Pandora business momentum strong, says Canaccord Canaccord came away from Pandora investors meetings with renewed confidence in its ability to exceed the firm's revenue targets over time and notes growing interest in Europe for Pandora's music service. The firm believes business momentum is strong, but does not expect dramatic revenue upside or downside in any given period given the stability of its model. Canaccord keeps its Buy rating and $43 price target on Pandora.
Judge rules Sirius XM infringed copyrights by playing songs recorded pre-1972 In a $100M royalty lawsuit between the rock band The Turtles and Sirius XM (SIRI), a California federal judge ruled that Sirius XM infringed copyrights and violated California state laws by broadcasting songs recorded before 1972 without paying royalties for the performance of the recording. Judge Philip Gutierrez ruled that the music industry can claim additional copyright in broadcasted songs that were recorded before 1972. The ruling can have a far reaching impact on digital radio providers who may have to cough up additional royalty fees for playing songs recorded before 1972. Pandora (P) is also a digital radio provider. Reference Link