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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.

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.


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Results for P
The Chief
1 Oct 14 11:15:17
sold last 1/2 $SINA +365% and $YOKU +100% $P +120% . Looking long now.
Stockaholics
1 Oct 14 10:52:00
New, SECRET penny stock alert coming today! Check it out: http://t.co/A2y8IBJKSf $PRLB $P $NXPI
BBerkmanKweii
1 Oct 14 10:33:59
☯Gain Followers ☯RT This ☯MUST FOLLOW ME I FOLLOW BACK ☯Follow everyone who rts ☯Gain #bestfandom2014 #gameinsight $p##
maximus
1 Oct 14 09:23:45
$p..makes money off of advertising which is going to go down .
maximus
1 Oct 14 09:23:21
$p playing its last swan song before joining angi
Viviana
1 Oct 14 09:21:36
@tunante2oficial @HambreCero @MJBennazar $p
Exposethebest
1 Oct 14 09:21:31
iTechiie : $P L C S D $PLCSD http://t.co/NPPISVszQl
#GOLDFACE
1 Oct 14 09:21:15
13IGGE$T $P!DER ON DA \/\/E13 #GOLDFACE 😈👌💿📀💽 >>>> http://t.co/76mTpiPkDO 🇺🇸🇺🇸🇺🇸🐍 ☀ 🌜 http://t.co/Nz9ClEnsau
비치
1 Oct 14 08:50:07
@sergeantsnake 아하.. copy con autoexec.bat $p$q 뭐 이렇게 나가야 하는 거 아닙니까?
Broadcasting Feed
1 Oct 14 08:34:31
Albert Fried & Company Upgrades Pandora Media to "Market Perform" (P) $p http://t.co/8sGg70ms6B http://t.co/ATzMjdjRnO
Consumer Services
1 Oct 14 08:34:29
Albert Fried & Company Upgrades Pandora Media to "Market Perfo... $p #consumerservices http://t.co/qN2esg85TO http://t.co/POU3IicxUc
WKRB News
1 Oct 14 08:34:25
Albert Fried & Company Upgrades Pandora Media to “Market Perform” $P http://t.co/K9bDpSSkFS
Dan
1 Oct 14 08:10:34
No position in Pandora, but it should see a bounce very soon $P
Serge Berger
1 Oct 14 07:45:20
$P feeling the smack-down again today as that big wedge resolves lower. http://t.co/9EwRXgNAmQ
Justin Pulitzer
1 Oct 14 07:27:47
$P: I'm still stalking this for a long entry. Lost $24s so $23.5 & $22.92 are the next key levels… if not. Then $21.47
Almost a Trader
1 Oct 14 06:02:30
Watching: $TKMR $ADSK $ADP - Airlines - $DAL $UAL - $SOCL stocks - $P $FB $TWTR $GPRO #stocksinplay #Stocktober #Ebola
Derek Orr
1 Oct 14 05:28:25
RT @MathPaper: Integrals on $p$-adic upper half planes and Hida families over totally real fields. http://t.co/tssuO7GDrV
Stockaholics
1 Oct 14 01:53:07
New, SECRET penny stock alert coming today! Check it out: http://t.co/A2y8IBJKSf $PRLB $P $NXPI
Stock Signaling
1 Oct 14 00:01:03
Watchlist: $CENX $TIBX $NI $NKE $HIG $CDXS $P $AMAG $JCP $AEO $TK $MACK $MOVE $INFA $CVEO http://t.co/Vtx6dLy0Nw #nasdaq #trading #markets
divyang parmar
30 Sep 14 22:54:07
RT @TraderHMS: So true at the present time: Trading Card 184 by Ray Dalio #trading $SPY $STUDY $QQQ $FB $TWTR $NFLX $P $PLUG http://t.co/Wp…
divyang parmar
30 Sep 14 22:03:05
RT @TraderHMS: Especially true about tech stocks: $TWTR $NFLX $FB $P $FEYE $TSLA http://t.co/FOHiPcRkXl
TickerChirp
30 Sep 14 19:46:05
The Top Tweets Relevant to $P on 10/01/2014 http://t.co/bQx58VQTyL
Stockaholics
30 Sep 14 19:34:48
FPFI closed up 250% today! Huge Update and new pick coming: http://t.co/wSPWepHL5n $PRLB $P $NXPI
Green Guy
30 Sep 14 17:45:35
free video: $F $GM $ADHD $FSLR $TSLA $SCTY $CLF $CNET $GPRO $AMZN $P $Z $NFLX $TKMR and Macro $spy. daily profit 80% http://t.co/05Drw7LNlm
arXiv math.NT
30 Sep 14 17:32:14
Isao Ishikawa : Integrals on $p$-adic upper half planes and Hida families over totally real fields http://t.co/66Z20jYhhG
Alexander Riera
30 Sep 14 17:19:33
RT @JohannaThominra: @alexanderriera Mientras sigan errando en ls inventos el Sicad2 es 1fracaso hoy vi como aumentan a $P l mercancía para…
arXiv math.CO
30 Sep 14 17:09:58
Lucia Morotti : $p$-vanishing conjugacy classes of symmetric groups http://t.co/HhrfSmyTuk
Holy City Investor
30 Sep 14 17:08:02
Closed some profitable $P puts. Will look for a bounce heading into earnings to buy puts again
AMANTE DE LA LEALTAD
30 Sep 14 17:06:31
@alexanderriera Mientras sigan errando en ls inventos el Sicad2 es 1fracaso hoy vi como aumentan a $P l mercancía para Dic no respetan ley
Stockaholics
30 Sep 14 15:36:42
FPFI closed up 250% today! Huge Update and new pick coming: http://t.co/wSPWepHL5n $PRLB $P $NXPI
Dan Nathan
30 Sep 14 14:16:32
There was a time where I thought buy vs build would be the path for $GOOGL in digital music.Not anymore.No Bueno 4 $P http://t.co/ENxSXd6jaj
Dave Neville
30 Sep 14 13:40:48
Is the Spotify IPO Right for You? ($AAPL, $P): http://t.co/ULtg9EL5J9 via @themotleyfool
Keith McCullough
30 Sep 14 12:27:06
4. $P is one of the many social media tech whatever dogs that @peterthiel should be smart enough to analyze, in TAM terms
Keith McCullough
30 Sep 14 11:53:01
$NFLX or $P?
Green Guy
30 Sep 14 11:52:58
Follow for tonight's free 8pmEST video: $F $GM $ADHD $FSLR $TSLA $SCTY $CLF $CNET $GPRO $AMZN $P $Z $NFLX and Macro $spy. daily profit 80%
#SPACEFISH
30 Sep 14 11:38:19
RT @Jeylvnicexo: $P @iamfaysall http://t.co/mlHg89DHf7
.
30 Sep 14 11:38:08
RT @Jeylvnicexo: $P @iamfaysall http://t.co/mlHg89DHf7
Quang Doan
30 Sep 14 11:35:27
It can;t be super Tuesday. indices are still red. $ES_F $AAPL $TSLA $AMZN $NFLX $P
Hereitfirst
30 Sep 14 11:32:56
http://t.co/0sUuxyOz9s $40 profit in $P P short
.
30 Sep 14 11:06:02
$P LOL so they bribed the only bear analyst left and he even left his PT same, hilarious joke.
Common Man Investor
30 Sep 14 10:49:48
"@AmericanBanking: Pandora Media Raised to “Market Perform” at Albert Fried & Company $P http://t.co/m2FwZa83AH" Lol w/ a Price target @ $20
US Banking News
30 Sep 14 10:30:09
Pandora Media Raised to “Market Perform” at Albert Fried & Company $P http://t.co/4m4Kd97SaA
Media Sentiment
30 Sep 14 10:24:55
$P received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 304
Analyst Ratings
30 Sep 14 10:20:28
Pandora Media upgraded by Albert Fried & Company to market perform. $20.00 PT. http://t.co/8fn1TtZfRq $P #P
US Consumer News
30 Sep 14 10:20:20
Pandora Media upgraded by Albert Fried & Company to market perform. $20.00 PT. http://t.co/MlPatSYJSG $P #P
30 Sep 14 09:46:42
$P @iamfaysall http://t.co/mlHg89DHf7
Media Sentiment
30 Sep 14 09:30:01
$P received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 274
Media Sentiment
30 Sep 14 09:29:58
$P received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 273
Cady
30 Sep 14 09:29:35
RT @Devan_Nicole23: @cadyslimshady $p!d3r M@n $w@g
Glitz Tangerine
30 Sep 14 09:28:53
RT @LaMonicaBuzz: I have not yet downloaded the new @thomyorke album. But does anyone feel that legal use of @BitTorrent will be threat to …
				
				
By  +Follow September 19, 2013 12:50PM
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