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Articles tagged with: stock market

Pandora’s IPO Raises Again, To $16

After we had just covered Pandora’s IPO raise from $7-$9 a share to $10-$12 a share, the company has just raised the price to $16 per share (nearly double of its original offering). According to Chris Nerney from IT World, this is an old Wall Street trick to raise investor enthusiasm.

Nerney argues that this is a tactic to make Pandora seem like an extremely desirable investment, whether it is or isn’t. This opens Pandora’s box (so to speak) on the first day of trading and will cause investors to pay a high price of about $30 to $40 a share. It is also likely that the stock may dip down to a low $20 in the coming weeks.

Pandora Raises Share Price By $3 In IPO

It looks like Pandora has changed its mind on its shares of stock since it’s original IPO (initial public offering). The company has just issued an amendment raising the share price from $10-$12. This is a $3 per share raise from its original average, and brings the company’s valuation from $1 billion to nearly $2 billion.

Since there are nearly 15 million shares up for the taking, Pandora expects to raise about $203 million from the initiative, or $60 million more than it’s original offering. Pandora currently rocks a user-base of 94 million, compared to 53 million the previous year. Likewise, users spend two times more time on the site than they had the previous year (rising from 0.7 billion hours to 1.6 billion hours).

Nvidia Analyst Pleads Guilty To Insider Trading

Former Nvidia financial analyst and 39 year old Sonny Nguyen pleaded guilty today to a criminal charge. Nguyen pleaded guilty to tipping a former Global Research consultant about Nvidia’s quarterly financial results before they were announced to the public. He claimed to have done this both in 2007 and 2008. Nguyen was released on a $100,000 bond but is expected to testify at the trial.

He is among at least 14 people who have been charged in the investigation and pleaded guilty to a charge of conspiracy to commit wire fraud and securities fraud. I suppose Nguyen was looking for a lighter sentence by pleading guilty and spilling the beans. He said,

Apple Stock Gets Downgraded – Shares Drop

JMP Securities has downgraded Apple this morning from “market outperform to market perform.”

The reason for the downgrade that JMP states is, “A notable deceleration in its primary manufacturing partner Hon Hai.” With the deceleration of Hon Hai’s sales growth, they believe Apple’s business could follow. Hon Hai is the parent company of Foxconn, Apple’s manufacturer. JMP also believes the iPhone sales could just be in line with expectations this year, as well as seeing iPad sales replacing Mac sales.

With Apple’s track record…