Radar Movers: Apple Worst Performer in S&P 500, Outerwall Plunges 20%
Shares of Pandora Media (NYSE:P) dropped more than 3 percent in late afternoon hours. The Internet radio company is conducting a secondary offering of 14 million shares. Pandora intends to use the funds for general corporate purposes, including working capital and capital expenditures. It may also use the proceeds for acquisitions.