Vague M&A speculation has led Pandora to move higher in early trading. Zero Hedge states Yahoo is the rumored would-be suitor.
With a current market cap of $5.3B - an acquisition would doubtlessly require a higher price - Pandora would be a big fish for all but a handful of tech giants to swallow. 11% of the float was shorted as of July 15.
Separately, Pandora has announced a partnership with Merlin, a rights agency representing 20K+ indie record labels and distributors. Pandora will "identify select tracks" from Merlin-backed labels and artists for additional exposure, and provide the labels/artists with data on user activity.
One thing is clear. Apple could care less. Facebook might be an interesting suitor.
I have a hold rating on Pandora
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