick Early: http://t.co/yQwzgQ7fmA $PRLB $P $NXPI
Mark Trader
25 Jan 15 09:48:22
http://t.co/vJ93JPRWBF has the most reliable picks in the market. The move fast and never fail. $NRF $DDR $XRX $AG $SBS $P $IDTI
James DiPlata
25 Jan 15 09:22:44
RT @StockSignaling: Movers and Shakers: Making Range Advances: $CLR $ELX $BERY $TKMR $BTG $SPF $P $AEO $SNDK $SNSS $WIN $NGD $HOLX $BBY $KG…
Stock Signaling
25 Jan 15 09:01:55
Movers and Shakers: Making Range Advances: $CLR $ELX $BERY $TKMR $BTG $SPF $P $AEO $SNDK $SNSS $WIN $NGD $HOLX $BBY $KGC #dow #spy #stocks
Bshaum
25 Jan 15 08:44:15
RT @StockSignaling: Top Stocks (By Trading Liquidity): $OCN $ARIA $AKS $P $SCOK $AEGR $CNAT $CVEO $ADHD $NE $YELP $WLL $GDP $INVN $SSRI htt…
StockNewsWires
25 Jan 15 07:41:03
$P $FB: Ever Green Stocks: Pandora Media Inc (NYSE:P), Facebook Inc ...: http://t.co/ZJ6I7Gf0wk
StockNewsWires
25 Jan 15 07:11:04
$P $PGNX: Watch 5 Stocks: Pandora Media Inc (NYSE:P), Newmont Mining ...: http://t.co/F04p9XQltB
Stock Signaling
25 Jan 15 07:01:24
Top Stocks (By Trading Liquidity): $OCN $ARIA $AKS $P $SCOK $AEGR $CNAT $CVEO $ADHD $NE $YELP $WLL $GDP $INVN $SSRI http://t.co/S9oPUZ8PN3
Sleek Money
25 Jan 15 06:49:28
Brokerages Set Pandora Media PT at $31.11 $P http://t.co/TNdNX0r5lA
SPACE CAT.
25 Jan 15 06:33:18
@beatriceche more like $p@c3C@T wootz
				
				
By  +Follow September 19, 2013 12:50PM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.