Pandora Media Inc
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Stocks closed lower for a third session, as markets remain worried the Federal Reserve may start withdrawing stimulus by curtailing bond purchases later this year.
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Pandora CEO Joseph Kennedy says he will remain the top executive until a replacement is found, reports Julia Boorstin.
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NEW YORK, March 8- U.S. stocks were little changed on Friday as early enthusiasm, spurred by a much stronger-than-expected payrolls report, faded and bank shares declined as investors booked profits in the wake of the Federal Reserve's "stress tests" results. The unemployment rate fell to 7.7 percent, the lowest since December 2008.
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Pandora CEO Joseph Kennedy is suddenly leaving the company, reports CNBC's Julia Boorstin.
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*China exports grow in February. NEW YORK, March 8- U.S. stocks were poised for a higher open on Friday, with the S&P 500 on track to rise for a sixth straight session and the Dow set to scale fresh peaks after a much stronger than expected payrolls report.
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U.S. stock futures added to gains Friday following a stronger-than-expected monthly government payrolls number, putting the Dow on track for another record high.
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*China exports grow in February. NEW YORK, March 8- U.S. stock index futures rose on Friday, with the S&P 500 on track to rise for a sixth straight session and the Dow set to scale fresh peaks after positive export data from China and ahead of the release of U.S. payrolls data.
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CNBC's Julia Boorstin reports on the sudden departure of Joe Kennedy and what it means for the company.
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*China exports grow in February. NEW YORK, March 8- U.S. stock index futures rose on Friday, putting the S&P 500 on track to rise for a sixth straight session and the Dow to extend all time highs after positive export data from China and ahead of U.S. payrolls data.
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SAN FRANCISCO/ NEW YORK, March 7- Pandora Media Inc CEO Joseph Kennedy is stepping down and the search for a replacement has begun, a surprise announcement that came the same day the Internet music service reported stronger-than-expected quarterly results.
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NEW YORK, March 8- U.S. stocks edged higher on Friday on a much stronger-than-expected payrolls report, but gains were capped as investors sold some bank shares to book profits in the wake of the Federal Reserve's "stress tests" results.
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Major indices close at new highs ahead of Friday’s February jobs report.
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Stocks finished higher Thursday, with the Dow posting fresh all-time highs for the third-straight day, following an upbeat weekly jobless claims report and ahead of the widely-watched monthly government jobs data.
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SAN FRANCISCO, March 7- Pandora Media Inc said on Thursday it plans to replace chief executive officer, Joseph Kennedy, and that it has started a search to fill the position. They closed at $11.73 on the New York Stock Exchange. The Oakland, California- based company said that mobile revenue, an important metric, rose 111 percent to $80.3 million for the fourth quarter.
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CNBC's Julia Boorstin reports Pandora Media's CEO Joseph Kennedy is stepping down.
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Check out which companies are making headlines after the bell Thursday:
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SAN FRANCISCO, March 7- Pandora Media Inc reported higher revenue in the fourth quarter because of a 51 percent rise in advertising sales. Shares of Pandora Media soared 16.8 percent after closing at $11.73 on the New York Stock Exchange. The company reported a quarterly loss of 4 cents per share, compared to a loss of 3 cents per share in the same quarter a year ago.
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SAN FRANCISCO, March 7- Pandora Media Inc reported higher revenue in the fourth quarter because of a 51 percent rise in advertising sales. The online streaming music service said on Thursday that fourth quarter revenue rose 54 percent to $125.1 million. Analysts were expecting $122.8 million, according to Thomson Reuters I/B/E/S.
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Pandora said CEO Joe Kennedy is stepping down. This came after the radio service posted a smaller-than-expected loss.
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Pandora is reporting earnings after today's closing bell. The music streaming company faces tough competition. Rich Tullo, Albert Fried, provides perspective.