“Pandora Inc., the biggest online radio provider, fell the most in almost six months after CNET and the New York Times reported Apple Inc. (AAPL) aims to unveil a competing service as early as next week,” Rob Golum reports for Bloomberg.
“Pandora fell 11 percent to $15.22 at the close in New York, the biggest one-day decline since Dec. 5,” Golum reports. “The Oakland, California-based company’s stock had almost doubled this year through May 31.”
Golum reports, “Apple is pressing to sign music licensing deals in time to announce the service at its annual developer conference starting June 10 in San Francisco.”
Read more in the full article here.
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