Diamonds and Dogs
10/24/14Digital River Inc. (DRIV)
Digital River is moving higher today, up 47.30% to $25.60. The cloud and payment solution company saw its shares spike after news that it would be acquired by a private equity group led by Siris Capital Group. The private deal is an all cash deal for $26.00 per share which is worth a total of about $840 million. The deal is a 50 percent premium to Digital River's Thursday closing price. Shares of Digital River set a new 52-week high of $25.75 intraday.
Pandora Media Inc. (P)
Pandora Media is melting down today, down 13.49% to $20.00. The internet radio company saw its shares fall after news of slowing growth in active listeners. Pandora was inline or beat analysts' estimates across the board and showed an increase in listener hours, but the black eye of slowing active listeners is driving the stock down. Investors seem worried about Pandora's future outlook as shares slid over $3.00 today and hit a new 52-week low of $19.35 intraday.