Saudi Arabia has shut down half of its oil production after drones attacked the world's largest oil processing facility in the kingdom.Marketsread more
Yemen's Houthi rebels have claimed responsibility for the attacks, which created a huge fire at a processor essential to global energy supplies.Politicsread more
Oil prices are expected to jump as much as $10 per barrel after a coordinated drone strike hit Saudi Arabia's largest oil field, forcing the kingdom to cut its oil output in...Marketsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
Trailers have become a cult phenomenon. Even short teasers that reveal little about the plot of the upcoming film are headline-worthy. Blogs and forums have become devoted...Entertainmentread more
Thanks to the performance of Beyond Meat, investors who focus on venture-backed tech IPOs have done well this year despite some notable disappointments.Technologyread more
Software company Intuit, maker of tax helper TurboTax, is in its eleventh year of stock gains and up 36% this year.Investingread more
CNBC did a deep dive through the most recent Wall Street research to find stocks with upside potential.Marketsread more
The stock popped as much as 7 percent in extended trading, briefly wiping out the day's losses. But after an initial spike, shares lost steam and flattened out.
Pandora's narrower-than-expected losses signal a sigh of relief after a rough-and-tumble year at the online radio company.
Co-founder Tim Westergren stepped aside as CEO for the second time in June, amid the company's ongoing battle against the likes of Spotify and Apple Music. The company fended off an acquisition offer from SiriusXM, only to accept a from the satellite radio company. That investment was in lieu of an investment from KKR, a firm known for private equity deals. Pandora and KKR had reached an agreement on a $150 million investment in May.
Despite the drama, Pandora managed to increase both advertising revenue and subscriptions during the second quarter, boosting revenue.
The company has also announced divestiture of online ticket platform Ticketfly and the discontinuation of Pandora operations in Australia and New Zealand.
"We have taken a number of steps to hone the company's strategy and position Pandora to continue to build audience and extend monetization," said Naveen Chopra, chief financial officer and interim CEO of Pandora.