DISH Network, Momo, Pandora News Today

DISH Network Corp (DISH), Momo Inc (ADR) (MOMO), and ​Pandora Media Inc (P) are making headlines today

by Alex Eppstein

Published on Mar 7, 2017 at 9:22 AM

Stock futures are modestly lower in pre-market trading, as Wall Street digests a potential Obamacare replacement, unveiled by Republicans. Among specific equities in focus today are programming provider DISH Network Corp (NASDAQ:DISH), social network Momo Inc (ADR) (NASDAQ:MOMO), and music discovery stock Pandora Media Inc (NYSE:P). Here's a quick look at the news driving DISH, MOMO, and P shares.

DISH Network Joining S&P 500

DISH will be added to the S&P 500 Index (SPX) ahead of the open next Monday, March 13, replacing Linear Technology Corporation (NASDAQ:LLTC), which is being acquired by Analog Devices, Inc. (NASDAQ:ADI). The news has DISH Network Corp stock up 5% pre-market, even though history suggests new S&P stocks tend to struggle in the short term. Over the long haul, the shares have performed quite nicely, advancing 22.6% year-over-year to trade at $61.23, and fresh off a Feb. 22 annual high of $64.74. Perhaps this explains why options traders are so call-skewed within the front three-months' series. Specifically, DISH sports a Schaeffer's put/call open interest ratio (SOIR) of 0.38, ranking in the low 13th percentile of its annual range.

Momo Eyes Post-Earnings Highs

MOMO is pointed 10% higher ahead of the open, after an earnings beat and 16.2% monthly active user growth in December. After settling Monday at $26.61, the shares could touch a record high out of the gate. Perhaps this will finally capture the attention of analysts. Just three brokerage firms currently cover Momo Inc -- though, it should be said, each has handed the stock a "buy" or better endorsement.

Liberty Media Punts on Pandora Acquisition

P is bracing for a rocky session, down 3.9% pre-market, after Liberty Media Formula One (NASDAQ:LMCA) CEO Greg Maffei said it's unlikely his company will purchase Pandora Media Inc. "We like the asset, just not at this price," he explained. The stock landed yesterday at $12.47, having advanced 15% on a year-over-year basis. The latest news should be a coup for short sellers, assuming the losses materialize. Roughly 30% of P's float is sold short, translating into almost nine sessions' worth of trading activity, at the stock's typical daily volume.

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