U.S. financial markets started the week with indecisiveness, as the Dow Jones Industrial Average fell 36.30, to 21, 235.67. The Nasdaq Composite index was off 32.45, to 6,175.46.
However, several media stocks had strong performances on Wall Street, with Viacom, The E.W. Scripps Co., Sinclair Broadcast Group, and Nexstar all seeing strong performances.
The big news, however, concerns streaming audio company Pandora. Investors did not seem to like its agreement for a $480 million investment from Sirius XM, announced Friday. Pandora shares were off 7.6% at the Closing Bell, sinking “P” to $7.87. The dip came as two investment houses—Citigroup and Oppenheimer Holdings—each downgraded Pandora to “Market Perform.”
For a full look at today’s closing stock prices, please visit the Wall Street Report at the homepage of RBR.com.