Pandora Shares Tumble 17%, B. Riley Downgrades To Neutral

Pandora Media Inc. shares plummeted 17% Friday, as analysts weighed in on disappointing fourth-quarter earnings and a lowered outlook. B. Riley downgraded the stock to neutral from buy and said it expects the miss, news of new investments and other items to weigh on the stock for at least the next three quarters. Pandora said the number of hours that listeners tune into its Internet radio service rose 15% in the quarter. But shares fell as revenue missed expectations and the outlook for the first quarter and 2015 fell short of Wall Street's views. Shares have lost 15.4% of their value in the last three months, while the S&P 500 has gained about 0.3%.