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Street Not Biting On NY Post Pandora Rumor

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Pandora Media Inc (NYSE: P) shares are trading higher by $0.45 (4.8 percent) at $9.38 in Thursday's session.

The Street appears to be putting little faith in the rumor circulated by the New York Post that the company might be acquired by Sirius XM Holdings Inc. (NASDAQ: SIRI) for $13 per share.

In fact, off the higher open, Pandora's stock couldn't even clear Tuesday's high of $9.74, only reaching $9.71 and reversing course. It's now attempting to find support in the area of the upper-range from Wednesday, as $9.31 stands as the low for the session as of 10:33 a.m. ET.

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