1. Pandora Surges on Steven A. Cohen 'Passive' Investment

    Pandora Surges on Steven A. Cohen 'Passive' Investment

    Suddenly, private equity and hedge funds have taken a liking to curated radio-streaming platforms. Who knew? Shares in Pandora ( P ) , which is losing active listeners even as its user base remained over 76 million in the first quarter, were gaining on Friday morning after Point72 on Thursday revealed via a regulatory filing that Cohen, a billionaire hedge fund investor, had amassed a 5.4% stake in the Oakland, Calif., company. Cohen's Point72 became the fourth-largest Pandora shareholder, according to data compiled by Bloomberg. Shares of Pandora were up ...

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