Diamonds and Dogs
6/3/13Pandora Media Inc. (P)
Pandora Media is silencing its investors today, down 10.58% at $15.22. The online music streaming company saw its shares fall after Apple announced it would release a competing service. Apple is pushing to complete licensing deals with music companies before it debuts a new Internet radio service. Pandora already faces competition from Spotify and new services from Google, which launched a paid subscription music service earlier this month. Yet another competitor, particularly a big name like Apple, could be challenging for Pandora. Pandora shares are trading near in the upper half of its 52-week range of $7.08-$19.37.
Clovis Oncology Inc. (CLVS)
Clovis Oncology hit the daily double today, up 103.91% at $74.59. The biopharmaceutical company saw its shares skyrocket after their anti-cancer therapy showed positive data on two early stage experimental treatments -- CO-1686 in EGFR-mutant non-small cell lung cancer (NSCLC) and Rucaparib in a monotherapy study of solid tumors. Both treatments showed positive results in the patients who received the therapy, Rucaparib provided an 89% clinical benefit to patients with ovarian cancer. Clovis set a new 52-week high of $86.29 intraday.
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