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Pandora shares rise on strong revenue outlook

January 15, 2017 at 3:52AM
FILE - In this Oct. 23, 2015 file photo, Pandora is displayed above a post where it trades on the floor of the New York Stock Exchange. Pandora's stock is climbing Friday, Jan. 13, 2017, after the online radio company provided a stronger fourth-quarter revenue outlook and announced plans to cut approximately 7 percent of its workforce. Pandora said late Thursday that the job cuts, which would exclude Ticketfly, are being done to help trim overall operating costs.(AP Photo/Richard Drew, File)
Pandora Media’s revenue forecast helped its stock price, but the firm will cut 7 percent of its jobs. (The Minnesota Star Tribune)
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Slash & gain: Pandora Media climbed 6 percent to $12.76 Friday after the streaming music company issued a strong revenue forecast, citing a rise in advertising sales. The company also said it will cut about 7 percent of its jobs to reduce costs.

Drug test: Pharmaceuticals company Endo International dropped 8.6 percent to $14 Wednesday after Donald Trump criticized the high cost of drugs at a news conference. Other drug companies also took stock hits that continued later in the week. Endo shares closed Friday at $13.19.

Dim the lights: Lighting maker Acuity Brands dropped 15 percent to $202.98 Monday after its earnings fell short of expectations and the company said soft demand that dampened sales in the period could extend into the next quarter. Acuity shares closed the week at $215.18.

Fast lane: Drugmaker Merck rose 4.7 percent to $62.77 Wednesday on news that the Food and Drug Administration will do a quick review of one of the company's drugs for its potential to treat a type of lung cancer. The stock finished the week at $62.34.

Deal bounce: VCA vaulted 28.3 percent to $90.79 Monday after the pet health care company agreed to be acquired by food and drinks company Mars Inc. for around $7.7 billion. VCA shares closed Friday at $91.25.

Bah humbug: Ascena Retail Group plunged 11.3 percent Tuesday to $5.33 after the company slashed its profit forecast, citing holiday season sales, which fell for most of its brands, including Ann Taylor, Lane Bryant and Dressbarn. The stock closed Friday at $5.42.

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