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June 18, 2014
Future of Media Summit to be held in Boston on June 18-19.
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September 23, 2015
09:01 EDTPPandora says has generated over $1.5B in all-time royalties for music makers
Pandora announced that it has generated more than $1.5B in all-time royalties for music makers, marking a major milestone for ad-supported music streaming. Pandora has nearly 80 million active monthly users tuning in to its service for more than 20 hours every month on average. Pandora achieved this milestone due to joint revenue streams flowing from ad-supported and paying subscribers.
September 22, 2015
11:02 EDTIMAXIMAX price range for China IPO a positive catalyst, says Piper Jaffray
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11:00 EDTIMAXIMAX China files to offer 62M shares in range of $3.85-$4.45 per share
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08:09 EDTPPandora royalty risk reduced, says JMP Securities
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07:37 EDTIMAXIMAX announces expansion of revenue sharing agreement with SMI Holding Group
IMAX and SMI Holding Group Limited, a Chinese entertainment and media company that operates theatres under the name Stellar Cinemas, announced an expansion of the parties' revenue sharing arrangement with the addition of five new IMAX theatres in China. The theatres will be installed in new construction projects located in the cities of Chengdu, Ningbo, Zhongshan, Kunming and Wanzhou and will bring the exhibitor's total IMAX commitment to 16 theatres, of which nine are currently open.
07:31 EDTIMAXIMAX signs agreement with Better Life for two new theatres in China
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September 21, 2015
16:53 EDTPOn The Fly: Top stock stories for Monday
Stocks on Wall Street began the session in positive territory and remained there for most of the morning. The Nasdaq was the first index to show signs of weakness after Hillary Clinton pledged to address the high cost of specialty drugs, sinking multiple biotech stocks. The averages later recovered from their afternoon lows, with both the Dow and S&P posting gains and the Nasdaq narrowly finishing in the green after Monday's drug pricing debate. ECONOMIC EVENTS: In the U.S., existing home sales fell 4.8% to a 5.31M rate in August, versus expectations for them to be down 1.6% to a rate of 5.5M. Over the weekend, three Federal Reserve officials, namely San Francisco Fed President John Williams, St. Louis Fed President James Bullard and Richmond Fed President Jeffrey Lacker, all argued that an interest-rate increase is still warranted this year. COMPANY NEWS: Biotech stocks declined after privately-held Turing Pharmaceuticals made headlines by enacting a 5,000% price increase on its treatment for toxoplasmosis, reigniting a debate around drug prices that previously embroiled costly Hepatitis C drugs including AbbVie's (ABBV) Viekira Pak and Gilead's (GILD) Sovaldi and Harvoni. Presidential candidate Hillary Clinton sent the debate to center stage by criticizing the "outrageous" prices of specialty drugs and promising to lay out a plan tomorrow to tackle "price gouging" in the specialty drug market. The NASDAQ Biotechnology index fell roughly 4.4% following the attention paid to Turing's drug and Clinton's response... Shares of Volkswagen (VLKAY) trading in New York dropped 17.1% to $30.10 after the EPA and California Air Resources Board detected manipulations that violate U.S. environmental standards while testing certain Volkswagen diesel cars. The EPA said Volkswagen may face civil penalties of $37,500 for each vehicle not in compliance with federal clean air rules, which could total as much as $18B, according to Reuters... Apple (AAPL), which has previously been reported to be working on an electric car via its "Project Titan," is speeding up those efforts and setting 2019 as a target to ship its first vehicle, according to The Wall Street Journal. Shares of Tesla Motors (TSLA) were volatile following the Journal's report, but closed the day up 1.37% at $264.20. MAJOR MOVERS: Among the notable gainers was Atmel (ATML), which surged 12.65%, to $8.19 after agreeing to be acquired by German chipmaker Dialog Semiconductor in a deal valued at roughly $4.6B. Also higher was Starwood Waypoint (SWAY), which gained $2.89, or 12.70%, to $25.64 after announcing a stock-for-stock merger agreement with Colony American Homes. Additionally, Pandora (P) rose 8.17% to $21.31 after receiving an interim opinion from the Register of Copyrights regarding the company's agreements with Merlin and Naxos. Among the noteworthy losers was GoPro (GPRO), which fell $2.88, or 8.19%, to $32.27 after Barron's contended that the company's stock could plunge another 30% to $25 as Apple, Sony (SNE), and others pressure the company's "one-hit wonder" products. Also lower was Mallinckrodt (MNK), which lost $8.23, or 10.02%, to $73.87 after ANI Pharma (ANIP) announced plans to acquire two new drug applications from Merck (MRK) that could compete with Acthar, Mallinckrodt's largest product. Separately, D.R. Horton (DHI) dipped 2.91% after the August U.S. existing home sales report showed a 4.8% drop for the month. Note also that Lennar (LEN) slipped 0.27% after its quarterly earnings report beat analyst estimates. INDEXES: The Dow rose 125.61, or 0.77%, to 16,510.19, the Nasdaq added 1.73, or 0.04%, to 4,828.96, and the S&P 500 gained 8.94, or 0.46%, to 1,966.97.
14:18 EDTPCRB comments actually cautionary for Pandora, says FBR Capital
The initial positive reaction in Pandora shares following a procedural decision in its CRB rate fight seems misplaced, according to FBR, which argues that language in the decision is actually cautionary for Pandora. The firm, which said that the ruling includes favorable comments for SoundExchange, keeps an Underperform rating on Pandora.
12:25 EDTPPandora interim ruling win a positive sign, says Piper Jaffray
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12:19 EDTPPandora says 'pleased' with opinion from Register of Copyrights
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11:24 EDTPPandora January puts active on Copyright Royalty Board decision
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11:17 EDTPPandora 'pleased' copyright office affirmed Merlin pact as benchmark
In statement to Reuters, Pandora said it is "pleased that the copyright office affirmed the admissibility of Pandora's agreement with Merilin as a valid benchmark in the copyright royalty board proceedings," the news service reported.
10:51 EDTPOptions with increasing implied volatility
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10:43 EDTPPandora well off highs, shares still up 5% to $20.64
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10:25 EDTPPandora trading resumes, shares up 13% to $22.26
10:18 EDTPPandora halted second time for volatility after jumping 8% to $21.31
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10:17 EDTPPandora trading resumes, shares now up 8% to $21.30
10:16 EDTPPandora jumps as investors await Copyright Royalty Board decision
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10:13 EDTPPandora trading halted for volatility after jumping $1.28 to $20.98
September 20, 2015
19:48 EDTLGF'Maze Runner' sequel outpaces 'Black Mass'
Young-adult science fiction film "Maze Runner: The Scorch Trials" raced ahead of Johnny Depp-led crime biopic "Black Mass" in their respective weekend debuts. WEEKEND LEADER: Falling somewhat short of estimated sales in the range of $34M-$36M, Fox's (FOX, FOXA) "Maze Runner: The Scorch Trials" grossed $30.3M domestically for the weekend of September 20. The sci-fi action thriller's $61M budget nearly doubles that of the first "Maze Runner" film, building on a trend of dystopic young-adult films popularized by Lionsgate's (LGF) "The Hunger Games" and "Divergent." BOX OFFICE RUNNERS-UP: "Black Mass" from Time Warner (TWX) subsidiary Warner Bros. took in $23.4M for its domestic open. The Boston-based crime film garnered acclaim from critics and audiences alike, with particular praise given to Johnny Depp in the role of mobster Whitey Bulger. Meanwhile, Comcast (CMCSA, CMCSK) subsidiary Universal's horror thriller "The Visit" earned $11.4M in its second week in theaters, while Sony (SNE) thriller "The Perfect Guy" fell to fourth place with $9.7M. Rounding out this weekend's Top 5, Universal's disaster film "Everest" grossed $7.6M despite opening in just 545 theaters ahead of its wider release.
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