Pandora Media Halves Gains

Pandora Media halved its earlier gains after Reuters said, citing a source, the company is making no new effort to sell itself and instead, is focused on executing its strategy and its operating model.

Earlier, shares had soared 13.5% after CNBC said the company is open to selling itself.

Pandora has expressed a willingness to engage to longtime suitor SiriusXM, and SiriusXM is expected to pursue a deal, CNBC said citing people familiar with the situation.

However, a person reportedly noted the process is in a very early stage and there are no guarantees a deal would emerge.

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