|Bid||8.2400 x 1400|
|Ask||8.2600 x 3000|
|Day's range||8.0900 - 8.1657|
|52-week range||4.0900 - 9.9800|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Pandora announces a new arrangement with AT&TBloomberg NewsThe Pandora Media application is seen in the App Store on an Apple iPhone. Pandora Media Inc. is one of the best performers in tech this year, with shares up nearly 75%. On the heels of a new partnership arrangement with AT&T Inc. (XNYS:T) Pandora’s (XNYS:P) Chief Financial Officer Naveen Chopra spoke with MarketWatch about how relationships with other tech companies can help the streaming-music pioneer drive more listeners to its products.
MARKET PULSE Shares of Electronic Arts Inc. (ea) are up 1.5% in premarket trading Friday after Needham analyst Laura Martin raised her price target on the stock to $170 from $135 and wrote that the company was in the midst of building the "Netflix for games.
Snapchat parent Snap (SNAP) and Pandora (P) have partnered in what seems to be a move to benefit from the other’s strength to tackle their respective competition and grow their businesses. Pandora is bringing its music service to Snapchat, allowing Pandora subscribers to send their favorite songs to friends and family across Snapchat. The partnership with Snapchat gives Pandora an opportunity to reach a larger audience, which could, in turn, expand its revenue opportunities.
Shares of Pandora Media Inc. are up 2.1% in Thursday morning trading after the company said it has a new partnership with Snapchat parent Snap Inc. . "Soon, Pandora listeners will be able to send their favorite songs to friends and family through unique song cards that celebrate album art on top of an animated background, and receivers will be able to swipe up to listen directly on Pandora," the music-streaming company said in a release. "This integration will expand Pandora's social sharing capabilities by reaching Snapchat's massive audience while enhancing music discovery across both platforms." The feature will soon be available to U.S. users and is part of Snap's new Snap Kit developer platform.
Music streaming company Pandora (P) has launched a family version of its premium service for $14.99 per month. An annual subscription of the family version is also available at an annual $164.98 fee, which would save users a month’s subscription fee annually. Pandora is far behind Spotify (SPOT) and Apple (AAPL) Music in terms of paid subscribers, as the graph below shows. Pandora’s new family plan could help it compete with Apple Music and Spotify, which already offer family deals at an identical price.
Pandora (P) launched Family Plan for Pandora Premium to withstand growing competition from players like Apple Music, Spotify, Google and Amazon.
Media streaming company Pandora launches new family subscription plan "with a twist," says CEO Roger Lynch.
The company announced the extension of some convertible notes on Thursday night, and concerns about dilution likely contributed to the shares’ slide. On Thursday at a B. Riley conference, CFO Naveen Chopra responded to a question about recent statements by Liberty Media (FWONA) CEO Greg Maffei in which he alluded to “synergies” between Pandora Media and bankrupt radio company iHeartMedia, in which Liberty may be interested, as well as other assets—perhaps including Sirius XM (SIRI), which Liberty owns most of and also owns some of Pandora. Maffei, it should be noted, is Pandora’s (P) chairman, and Liberty is a part owner of Pandora.
Pandora has a total of 72.3 million users and hopes a higher percentage of those will use its premium service. Pandora stock has risen 33.2% since the company announced better-than-expected first-quarter results.
Pandora (P) is betting on programmatic advertising to turn around its dwindling fortunes in the advertising market. Its advertising revenue fell 3.9% YoY (year-over-year) to $214.6 million in the first quarter. Programmatic advertising is the automated buying and selling of online ad inventory, a model that has taken root in companies such as Facebook (FB) and Google (GOOGL).
Spotify’s (SPOT) first-quarter report as a public company was underwhelming, and its guidance for the current quarter disappointed. Spotify could have a much harder time meeting its goals for the current quarter, given Google’s (GOOGL) recent move of a revamped streaming music service. Google is launching YouTube Music to take on Spotify, Apple, Amazon (AMZN), and Pandora (P) in the multibillion-dollar online music service market.
Shares in the world’s biggest jewelry maker, which is based in Copenhagen, slumped more than 8 percent at one point on Thursday, dragging it down to its lowest market value since February 2015. Investors started selling on advice from Carnegie, which slashed its share-price target by 43 percent and said clients should brace themselves for a Pandora “profit warning.” Carnegie based its prediction on “poor” first-quarter numbers, as well as concerns the company is doing badly in Italy and clear signs of a contraction in store productivity. At Danske Bank A/S, which owns Pandora stock via its $250 billion wealth management unit, the verdict is that sentiment has shifted and that the period of goodwill the company enjoyed earlier this year is over.
Shares in Spotify Technology and Pandora Media fell on Thursday as investors reacted to Google's YouTube business announcing plans to launch a new music streaming service on May 22.
Shares of Spotify (SPOT) and Pandora (P) both opened lower on Thursday after Google (GOOGL) announced that it will roll out a YouTube-based music-streaming service. In doing so, the technology giant joins an already crowded space, complete with some of the biggest names on Wall Street. Let's dive into the current streaming music landscape to gauge not only how things stand now, but what the market might look like down the line.
YouTube Music, which will offer both ad-supported and $9.99-per-month (7.4 pounds) versions, will compete directly with services from Spotify Technology SA (SPOT.N), Pandora Media Inc (P.N), Apple Inc (AAPL.O) and Amazon.com Inc (AMZN.O). YouTube Music will launch on May 22, and include features such as personalised playlists based on a user's YouTube history.
Here are some things going on today in the world of tech: Debating Cisco Shares of Cisco Systems (CSCO) are down $1.45, or 3%, at $43.70, after the company yesterday afternoon slightly beat fiscal Q3 revenue and profit expectations, and forecast this quarter’s results more or less in line with consensus. The company continues to make progress in transitioning its business to come from more recurring sources of revenue, and its “campus” switches for corporate networks returned to growth for the first time in several quarters, Chief Financial Officer Kelly Kramer told me in an interview. For the bulls, Paul Silverstein of Cowen & Co. reiterates an Outperform rating, writing that the report is “meaningfully better than [it] appears." “We think the reported numbers understate the true current and longer-term economics of CSCO’s business as measured by both growth and profitability—with ongoing improvement in the quality of CSCO’s earnings and cash flow to boot,” writes Silverstein.
Shares of Pandora Media Inc. and Spotify Technology SA are down in Thursday morning trading after Alphabet Inc.'s YouTube announced a new music streaming service called YouTube Music. An ad-supported version of YouTube Music will be free, while a premium version will cost $9.99 a month. YouTube said that users will be able to find songs by typing in song titles as well as more unconventional search terms, such as lyrics or descriptions like "that hipster song with the whistling." The service launches on May 22, and YouTube said it will feature a "tremendous catalog of remixes, live performances, covers and music videos that you can't find anywhere else." Alphabet shares are up 0.4% in Thursday morning trading and 15% over the past 12 months, while the S&P 500 has gained 16%.
Vivendi investors are eager for an update on plans for a possible listing of its music business on Thursday, hoping that could bolster the French media group's value after several setbacks in Italy. Top shareholder Vincent Bollore, who calls Universal Music Group (UMG) the company's "jewel", has been floating the idea of an initial public offering (IPO) for two years, through hints and statements that have supported the stock. The music industry grew for the third consecutive year in 2017 and the listing last month of the world's top streaming platform, Spotify, is seen as paving the way for UMG.
Artists have to produce a lot more content to keep up in today's streaming music industry, Grammy Award-winning singer Ashanti says.