It’s been a tough week already for Pandora Media (NYSE:P) thanks to moves by its competitors.
On Monday, the company saw its stock drop 7.4 percent after news that Apple Inc.’s (NASDAQ:AAPL) iTunes Match service had finally been released. The new feature is part of its “iTunes in the Cloud” offering and the beta product determines what songs in a collection and libraries are in the iTunes Store. It then replaces them with improved audio quality.
And on Tuesday, Pandora’s stock was battered again by Nokia Corporation’s (NYSE:NOK) introduction of its Pandora-like streaming service for its Lumia 800 phones.
The music service, called Nokia MixRadio, customizes itself based on an individual’s preferences. The pre-installed app has users tell MixRadio its musical tastes and then it analyzes Nokia’s 15 million song digital music collection. It make selections and programs in personalized music stations drawn from various genres. The functionalities come from The Echo Nest’s music platform.
Here’s how these stocks closed today:
- Pandora Media Inc. (NYSE:P): The shares recently traded at $12.82, up $0.12, or 0.94%. Its market capitalization is $2.07 billion. They have traded in a 52-week range of $9.33 to $26.00. Volume today was 552,336 shares versus a 3-month average volume of 772,455 shares. The company’s trailing earnings are $-0.59 per share. About the company: Pandora is an internet radio station generating playlists based on a user’s favorite artist or song. Pandora’s service, free to its more than 80 million registered users and available only in the US, is supported by local and national advertising. Pandora chief strategy officer Tim Westergren founded the company in 2000. Get the most recent company news and stock data here >>
- Apple Inc. (NASDAQ:AAPL): The shares recently traded at $389.00, up $9.74, or 2.57%. Its market capitalization is $361.54 billion. They have traded in a 52-week range of $297.76 to $426.70. Volume today was 14,467,602 shares versus a 3-month average volume of 20,598,400 shares. The company’s trailing P/E is 14.05, while trailing earnings are $27.68 per share. About the company: Apple Inc. designs, manufactures, and markets personal computers and related personal computing and mobile communication devices along with a variety of related software, services, peripherals, and networking solutions. The Company sells its products worldwide through its online stores, its retail stores, its direct sales force, third-party wholesalers, and resellers. Get the most recent company news and stock data here >>
- Nokia Corporation (NYSE:NOK): The shares recently traded at $6.58, up $0.04, or 0.61%. Its market capitalization is $24.40 billion. They have traded in a 52-week range of $4.82 to $11.75. Volume today was 17,146,477 shares versus a 3-month average volume of 31,447,400 shares. The company’s trailing P/E is 26.52, while trailing earnings are $0.25 per share. The company pays a dividend of $0.48 per share for a dividend yield of 7.10%. About the company: Nokia Corporation is a player in the mobile industry. The Company makes a range of mobile devices with services and software that enable people to experience music, navigation, video, television, imaging, games, business mobility and more. Nokia also provides equipment, solutions and services for communications networks. Get the most recent company news and stock data here >>
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