Microsoft Enters Cloud Price War, Pandora’s Rough Patch: Tech Biz Wrap
Microsoft Corporation’s (NASDAQ:MSFT) Windows Azure Storage is now in the cloud price battles with a price reduction of as much as a possible 28 percent for certain customers effective December 12th. The price drop, which follows two price reductions last week from Google (NASDAQ:GOOG) and one from Amazon Web (NASDAQ:AMZN) services, indicates a looming price war as the majors of the cloud vie for market share in the emerging cloud market.
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Shares of Pandora Media (NYSE:P) ended up more that 17 percent down on the day Wednesday as the firm’s bleak forecast has its effect on Wall Street, which was already unhappy with the company’s business model. Fiscal third quarter net income was posted at just above $2 million, one cent per share on sales of $120 million in the period that ended October 31st. Pandora is pushing hard for the Internet Radio Fairness Act, which would decrease the royalty payments Pandora and other webcasters must pay in order to stream music to subscribers, while several members of the subcommittee that is examining the matter were critical of the legislation and made known their support for music artists. If that is not enough, there is ongoing chatter that Apple (NASDAQ:AAPL) is poised to debut a rival Web radio service.
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