3 Buzzing Social Media Stocks: Pandora’s New Leader, Facebook’s Engagement Stats, LinkedIn Shows Limits
Pandora Media (NYSE:P): Brian McAndrews, formerly the CEO of online ad agency aQuantive (later acquired by Microsoft for $6 billion), has been named Pandora’s new CEO and chairman, effective immediately. Pandora’s investors welcomed the news, sending the stock up nearly 10 percent. Current CEO Joe Kennedy, who has been cheif for 9 years, announced back in March that he would be stepping down.
Facebook (NASDAQ:FB): During his talk last night, CEO Mark Zuckerberg said that Facebook engagement was stronger on mobile than PCs, “countering the view that matching Facebook’s huge share of PC usage on mobile will be tough due to the fact it’s simply one of many installed apps on user devices,” Zuckerberg said. He also reiterated that the company isn’t folding the Facebook Home interface for Android phones, despite the criticisms and beat-downs its received in the app store.
LinkedIn (NYSE:LNKD): After reviewing the company’s Marketing Solutions segment, Citigroup sees limited upside to LinkedIn’s 2014 estimates, particularly for that unit. The firm says that while it remains bullish on the company’s fundamentals, it keeps a Neutral rating on LinkedIn, primarily due to valuation.