3 Buzzing Social Media Stocks: Pandora Shares Get Hammered, Facebook Refines Its Ads, and LinkedIn Could Make a Move for Xing
Pandora Media (NYSE:P): Even a favorable quarterly report couldn’t help salvage Pandora’s shares, now down over 11 percent. The company reported mixed guidance, and its decision to remove its mobile listening cap could be fueling the selloff; a round of downgrades hasn’t helped. An improved monetization strategy resulted in content acquisition cost growth, up 35 percent to $81.8 million. Listener hours totaled 3.88 billion for the period, which is up year over year though down quarter over quarter.
Facebook (NASDAQ:FB): Facebook is trying to make ads more aesthetically pleasing, partnering with Shutterstock to revamp the way some of its ads are shown. Advertisers will now be able to choose from stock images designed to captivate users more than pictures that may otherwise be selected, as well as upload multiple types of images at a time in order to best appeal to consumers.
LinkedIn (NYSE:LNKD): LinkedIn is poised to buy German online business networking provider Xing, according to Bloomberg. Alexander Braun, a Frankfurt-based analyst at Montega AG, said, “There are rumors that LinkedIn is preparing a bid to acquire Xing.” However, Marcus Silbe, a another Frankfurt-based analyst, told Bloomberg that the timing is dubious, noting, “The share price of Xing is extremely expensive for LinkedIn to step in right now.”