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
Stockaholics
31 Oct 14 11:25:10
Our Penny Stock Newsletter Alert On MGON Closed up 112.5% Today! Major News: http://t.co/dvxYQnSJab $PRLB $P $NXPI
DC
31 Oct 14 11:19:40
$P Artist support a plus big fan of Boyz 2 Men.
DC
31 Oct 14 11:18:42
$P create hypothetical listener hour expansion which could solidify solid numbers in both long and near term while validating lower costs.
Mike Herring
31 Oct 14 11:02:16
Are Machines our Masters? Or do they help us be happier versions of ourselves? I hope the latter http://t.co/iqKi9DicBq @Pandora_Media $P
dominic
31 Oct 14 10:56:16
$P is cheap enough for a bout out.. mkt is so up and #TWTR can't buy an uptick
Green Lantern
31 Oct 14 10:17:30
Added to $P position at $18.90.
Flux
31 Oct 14 10:12:42
only shorts right now $P and $YELP - holding them, bear flags still. Keeping very close eye on $TNA now.
P. Ricatti
31 Oct 14 10:02:51
RT @montalvo_d: Social stocks waaay off 52-wk highs: • $FB -9% • $LNKD -19% • $TWTR -44% • $YELP -44% • $KING -52% • $GRPN -53% • $P -54% •…
Kym L
31 Oct 14 09:17:27
$P not looking so hot
DailyStockPicks
31 Oct 14 09:16:56
#Ebola revenues for $LAKE announced. $SMED has 4 ways Ebola positively impacts their bottom line: http://t.co/vxKje2CxK4 $PFE $P $CSX
Oliver Renick
31 Oct 14 08:45:59
Spotify, $P "great" for listeners, but less money for artists - but not bad for @BoyzIIMen, Shawn says: http://t.co/Y2F3XJpnNo
especulador
31 Oct 14 08:39:37
@jonesadi $P*** closing gk sesuai yg dihrpkan :)
Stockguy22
31 Oct 14 08:29:44
thanks @stockdarts for Earnings Options help on $AMZN 90%+ , $P 88%, $NFLX 78% & $AAPL $EBAY hedges .. only $GOOGL didn’t work & $TWTR wash
melissa vazquez
31 Oct 14 08:21:42
RT @ABenedetto23: @DimanteC7 wuz good u n da hood dis weekend I try n hit $p da swua
Anthony Benedetto
31 Oct 14 08:20:35
@DimanteC7 wuz good u n da hood dis weekend I try n hit $p da swua
Stockguy22
31 Oct 14 08:12:23
didn’t risk much on recent Earnings options plays but thanks to @stockdarts going to do max profit on $P options expiring today almost 88%
Turner LaCas
31 Oct 14 07:33:04
Sirius Earnings Analysis: By the Numbers http://t.co/JrAc5MAbKe via @daily_finance $SIRI $GCI $P
#GOLDFACE
31 Oct 14 07:05:23
#10000 $P!R!T$ 👹😺🍄🐍 #GOLDFACE : http://t.co/RiGcVl2C4R http://t.co/sX1VDCALTQ
John Ablemann
31 Oct 14 07:02:20
$P Pandora Media share slide draws bullish options trade http://t.co/Ys6wAtkW83
Jeffrey Blake
31 Oct 14 07:02:18
$P Albert Fried Sees More Downside For Pandora Media http://t.co/p9t6sPR3sy
BP Radigan
31 Oct 14 06:33:14
RT @_JohnWalsh_: 31/10/14 Short Watch List $CAB $CRR $EC $FCX $INVN $OI $P $SLW
charlie
31 Oct 14 06:32:13
Long $P 19.15
Irma Doucet
31 Oct 14 06:00:59
$P Pandora Media share slide draws bullish options trade http://t.co/0huJbLYiya
Almost a Trader
31 Oct 14 06:00:06
Watching: $EXPE $SBUX $GPRO $C - $SOCL stocks - $P $FB $TWTR #stocksinplay #Stocktober #TGIF - Enjoy the last day of the month! #Halloween
StatArbX
31 Oct 14 05:54:06
Alert: Short (3) P on 10/30/2014 Pattern: Blue Sea (Breakdown), Industry: Broadcasting & Entertainment, Watchlist: Earnings Torpedo $P
sunflower
31 Oct 14 04:14:38
1 level stocks: $CLR, $YELP, $P, $SNY, $XOOM, $INVN, $ORB, $PRXL; 2 level stocks: $DDD, $BABA, $IBM, $TKMR, $ASPS, $AIRM, $CAB, $SYNA,
Stockaholics
31 Oct 14 04:01:29
Our Penny Stock Newsletter Alert On MGON Closed up 112.5% Today! Major News: http://t.co/gDCrqEFOy6 $PRLB $P $NXPI
BlackPhysicists
31 Oct 14 04:00:10
Partial Wave Analysis of the Reaction $p(3.5 GeV)+p \to pK^+\Lambda$ to Search for the "$ppK^-$" Boun... http://t.co/7NaMu3lprN #physics
Rag Time Gal
31 Oct 14 03:23:56
RT @_JohnWalsh_: 31/10/14 Short Watch List $CAB $CRR $EC $FCX $INVN $OI $P $SLW
veysell
31 Oct 14 03:16:04
#GazimizSahipsizDeğil RT Yapın herkese iletin @mican_28 $p
Ugur Bay
31 Oct 14 03:15:39
#GazimizSahipsizDeğil RT Yapın herkese iletin @BBP_Sosyal $P
Yiğido #BBP
31 Oct 14 03:14:54
#GazimizSahipsizDeğil Allah için ,Gazilerimiz için ,Şehtlerimiz için RT @hannergis $p
ALİ KARAHASANOĞLU
31 Oct 14 03:14:29
#GazimizSahipsizDeğil Allah için ,Gazilerimiz için ,Şehtlerimiz için RT @fuatkarindas $P
Acacia Mack
31 Oct 14 02:23:12
RT @iLLESTration_: 🔺$🔺P @acaciamack @jabucky92 http://t.co/vhRM8j8x4Y
#GOLDFACE
31 Oct 14 01:54:13
AGAIN I A$K, WHO CAN MAKE WAR W!TH THE 13E$T ? #10000 $P!R!T$ 👹😺🍄🐍 #GOLDFACE : http://t.co/RiGcVl2C4R http://t.co/h1XTMEeRMz
Anton
31 Oct 14 01:42:43
RT @theflynews: Pandora declines after analyst advises selling shares $P: Full Story http://t.co/9ZqAsNyLrf
DailyStockPicks
30 Oct 14 23:30:09
Partner Jet $PJT.V is up 183% this week after Q3 release with more gains coming. Find out why: http://t.co/MEpEjkCm4H $PFE $P $CSX
Bruce
30 Oct 14 23:02:12
RT @_JohnWalsh_: 31/10/14 Short Watch List $CAB $CRR $EC $FCX $INVN $OI $P $SLW
Stockaholics
30 Oct 14 22:03:34
Our Penny Stock Newsletter Alert On MGON Closed up 112.5% Today! Major News: http://t.co/dvxYQnSJab $PRLB $P $NXPI
Spooky Naninha™
30 Oct 14 20:28:12
@espumaquantica amiga adoraria principalmente por Haddad QUE HOOOMEM ma$ infelizmente $P é uma cidade que nos con$ome. :(
BlackCabbieTrader
30 Oct 14 19:33:18
31/10/14 Short Watch List $CAB $CRR $EC $FCX $INVN $OI $P $SLW
beatriz amorim
30 Oct 14 19:00:44
@Estadao Pede uma pesquisa especial pra SemSensus dizendo que PSDB ganhou, plastifica e entrega pros tucas e manda tratarem da água em $P
TickerChirp
30 Oct 14 17:51:07
Popular in Twitter Related to $P (Pandora Media Inc symbol P) on 10/31/2014 http://t.co/MoLN5OaWkX
nuclexp
30 Oct 14 17:49:05
[arXiv] Partial Wave Analysis of the Reaction $p(3.5 GeV)+p \to pK^+\Lambda$ to Search for the "$ppK^-$" Bound… http://t.co/QxvBj6oNZ0
iLLESTration
30 Oct 14 17:16:14
🔺$🔺P @acaciamack @jabucky92 http://t.co/vhRM8j8x4Y
Stockaholics
30 Oct 14 16:53:52
Our Penny Stock Newsletter Alert On MGON Closed up 112.5% Today! Major News: http://t.co/dvxYQnSJab $PRLB $P $NXPI
DailyStockPicks
30 Oct 14 16:05:17
Partner Jet $PJT.V is up 183% this week after Q1 release with much more room to increase. Find out why: http://t.co/MEpEjkCm4H $SPY $QQQ $P
Bobby Wilbert
30 Oct 14 15:52:47
Investing in Socially Responsible Companies: Pandora Media, Inc. $P http://t.co/fzD5lBD2ic
Jon Ogg
30 Oct 14 14:38:19
I firmly stand by 8 companies that wrecked long-term investor prospects $AMZN $P $CAB $CREE $DDD $IBM $OCN $YELP http://t.co/hQ86q4z38f
.
30 Oct 14 14:12:42
$P Pandora Media's CPO was awarded 98,200 shares, thank the clueless investors for more dilution of common shares. http://t.co/MSzX5X98TJ
				
				
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.