Pandora Sale? Analyst Says Not So Fast

Late Monday night, Corvex's Keith Meister sent a letter to Pandora Media Inc

board, urging the company to explore a sale. On the heels of this letter, the streaming music service jumped 5.9% to $10.58/share. Near the end of Tuesday's training session, Axiom's Victor Anthony gave his thoughts regarding the hedge fund's letter. For Pandora , Anthony said that this news would be positive for the company for today. Ordinarily, this would be positive for a longer period of time, but Anthony said Pandora's situation is different. Potential acquirers such as Alphabet Inc

, Apple Inc.

, and Amazon.com, Inc.

have their own streaming services. He also doubts telecoms, Spotify, and Sirius XM would be interested in Pandora despite Meister's desire for Pandora to explore a sale.